Global specialty insurer and a subsidiary of Tiptree Inc., The Fortegra Group, Inc., has announced the appointment of Edward Peña as Chief Financial Officer (CFO) effective starting August 28th, 2023.
Mike Grasher, Fortegra’s current CFO, will transition to the role of Executive Vice President of International Business Development.
Rick Kahlbaugh, Chief Executive Officer (CEO) of Fortegra, commented on the appointment: “We are thrilled to have Ed join the Fortegra team. 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.”
Peña, a trusted leader with more than two decades of insurance, finance and mergers and acquisitions expertise, joins the firm from Liberty Mutual, where he served as CFO of its Global Retail Markets division
Earlier in his career, Peña held various positions at Coaction Specialty Insurance and J.P. Morgan.
Peña commented: “It is an honour to be appointed CFO at such a critical point in Fortegra’s growth trajectory. 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 rejoined the firm as CFO in October 2015, and has been instrumental in the company’s consistent growth and profitability. During his tenure, Fortegra reached the $3 billion gross written premium threshold.
As EVP of International Business Development, Grasher will build out Fortegra’s specialty insurance companies in the UK and the European Union and will continue reporting to CEO Kahlbaugh.
Kahlbaugh concluded: “Mike knows our business, knows our strategy and is uniquely suited to spearhead this strategic initiative. 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.”
