HARTFORD, Conn.--(BUSINESS WIRE)--IFG Companies (www.ifgcompanies.com) is pleased to announce the promotion of Manual Almagro (Manny) to the position of Chief Financial Officer. Mr. Almagro, who is located in IFG's Hartford office, will report to Christopher Lewis, Group President, and will continue to serve as a member of IFG's executive leadership team. Manny will be responsible for the continued advancement of the IFG finance team, while supporting IFG’s long-term vision to grow book value through profitable growth. Manny has been the Chief Actuary at IFG Companies since 2000, with previous leadership positions at the Travelers Insurance Companies and Towers Watson.
IFG Companies is also pleased to announce the promotion of Andrew P. Kempen (Andy) to the position of Chief Actuary. Andy, who will report to the Chief Financial Officer, has been IFG’s Chief Pricing Actuary since 2015. Prior to joining IFG, Andy served in a number of actuarial roles of increasing responsibility including positions at Milliman, ING, United Services Automobile Association and Argo Group International Holdings, Ltd.
"Manny Almagro and Andy Kempen have been consistent leaders for IFG Companies and we are pleased with their promotions into these leadership positions," said Robert D. Linton, Chairman of IFG Companies.
Joseph P. Hoffmann, the prior Chief Financial Officer, will continue to report to the Group President and will be moving into a new role to support IFG Companies and the Group President on Strategic Initiatives.
Founded in 1985, IFG Companies is one of the largest privately-held insurance groups in the United States. IFG has two principal segments of business, the Bind Division and the Brokerage Division. The Bind Division offers liability and property coverage for smaller businesses and other entities written through a national network of contracted producers. There are two business units within the Bind Division - Property and Casualty and the Garage Unit. The Brokerage Division Offers liability and property coverage to meet the specialized needs of small to medium-sized firms as well as certain larger businesses. There are four business units within the Brokerage Division: Primary Casualty, Excess Casualty, Primary Property and Inland Marine. Insurance underwritten by the business units may be issued through one of four affiliated insurers which are indirect, wholly-owned subsidiaries of IFG: Alamance Insurance Company, The Burlington Insurance Company, First Financial Insurance Company and Guilford Insurance Company. All hold a financial strength rating of A (Excellent) IX from A. M. Best Company. Through these insurance companies, which operate under common management and general procedures, IFG Companies has the ability to underwrite on both an admitted and a non-admitted basis in all states and in the District of Columbia. As a private company, IFG is focused on profitable growth through superior underwriting of a range of products and service to its producers and insureds.