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.
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 ForneyMr. 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.
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