Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - PENN MILLERS HOLDING CORP | v173471_8k.htm |
| EX-10.1 - EMPLOYMENT AGREEMENT BETWEEN PENN MILLERS HOLDING CORPORATION, PENN MILLERS INS - PENN MILLERS HOLDING CORP | v173471_ex10-1.htm |
News
Release
FOR
IMMEDIATE RELEASE
Contact: Kathleen
A. Granko
Phone:
570.200.1304
Fax:
570.829.4568
E-mail: kgranko@pennmillers.com
PENN
MILLERS HOLDING CORPORATION
APPOINTS
KEITH A. FRY SENIOR VICE PRESIDENT
February
9, 2010-- Penn Millers Holding Corporation has announced that Keith A. Fry has
been appointed Senior Vice President, Commercial Business.
Fry has
over 30 years of insurance industry experience and previously served as
President and CEO of Great Lakes Casualty Insurance. He was employed
for twenty years at Harleysville Insurance, and served as Senior Vice President
– Subsidiary Operations from 2002-2004 and served as President and Chief
Operating Officer for Harleysville Lake States Insurance from
1997-2002.
Fry will
oversee Penn Millers’ Commercial Business segment and lead key strategic
initiatives to increase Commercial Business market share including the targeted
geographic expansion of the Company’s new PennEdge® middle- market product
and growing the Company’s independent agency force.
“Keith is
a great addition to Penn Millers’ team. He has a wealth of experience in leading
growing and profitable insurance operations and is well-suited to drive the
expansion of PennEdge® into states where we currently insure Agribusiness
operations,” said Douglas A. Gaudet, Penn Millers’ President and
CEO.
Mr. Fry
graduated magna
cum laude from the University of Maryland, and is a Chartered Property
and Casualty Underwriter.
Some of the statements contained in this
press release are “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of these terms or other
terminology. Forward-looking statements are based on the opinions and estimates
of management at the time the statements are made and are
subject to certain risks and uncertainties that could cause actual results to
differ materially from those anticipated in the forward-looking statements.
Factors that could affect the company’s actual results include, among others, the fact that our loss
reserves are based on estimates and may be inadequate to cover our actual
losses; the uncertain effects of emerging claim and coverage issues on our
business; the geographic concentration of our business; an inability
to obtain or collect on our reinsurance
protection; a downgrade in the A.M. Best rating of our insurance subsidiaries;
the impact of extensive regulation of the insurance industry and legislative and
regulatory changes, a failure to realize our investment objectives; the effects of intense
competition; and a failure of independent insurance brokers to adequately market
our products. More information about these and other factors that potentially
could affect our financial results is included in our Form S-1 Registration Statement, filed with the
SEC and in our other public filings with the SEC. Readers are cautioned not to
place undue reliance upon these forward-looking statements, which speak only as
of the date of this release. The company undertakes no obligation to update any forward-looking
statements.
Penn
Millers Insurance Company, a wholly-owned insurance company subsidiary of Penn
Millers Holding Corporation (NASDAQ:PMIC), provides Agribusiness insurance
in 33 states and Commercial Lines insurance in 8 states. Incorporated in 1887,
Penn Millers Insurance Company is rated "A-" (Excellent) by A.M. Best Company,
Inc. For additional information, visit us on the web at www.pennmillers.com.
###