Fortegra Announces Edward Peña as the new CFO

The subsidiary of Tiptree Inc., Fortegra Group, has introduced Edward Peña as its newly appointed chief financial officer, starting from August 28th.

Peña is set to take over the role of the current CFO, Mike Grasher. The current CFO will transition to become the executive vice president of international business development.

Grasher, the outgoing CFO, played a significant role in ensuring Fortegra’s sustained growth and profitability since rejoining the firm in October 2015. Guided by his leadership, the company accomplished substantial milestones, surpassing the benchmarks of $1 billion, $2 billion, and now $3 billion in gross written premiums. In his new role as executive vice president of international business development, Grasher will concentrate on expanding Fortegra’s specialized insurance subsidiaries in the UK and the European Union. He will report directly to Kahlbaugh.

Before joining Fortegra, he held the position of CFO within Liberty Mutual’s Global Retail Markets division. He has also assumed various roles at Coaction Specialty Insurance and J.P. Morgan. With a career spanning over two decades in the insurance, finance, and mergers and acquisitions sectors, Peña brings a wealth of experience.

Rick Kahlbaugh, CEO of Fortegra, expressed enthusiasm about Peña’s addition to the team. He highlighted Peña’s extensive skill set and background, which are poised to bolster the current and future trajectory of the company.

Peña himself expressed honor in being selected as CFO during a pivotal phase of Fortegra’s growth. “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,” Peña said.

Kahlbaugh has expressed his confidence in Grasher, saying, “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.”

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