First Acceptance Corporation Welcomes Brent J. Gay as Senior Vice President and Chief Financial Officer
July 01 2013 - 7:30AM
First Acceptance Corporation
Welcomes Brent J. Gay as Senior Vice President and Chief
Financial Officer
NASHVILLE, TN, July 1, 2013 - First Acceptance
Corporation (NYSE: FAC) today announced the appointment of Brent J.
Gay as the Company's Senior Vice President and Chief Financial
Officer. Mr. Gay will assume his position with the Company
effective July 22, 2013 and will serve as the Company's principal
financial and accounting officer overseeing the finance, treasury,
planning, actuarial and product development functions.
Prior to joining the Company, Mr. Gay served as
the Chief Financial Officer of Titan Insurance, the non-standard
automobile insurance division of Nationwide Insurance since
December 2011. Mr. Gay joined Nationwide in 2006 and held
various financial planning and analysis roles of increasing
responsibility within Nationwide's property & casualty
operations. From 1999 to 2006, Mr. Gay held several finance
leadership roles at General Motors Corporation in various
divisions.
Mr. Gay has an MBA from the Darden Graduate School
of Business at the University of Virginia, a Bachelors degree in
International Business and Economics from Ohio Northern University
and holds the Certified Property & Casualty Underwriter (CPCU)
designation.
The Company's President, Joe Borbely stated,
"Brent joins First Acceptance at an exciting time in its history.
The Company continues to focus on developing and strengthening its
capabilities across the organization. We are confident that
Brent leadership will advance the Company and its goals."
Mr. Gay added, "I am thrilled to be joining First
Acceptance, as momentum is clearly building across the business.
I look forward to working with the First Acceptance team to
continue to that momentum."
About First Acceptance
Corporation
We are a retailer, servicer and underwriter of
non-standard personal automobile insurance based in Nashville,
Tennessee. We currently write non-standard personal automobile
insurance in 12 states and are licensed as an insurer in 13
additional states. Non-standard personal automobile insurance is
made available to individuals who are categorized as "non-standard"
because of their inability or unwillingness to obtain standard
insurance coverage due to various factors, including payment
history, payment preference, failure in the past to maintain
continuous insurance coverage, driving record and/or vehicle type,
and in most instances who are required by law to buy a minimum
amount of automobile insurance.
At March 31, 2013, we leased and operated 367
retail locations, staffed with employee agents. Our employee-agents
primarily sell non-standard personal automobile insurance products
underwritten by us, as well as certain commissionable ancillary
products. In most states, our employee-agents also sell a
complementary tenant homeowner insurance product underwritten by
us. In addition, during the three months ended March 31, 2013,
select retail locations in highly competitive markets in Illinois
and Texas began offering non-standard personal automobile insurance
serviced and underwritten by other third-party insurance carriers.
We are able to complete the entire sales process over the phone or
through our consumer-based website. In addition to our retail, call
center and website, we also sell our products through 13 retail
locations operated by independent agents. Additional information
about First Acceptance Corporation can be found online at
www.acceptanceinsurance.com.
SOURCE: First Acceptance
Corporation
INVESTOR RELATIONS
CONTACT:
Michael J. Bodayle
615.844.2885
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: First Acceptance Corporation via Thomson Reuters
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