This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Global Indemnity Plc Announces:

DUBLIN, Sept. 15, 2011 /PRNewswire/ -- Saul Fox, Chairman of Global Indemnity plc (NASDAQ:GBLI), today announced the appointment of Cynthia Valko as Chief Executive Officer of Global Indemnity plc and as a member of the company's Board of Directors, both effective September 19, 2011.

(Logo: http://photos.prnewswire.com/prnh/20100803/LT45156LOGO )

Ms. Valko succeeds Larry Frakes, who had informed Global Indemnity's Board of his intention to retire at the expiration of his contract in December.  

In making the announcement Mr. Fox said: "We are delighted that Cindy Valko will be leading Global Indemnity given her exemplary record of profitably growing insurance businesses in highly competitive markets, both in the U.S. as well as offshore. I also wish to thank Larry Frakes for his four years of dedicated service as the company's CEO".

Mr. Frakes added, "The last several years were very challenging as well as rewarding.  I enjoyed working with Saul and the other directors of the Global Indemnity along with the company's producers, employees, and reinsurers and I look forward to working with Cindy as she transitions to her new role."

Cynthia Valko noted, "Given Global Indemnity's outstanding balance sheet, national primary insurance and international reinsurance footprint, and first rate management team, Global Indemnity provides an excellent platform for profitable growth."

Cynthia Valko has an extensive property casualty, agency and general insurance company management background and experience, most recently serving as Senior Vice President of Commercial Lines at GMAC Insurance.  Ms. Valko has also held leadership roles at New York Life International, Aetna Life and Casualty, the American Council of Life Insurance (ACLI), and the International Global Financial Leadership Forum.

CONCLUSION OF ITS EVALUATION OF STRATEGIC ALTERNATIVES

Global Indemnity's Board of Directors, having completed its previously announced evaluation of the company's "strategic alternatives," determined that Global Indemnity will continue as an independent provider of primary and reinsurance specialty insurances products and services.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs