Navy Mutual Announces New CEO

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Sep 01, 2020, 10:00 ET

ARLINGTON, Va., Sept. 1, 2020 /PRNewswire/ -- The Board of Directors of the Navy Mutual Aid Association ("Navy Mutual") is proud to announce the selection of a new President and Chief Executive Officer to lead the Association into an even brighter future.

Retired Rear Admiral Bruce Engelhardt, USN, has superbly led Navy Mutual for the past 15 years. During this time, Admiral Engelhardt engineered and fostered a period of great growth for the Association without ever wavering from the organization's 140-year commitment to unparalleled service for those who have worn the uniform of the United States.

Since Admiral Engelhardt assumed the helm in 2005, Navy Mutual has grown from $1.8 billion in total assets to well over $3 billion today. Membership has grown by 5% and insurance plans in force increased by over 10%. More importantly to the long-term health of the enterprise, Admiral Engelhardt spearheaded a critical modernization of Navy Mutual's business processes, replacing legacy systems with modern IT architecture and greatly improving the professional knowledge of Navy Mutual's employees, the heart of its service-oriented culture.

Following a comprehensive search effort, the Board of Directors selected retired Rear Admiral Brian Luther, USN, to assume the office of President and Chief Executive Officer this fall. Admiral Luther joined the Navy Mutual team in 2018 as the Chief Strategy Officer and has since assumed responsibilities for Association Sales and Marketing efforts as well. A career naval aviator, Admiral Luther's last assignment was as Budget Officer for the Department of the Navy. At sea, Admiral Luther commanded Carrier Strike Group Two as a flag officer, as well as the amphibious assault ship USS Tarawa and the nuclear-powered aircraft carrier USS George W. Bush (CVN-77).

"Navy Mutual is indeed fortunate to have accomplished leaders and financial professionals like Bruce and Brian who are willing to continue their commitment to serve the interests of members of America's uniformed services and their families," said Navy Mutual Board Chair Retired Vice Admiral Stan Szemborski. "Admiral Engelhardt is leaving a legacy that will be hard to match, but there's no one more qualified to take on that challenge than Admiral Luther."

Navy Mutual is a nonprofit, member-owned mutual association established in 1879 to provide affordable life insurance and peace of mind to members of the military and their families. As the nation's oldest federally recognized Veterans Service Organization, its mission and commitment to protect those who defend us remains unwavering. Financially strong, Navy Mutual is proud to be a first-choice provider of life insurance to service members and their loved ones. Through quality life insurance products, no-cost educational and veteran services programs and unparalleled service, Navy Mutual has earned the loyalty and support of its membership and outstanding customer satisfaction and retention ratings. For more information, visit navymutual.org.

SOURCE Navy Mutual