Mark E. Pape Appointed to the Board of Directors of Specialty Underwriters' Alliance, Inc.
01 Julho 2009 - 6:36PM
PR Newswire (US)
CHICAGO, July 1 /PRNewswire-FirstCall/ -- Specialty Underwriters'
Alliance, Inc. (NASDAQ:SUAI) ("SUA" or the "Company") today
announced that Mark E. Pape has been appointed to the Company's
Board of Directors to fill a vacancy on the SUA Board. Mr. Pape, a
seasoned insurance executive, is currently a partner at Tatum LLC,
the largest executive service firm in the nation focused on
providing temporary CFOs and other employees for companies. Mr.
Pape previously served as a director and Executive Vice President
and Chief Financial Officer at Affirmative Insurance Holdings, Inc.
He has also held positions in several other insurance companies,
including Torchmark Corporation and American Income Holding, Inc.
Mr. Pape was appointed to SUA's Board pursuant to the previously
announced agreement among SUA, Hallmark Financial Services, Inc.
and certain other parties. Mr. Pape will fill the vacancy created
by the resignation of Peter E. Jokiel as a director of the Company.
Mr. Jokiel resigned as a director pursuant to that agreement, but
he continues to serve as the Company's Executive Vice President and
Chief Financial Officer. Courtney C. Smith, Chairman of the Board
stated, "I would like to express our sincere thanks to Pete for his
valuable contributions to the board. He has been a director since
our inception and SUA would not be the company it is today without
his dedication, imagination and wisdom." Mr. Smith continued, "Our
board members are excited to be working with Mark, and we look
forward to his contributions. His industry experience and expertise
are an ideal addition to our board." About Specialty Underwriters'
Alliance, Inc. Specialty Underwriters' Alliance, Inc., through its
subsidiary SUA Insurance Company, is a specialty property and
casualty insurance company providing commercial insurance products
through exclusive wholesale Partner Agents that serve niche groups
of insureds. These targeted customers require highly specialized
knowledge due to their unique risk characteristics. Examples
include tow trucks, professional employer organizations, public
entities, and contractors. SUA's innovative approach provides
products and claims handling, allowing the Partner Agent to focus
on distribution and customer relationships. Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. This release or any
other written or oral statements made by or on behalf of the
company may include forward-looking statements that reflect the
company's current views with respect to future events and financial
performance. All statements other than statements of historical
fact included in this release are forward-looking statements.
Forward-looking statements can generally be identified by the use
of forward-looking terminology such as "may," "will," "plan,"
"expect," "intend," "estimate," "anticipate," "believe" or
"continue" or their negative or variations or similar terminology.
All forward-looking statements address matters that involve risks
and uncertainties. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements. We believe that these
factors include but are not limited to ineffectiveness or
obsolescence of our business strategy due to changes in current or
future market conditions; increased competition on the basis of
pricing, capacity, coverage terms or other factors; greater
frequency or severity of claims and loss activity, including as a
result of natural or man-made catastrophic events, than our
underwriting, reserving or investment practices anticipate based on
historical experience or industry data; the effects of acts of
terrorism or war; developments in the world's financial and capital
markets that adversely affect the performance of our investments;
changes in regulations or laws applicable to us, our subsidiaries,
brokers or customers; acceptance of our products and services,
including new products and services; changes in the availability,
cost or quality of reinsurance and failure of our reinsurers to pay
claims timely or at all; decreased demand for our insurance or
reinsurance products; loss of the services of any of our executive
officers or other key personnel; the effects of mergers,
acquisitions and divestitures; changes in rating agency policies or
practices; changes in legal theories of liability under our
insurance policies; changes in accounting policies or practices;
and changes in general economic conditions, including inflation and
other factors. Forward-looking statements speak only as of the date
on which they are made, and the company undertakes no obligation to
update publicly or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise. To
learn more about Specialty Underwriters' Alliance Inc., please
visit http://www.suainsurance.com/. DATASOURCE: Specialty
Underwriters' Alliance, Inc. CONTACT: Scott Goodreau of Specialty
Underwriters' Alliance, Inc., 1-888-782-4672, ; or Leslie Loyet of
Financial Relations Board, +1-312-640-6672, , for Specialty
Underwriters' Alliance Inc. Web Site: http://www.suainsurance.com/
Copyright