Foley Resigns from NationsBuilders

Atlanta-based NationsBuilders Insurance Services Inc. (NBIS), founder and exclusive program underwriter for ProBuilders Specialty Insurance Company RRG, announced that Peter H. Foley resigned from his positions of president, CEO, and director to pursue other interests.

The company said it is not making any structural changes to its business strategy or model, noting NBIS has experienced profitable growth in recent years.

“We are excited about the prospects for continuing the company’s strong performance in 2008,” said Ned N. Fleming III, chairman of the Board of NBIS. “Following years of robust performance since 2002 and an anticipated 18 percent return on equity in 2007, despite difficult market conditions, we expect to grow in 2008,” said Ron Smith, chief financial officer of NBIS.

Source: NBIS, www.nbis.com