Ibexis Life & Annuity Insurance Company® Announces New CFO and Promotions

Enhances Team Structure in Line with Sales Growth

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--In response to continued growth, Ibexis Life & Annuity Insurance Company® (“Ibexis”) appointed Kevin Tapp as Chief Financial Officer (“CFO”) and promoted Alex Rupelli to Executive Vice President and Kyle Hales to Controller.

Kevin Tapp Appointed Chief Financial Officer

Kevin brings 25 years of insurance investment banking experience to Ibexis. As CFO, he oversees Ibexis’ financial forecasting and reporting, capital planning, tax, and budget management. Kevin joins the Executive Management Team and reports directly to Chief Executive Officer (“CEO”), Nate Gemmiti.

Previously, Kevin was Head of Insurance Investment Banking at Truist Securities. His career also includes similar roles in the Financial Institutions Group at BMO Capital Markets and Wells Fargo Securities. Kevin began his investment banking career at Credit Suisse First Boston.

Over his career, Kevin has advised many insurance companies and investors. His notable engagements include AXA Equitable on its life insurance subsidiaries, Symetra Financial on its structured annuity business, and Transamerica (Aegon) on its payment annuity and other business. In addition, he worked with both Wells Fargo and Truist on matters relating to their respective insurance brokerage divestures.

"We are extremely fortunate to have Kevin on the Executive Team," said Nate Gemmiti, CEO. “His extensive financial experience across the insurance industry brings sophistication and strategic vision to our finance function.”

Ibexis Promotes Two Other Key Employees

Alex Rupelli, the Company’s Chief Actuary, was promoted from Senior Vice President to Executive Vice President in recognition of his valuable ongoing contributions to Ibexis since its rebranding. Alex continues to lead the reserving, valuation, pricing, and product design functions.

Kyle Hales was promoted from Manager, Finance & Operations to Controller in recognition of the expansion of his responsibilities and success at Ibexis. As an Officer of the Company, Kyle will lead all accounting activities, as well as support the preparation of financial statements in accordance with regulatory and accounting requirements.

Nate Gemmiti, CEO, commented on the promotions, "Alex and Kyle have consistently demonstrated exceptional dedication and expertise. These promotions reflect their significant contributions to Ibexis and our commitment to fostering talent within our organization. Congratulations to both of them."

About Ibexis Life & Annuity Insurance Company®

Founded in 1937, Ibexis offers fixed annuities to help clients protect their financial future and prepare for retirement. Our fixed annuities can help individuals accumulate interest without risk of losing principal and provide guaranteed income during retirement. Ibexis’ Financial Strength is rated A- (“Excellent”) by AM Best (4^th highest of 13) with a Stable Outlook, affirmed May 2024. Please visit the Company’s website at www.ibexis.com.