ST. PETERSBURG, Fla.--(BUSINESS WIRE)--
United Insurance Holdings Corp. (OTCBB: UIHC)(United or the
Company), a property and casualty insurance holding company, today
announced that its Board of Directors has appointed John Forney, CFA, as
its Chief Executive Officer. Mr. Forney will join United on Thursday
June 14, 2012, and will also serve as a Director on the Company’s Board.
Mr. John Forney, Chief Executive Officer (Photo: Business Wire)
The 50-year-old Mr. Forney brings to United an impressive, 21-year
background of executive experience, including a balanced mix of public
finance investment banking and private sector executive leadership
positions with a focus on the insurance market. He most recently served
as Managing Director in Raymond James’ Public Finance Department,
leading the firm’s investment banking efforts in catastrophe insurance
financing.
Mr. Greg Branch, Chairman of United’s Board of Directors, stated, "The
Board conducted an extensive search among many candidates in the
insurance and financial services industries, with a focus on finding a
well-rounded executive with experience in the public markets. After
extensive due diligence, John emerged as the clear choice to lead
United. He has a unique combination of strategic and finely-honed
operational skills, a significant track record in working with
publicly-held insurance companies. We are very pleased to have John join
the Company and look forward to working closely together to help United
succeed.”
Background on Mr. John Forney
Mr. Forney has over 21 years of executive experience in a variety of
industries, primarily financial services. From 2002 until his
appointment at United, Mr. Forney served in a number of capacities at
Raymond James. During his tenure, he developed special expertise in the
property insurance sector through his work with government-sponsored
insurance entities in Florida, California, Louisiana, and Texas, as well
as a major national insurance industry consortium.
He frequently speaks at insurance industry conferences, and has
testified on insurance industry issues for legislatures in Florida,
Texas, New Jersey, New York, and California.
Mr. Forney holds a B.A. in Economics from Princeton University and an
M.B.A. in finance from the Wharton School at the University of
Pennsylvania, where he was the recipient of a Morgenthau Public Policy
Fellowship. He also holds the Chartered Financial Analyst designation.
He is a former infantry officer and graduate of the U.S. Army’s Ranger
School, the military’s most challenging course for combat leaders.
Mr. Forney stated, "I am extremely honored and excited to join United.
The Company has a high performing, complementary team of professional
managers that have helped provide a strong and stable Company for our
agents, policyholders, and employees. I look forward to working with the
Board and senior management to advance United towards the next phase of
its growth.”
About United Insurance Holdings Corp.
Founded in 1999, United Property and Casualty Insurance Company, a
subsidiary of United Insurance Holdings Corp., writes and services
property and casualty insurance in Florida, South Carolina,
Massachusetts and Rhode Island. From its headquarters in St. Petersburg,
United's team of dedicated employees manages a completely integrated
insurance company, including sales, underwriting, customer service and
claims. The Company distributes its homeowners, dwelling fire and flood
products through many agency groups and conducts business through four
wholly-owned subsidiaries. Homeowners insurance constitutes the majority
of United's premiums and policies.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50308646&lang=en
United Insurance Holdings Corp.
John Rohloff, (727) 895-7737
Interim
Chief Financial Officer
jrohloff@upcic.com
or
INVESTOR
RELATIONS:
The Equity Group
Adam Prior, (212)
836-9606
Vice President
aprior@equityny.com
or
Terry
Downs, (212) 836-9615
Account Executive
tdowns@equityny.com
Source: United Insurance Holdings Corp.