SUNRISE, Fla., Jan. 29, 2016 (GLOBE NEWSWIRE) -- Federated National Holding Company (Nasdaq:FNHC), a Florida-based provider of insurance, announced today that Bruce F. Simberg has rejoined the Company’s Board of Directors and will resume his role as Chairman of the Board, effective immediately.
Mr. Simberg previously served as a member of the Company’s Board, and it’s Chairman, from 1998 until March 2015, when he resigned from the Board for personal reasons. Mr. Simberg has advised the Board that his other personal commitments, including his law practice, have matured so that he can once again dedicate the necessary time and attention to serving on the Board as its Chairman. He brings to the Board his extensive historical knowledge about the Company and its operations, as well as his extensive experience with the insurance industry.
“We are delighted that Bruce is able to rejoin us, enabling us to benefit from his extensive knowledge about the Company and the insurance industry,” Michael H. Braun, the Company’s Chief Executive Officer, said.
In connection with Mr. Simberg’s election, the Board approved a resolution increasing the size of the Board from seven to eight directors. Six members of the Company’s Board are independent, reflecting a diverse set of skills and experiences in the areas of reinsurance, underwriting, agents, financial reporting, compliance and investments.
About the Company
The Company is authorized to underwrite, and/or place through our wholly owned subsidiaries, homeowners' multi-peril ("homeowners"), commercial general liability, federal flood, personal auto and various other lines of insurance in Florida and various other states. The Company also serves as managing general agent for its joint venture, Monarch National Insurance Company. The Company markets and distributes its own and third-party insurers' products and our other services through a network of independent agents. The Company also utilizes a select number of general agents for the same purpose.