San Diego, CA, 08/03/2011 – ARROWHEAD General Insurance Agency, Inc. announced that its board of directors has named current chief financial officer and executive vice president Mac Armstrong its chief operating officer. Armstrong will continue in his current roles in addition to his new position.
Arrowhead’s chief executive officer, Chris Walker, said in an announcement to Arrowhead employees that Armstrong was asked to take on this additional role to further help Arrowhead execute its long-term strategy of organic growth from existing programs combined with selected acquisitions. “Over the last two years, Mac has proven to be a major contributor to our success at Arrowhead as our CFO and EVP as well as leading our corporate development and acquisitions efforts,” Walker said. “We’re thrilled to have him take on additional operating responsibilities including overseeing our information systems and technology teams as well as our human resources department.”
Armstrong joined Arrowhead in July 2009 after leading the Spectrum Equity Investors management buyout of Arrowhead in 2006 and has been a member of the Arrowhead board of directors since the acquisition.
“I am very excited to take on this new role,” said Armstrong. “I’m optimistic that my prior experience will only further strengthen Arrowhead’s operating acumen and business model. Our technology and corporate infrastructure are two of Arrowhead’s differentiators. They will continue to prove essential as we scale our business through both organic growth and acquisitions.”
Arrowhead has been actively acquiring program managers and third party claims administrators that want to leverage Arrowhead’s operating infrastructure and distribution network to successfully expand. The Company’s recent acquisition successes include Alexander Anthony, a real estate agents errors and omissions program manager, and Trafalgar Marine Insurance Services, a marine program manager.
“As we continue to source acquisitions, we will also look to our long-standing insurance company partners to develop new programs,” Armstrong said. “Our operating infrastructure allows us to execute on both fronts.”
“We really do have a wonderful group of top-rated carrier partners,” said Walker. “It is incumbent upon Arrowhead to continue to support our existing programs as well as launch new ones that drive profitable growth for all parties. Our infrastructure, especially our technology, should allow us to do so.”
Arrowhead General Insurance Agency, Inc., headquartered in San Diego, is an independent national insurance program manager for commercial and personal products and is one of the largest privately held general agencies in the U.S. with $630 million written premium in 2010. Arrowhead’s relationships with strong insurance carriers provide stability for its nationwide network of producers. We invite insurance agencies and companies from coast to coast to grow with us. For more information about our products and services, please visit us at ArrowheadGrp.com.
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