5Star Life Insurance Company today announced the appointment of Timothy G. Arnold and Kimberley E. Wooding to its Board of Directors, effective September 1, 2026. Together, they bring more than six decades of insurance, financial services, and executive leadership experience to the Board, further strengthening the company’s ability to serve military service members, government employees, first responders, and civilian markets.
“Tim and Kim bring extensive insurance industry experience and proven leadership to the 5Star Life Board,” said General Larry O. Spencer, USAF (Ret.), Chair and President of AFBA and President of 5Star Life. “Their expertise will strengthen our Board and help guide the company as we continue delivering financial security and peace of mind to those we serve.”
Arnold served as Executive Vice President, Voluntary Benefits for Unum Group and President of Colonial Life, where he led one of the nation’s largest providers of workplace benefits. With more than 40 years of experience in the insurance industry, he brings deep expertise in voluntary benefits, operations, sales, and strategic leadership.
“I am honored to join the 5Star Life Board and support an organization with a longstanding commitment to serving those who serve others,” said Arnold. “I look forward to contributing my industry experience to help advance the company’s future success.”
Wooding retired from 5Star Life as Executive Vice President and Chief Financial Officer after a distinguished career spanning nearly three decades with the company and more than 30 years in the life insurance and financial services industry. During her tenure, she played a pivotal role in strengthening the organization’s financial position and supporting its long-term strategic growth.
“I am honored to join the 5Star Life Board of Directors and continue serving an organization that has been such an important part of my professional life,” said Wooding. “Having witnessed the company’s growth and commitment to policyholders firsthand, I look forward to supporting its mission and long-term success in this new role.”
About 5Star Life
5Star Life Insurance Company (5Star Life) is the primary underwriter of the Armed Forces Benefit Association (AFBA) member life insurance benefits. In addition, it extends the enterprise’s mission to civilians serving our country in the workplace. As a growing provider of group and worksite voluntary products, 5Star Life serves a diverse clientele as an insurance provider to individuals and organizations and as a trusted advisor to brokers. Headquartered in Alexandria, VA, 5Star Life (a Lincoln, NE company) is currently licensed in 49 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and American Samoa.
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