Hugo Simberg

FedNat’s Strategic Review Committee Provides Update

Retrieved on: 
Wednesday, September 15, 2021
Storm, Board, Form 10-K, SUNRISE, Insurance, Company, Weather, Private Securities Litigation Reform Act, LAE, SRC, Terminology, Policy, NASDAQ, Disclosure, Review, GLOBE, Hugo Simberg, February 13–17, 2021 North American winter storm, Management, Risk management

The SRC is composed of three of FedNats independent directors and has Piper Sandler & Co. as its financial advisor.

Key Points: 
  • The SRC is composed of three of FedNats independent directors and has Piper Sandler & Co. as its financial advisor.
  • Bruce F. Simberg, FedNats Chairman of the Board and Chairman of the SRC, said, Since the creation of the SRC last year, it has met at least weekly with our financial and legal advisors to identify and, if possible, implement strategic transactions.
  • Simberg added, We recently have entered into a strategic advisory arrangement with one of our significant shareholders, Steven A. Hale.
  • There can be no assurance that the strategic review will result in a transaction or other course of action.