TAMPA, Fla., April 19 /PRNewswire/ -- Imerica Life and Health Insurance Company today announced the recent appointment of Rod Farmer as President and Chief Executive Officer. Also joining the Imerica management team are Jeff Crippen as Chief Sales and Marketing Officer, Tom Keller as Chief Financial Officer and Craig Magnuson as Senior Vice President and Chief Actuary.
As President and Chief Executive Officer, Rod Farmer brings over 29 years of insurance leadership experience, most recently as an executive vice president at Trustmark. While at Trustmark, Mr. Farmer directed the performance of six medical divisions in the Employee Benefits Division with 2,800 employees. Earlier while at Trustmark, Mr. Farmer served as Sr. Vice President of Individual Health Products.
As Chief Sales and Marketing Officer, Jeff Crippen brings 34 years of sales management experience to the company. Prior to joining Imerica, Mr. Crippen led the successful expansion of HumanaOne in nine Eastern states. Previously, Mr. Crippen led the start-up of Unicare Life and Health and managed several sales regions at Time Insurance Company (Fortis).
Tom Keller joined Imerica as Chief Financial Officer in late 2004. Mr. Keller previously served as President of Fortis Health. Mr. Keller is supported by Craig Magnuson, FSA, who joins Imerica as Sr. Vice President and Chief Actuary. Mr. Magnuson served with Assurant Health (formerly Fortis) for 18 years, most recently as Vice President, Renewal and Compliance Actuary. He also served as Vice President for New Business Pricing and as Vice President, Individual Medical Actuary.
Mr. Farmer stated: "I am truly excited about the opportunity to lead Imerica. Our management team is the best in the individual insurance market, and we are well positioned to bring highly competitive products to this market, such as our high deductible HSA product series. Look for great things to come from Imerica in the months and years ahead."
Imerica also announced that Bain Capital Ventures has invested a total of $13.5 million in Imerica to support the growth of the business and position the company with significant capital and surplus to ensure a conservatively capitalized balance sheet. "We continue to be impressed with Imerica's position in the individual insurance market and look forward to working with Rod and the entire management team as they introduce new product offerings in the coming months," said James Nahirny, managing director at Bain Capital Ventures and Imerica Board member.
About Imerica Life and Health
Imerica Life and Health is setting the new standard in the health insurance industry with a portfolio of HSA-qualifying High Deductible Health Plans catering to the Consumer Driven Healthcare marketplace. Imerica leverages only the best technology to provide agents and customers a complete online application process with e-signatures, fast decision turnaround and real-time access to case information.
Imerica Life and Health is a wholly owned subsidiary of Imerica Financial Corporation, a holding company backed by Bain Capital. Imerica, headquartered in Tampa, FL, is currently writing in Arizona, Colorado, Georgia, Illinois, South Carolina and Texas, and is poised to launch its insurance products in additional states in 2005. For more information about Imerica, visit their web site at http://www.imerica.com/ .
About Bain Capital Ventures
Bain Capital Ventures, the venture capital arm of Bain Capital, leverages the institutional advantages and consulting-based approach of Bain Capital to build industry-leading businesses. Focusing on sectors such as healthcare, software, wireless, business services, and consumer, Boston-based Bain Capital Ventures benefits from the broader resources of Bain Capital, which includes over 160 investment professionals, a network of over 225 portfolio companies, over $23 billion of assets under management, and the knowledge from 20 years of successful venture investing. For more information, visit http://www.baincapitalventures.com/ .
Imerica Life and Health Insurance Company Live Well. Buy Smart. Contact: Jennifer Watson Seitz SVP, Marketing and Communications 3501 East Frontage Road, Suite 300, Tampa, FL 33607 Tel: 813-313-4473 Fax: 813-287-1371 E-mail: jseitz@imerica.com
Imerica Life and Health Insurance CompanyCONTACT: Jennifer Watson Seitz, SVP, Marketing and Communications,Imerica Life and Health Insurance Company, +1-813-313-4473, or fax,+1-813-287-1371, or jseitz@imerica.com