National General Announces Hiring of New SVP of Capital Strategy and Investor Relations

Rhea-AI Summary

National General Holdings Corp. (NGHC) has appointed Clifford Gallant as senior vice president of capital strategy and investor relations. Gallant, a seasoned professional in the insurance sector, will report to CFO Mike Weiner and focus on enhancing investor relationships and corporate strategy. He has a robust background, previously managing an insurance portfolio for Philadelphia Financial Management and acting as a research analyst at Nomura. National General, founded in 1939, specializes in various insurance products and holds an A- financial strength rating from A.M. Best.

Positive

• Appointment of Clifford Gallant as SVP enhances investor relations and capital strategy.
• Gallant brings extensive experience from Philadelphia Financial Management and Nomura.
• Company has a technology edge and diversified portfolio of insurance products.

Negative

• None.

NEW YORK, June 11, 2020 (GLOBE NEWSWIRE) -- National General Holdings Corp. (Nasdaq: NGHC) today announces the hiring of Clifford Gallant to the position of senior vice president of capital strategy and investor relations.

Gallant, an insurance industry veteran with deep financial analyst roots, will be responsible for ensuring the company’s appropriate positioning and engagement with analysts, investors, and other stakeholders. Reporting to Mike Weiner, the chief financial officer, Gallant will also collaborate on capital positioning and corporate strategy.

Gallant most recently served as the insurance sector portfolio manager for Philadelphia Financial Management of San Francisco, a high performing financials-focused hedge fund, where he managed an equity portfolio invested in global insurance companies.  He previously served as a sell-side research analyst for Nomura, a global financial services group. Before that, Gallant served as managing director for KBW, a large investment bank and financial services platform, where he led the creation of KBW’s insurance research product.

“I am thrilled to join National General, especially at this point in the company’s evolution. They have a technology edge and a highly diversified portfolio of insurance products and services,” said Gallant. “That combination speaks to the company’s culture of innovation and forward-looking vision, making it an exciting place to be.”

“We look forward to Cliff’s deep industry experience to help us further develop investor relationships and deepen their understanding of National General’s vision and strategy to deliver shareholder value,” said Mike Weiner, National General’s chief financial officer.

Paul Anderson, who served in the interim role of investor relations lead, will aid in Gallant’s transition, as he transitions back to his full-time role as a product innovation and incubation lead for the company.

About National General Holdings Corp.
National General Holdings Corp., headquartered in New York City, is a specialty personal lines insurance holding company. National General traces its roots to 1939, has a financial strength rating of A- (excellent) from A.M. Best, and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.

Forward Looking Statements

This news release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. Forward-looking statements can generally be identified by the use of forward-looking terminology, such as “may,” “will,” “plan,” “expect,” “project,” “intend,” “estimate,” “anticipate” and “believe” or their variations or similar terminology. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those expressed or implied in these statements as a result of significant risks and uncertainties, including, but not limited to, non-receipt of expected payments from insureds or reinsurers, changes in interest rates, a downgrade in the financial strength ratings of our insurance subsidiaries, the effect of the performance of financial markets on our investment portfolio, our ability to accurately underwrite and price our products and to maintain and establish accurate loss reserves, estimates of the fair value of investments, development of claims and the effect on loss reserves, large loss activity including hurricanes and wildfires, the cost and availability of reinsurance coverage, the effects of emerging claim and coverage issues, the effect of unpredictable catastrophic losses, changes in the demand for our products, our degree of success in integrating acquired businesses, the effect of general economic conditions, state and federal legislation, the effects of tax reform, regulations and regulatory investigations into industry practices, risks associated with conducting business outside the United States, developments relating to existing agreements, disruptions to our business relationships with third party or vendor agencies, breaches in data security or other disruptions involving our technology, heightened competition, changes in pricing environments, and changes in asset valuations. The forward-looking statements contained in this news release are made only as of the date of this release. The Company undertakes no obligation to publicly update any forward-looking statement except as may be required by law. Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those projected is contained in the Company’s filings with the Securities and Exchange Commission.

Investor Contact
Paul Anderson
Director of Investor Relations
Phone: 212-380-9462
Email: Paul.Anderson@NGIC.COM

Media Contact
Kevin Fuschich
Media Relations
Phone: 336-435-3965
Email: MediaRelations@NGIC.COM

FAQ

Who is the new senior vice president of National General Holdings Corp. (NGHC)?

Clifford Gallant has been appointed as the new senior vice president of capital strategy and investor relations.

What is the financial background of Clifford Gallant at NGHC?

Clifford Gallant has experience as an insurance sector portfolio manager and previously worked as a research analyst at Nomura.

What is the significance of Gallant's appointment for NGHC's investor relations?

Gallant's appointment is expected to strengthen NGHC's engagement with analysts and investors, improving corporate strategy.

What rating does National General Holdings Corp. (NGHC) hold from A.M. Best?

National General has a financial strength rating of A- (excellent) from A.M. Best.