Fortegra taps new CFO
Fortegra taps new CFO | Insurance Business America
Insurance News
Fortegra taps new CFO
Outgoing finance chief to step into new position with the company
Insurance News
By
Steven Byerley
The Fortegra Group, a global specialty insurer and subsidiary of Tiptree Inc., has announced the appointment of Edward Peña as its new chief financial officer, effective Aug. 28.
Peña will succeed current CFO Mike Grasher, who is moving to the role of executive vice president of international business development.
Peña brings with him over two decades of experience in the insurance, finance, and mergers and acquisitions sectors. Prior to joining Fortegra, Peña held the position of CFO in Liberty Mutual’s Global Retail Markets division. He has also held various positions at Coaction Specialty Insurance and J.P. Morgan.
“We are thrilled to have Ed join the Fortegra team,” said Rick Kahlbaugh, CEO of Fortegra. “The breadth and range of his talents and experience will serve to support the current and future trajectory of the Company. Ed is immensely talented, and I am eager to start working with him.”
“It is an honor to be appointed CFO at such a critical point in Fortegra’s growth trajectory,” Peña said. “Under the leadership of Rick Kahlbaugh, Fortegra has grown into a leading global specialty insurer in the most thoughtful and strategic of ways. I am looking forward to working with our team to continue that momentum.”
Grasher, the outgoing CFO, has played a pivotal role in Fortegra’s consistent growth and profitability since rejoining the company in October 2015. Under his guidance, the company has achieved significant milestones, surpassing the $1 billion, $2 billion, and now $3 billion gross written premium thresholds. As executive vice president of international business development, Grasher will focus on expanding Fortegra’s specialty insurance companies in the UK and the European Union. He will continue reporting to Kahlbaugh.
“Mike knows our business, knows our strategy and is uniquely suited to spearhead this strategic initiative,” Kahlbaugh said. “I am confident that he and the team in London will build Fortegra’s specialty insurance presence in strategic markets abroad, further accelerating our growth.”
Peña is the latest addition to Fortegra’s roster. In May, the company appointed Abby Taylor as chief operating officer and Joe Lettween as chief innovation, data science, and technology officer.
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