JACKSONVILLE, Fla., Aug. 15,
2023 /PRNewswire/ -- The Fortegra Group, Inc.
("Fortegra" or the "Company"), a global specialty insurer and
subsidiary of Tiptree Inc. (NASDAQ: TIPT), today announced the
appointment of Edward Peña as chief financial officer
effective August 28, 2023. At that
time, Mike Grasher, Fortegra's
current CFO, will transition to executive vice president,
international business development.
The appointment of Mr. Peña adds to an already deep bench
of experienced and highly qualified senior executives at Fortegra.
He is a trusted leader with more than two decades of insurance,
finance and mergers and acquisitions expertise. He comes to
Fortegra from Liberty Mutual, where he ascended to the CFO position
in the company's Global Retail Markets division. Mr. Peña's
experience also includes various positions at Coaction Specialty
Insurance and J.P. Morgan.
"It is an honor to be appointed CFO at such a critical point in
Fortegra's growth trajectory," said Mr. Peña. "Under the leadership
of Rick Kahlbaugh, Fortegra has
grown into a leading global specialty insurer in the most
thoughtful and strategic of ways. I am looking forward to working
with our team to continue that momentum."
Rick Kahlbaugh, who is the chief
executive officer of Fortegra, said: "We are thrilled to have Ed
join the Fortegra team. The breadth and range of his talents and
experience will serve to support the current and future trajectory
of the Company. Ed is immensely talented, and I am eager to start
working with him."
As CFO since rejoining Fortegra in October 2015, Mr. Grasher has been instrumental
in the Company's consistent growth and profitability. During his
tenure, the Company reached the $1
billion, $2 billion and now
$3 billion gross written premium
thresholds. As EVP, International Business Development, Mr. Grasher
will build out Fortegra's specialty insurance companies in the UK
and the European Union. Upon assuming his new position, Mr. Grasher
will continue reporting to Fortegra's CEO.
"Mike knows our business, knows our strategy and is uniquely
suited to spearhead this strategic initiative," added Mr.
Kahlbaugh. "I am confident that he and the team in London will build Fortegra's specialty
insurance presence in strategic markets abroad, further
accelerating our growth."
About Fortegra
For more than 45 years, Fortegra and
its subsidiaries have underwritten risk management solutions that
help people and businesses succeed in the face of uncertainty. As a
global specialty insurer, we offer a diverse set of admitted and
surplus insurance products and warranty solutions. Fortegra's A.M.
Best Financial Strength Rating of A- (Excellent) is a result of our
strict underwriting standards, consistent profitability, and high
cash flows. For more information, please visit:
https://www.fortegra.com.
Contact:
media@fortegra.com
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SOURCE Fortegra