The Republican lawsuit targets reinsurance that helps insurance companies provide universal coverage without accounting for pre-existing conditions.
Direct General announced that it has named Carey D. Benson, 59, former AutoOne Insurance Chief Executive Officer, as its new President & CEO, effective immediately. Mr. Benson takes over for Dan Tarantin, who will continue to be an investor and serve as an advisor to the Board of Directors.
Mr. Benson brings to the position 35 years of experience in the insurance industry, including service as CEO of AutoOne Insurance, CEO of the Home State Insurance Group, President and CEO of Charter Insurance Companies, and several senior roles with Skandia, Republic Insurance and AEGON.
"Operating as both a COO and CEO, Carey has extensive experience and a great track record in starting up new businesses and building them to their fullest potential," said Robert Sandler, Chairman. "I know that he will strengthen the core insurance operations and build a solid platform for future growth. The Board and I also want to express our appreciation to Dan for his leadership over the last three years and his vision in making the investment to acquire Direct."
Mr. Benson said, "I was attracted to Direct General because I believe that its business platform has tremendous potential, it is well-positioned in the market for success, and it has a great history of innovation and performance. I'm looking forward to what we can do together to build on that success."
"Carey's core insurance operations experience will bring tremendous value to the organization and will be key to the future success of the business," said Mr. Tarantin. "I believe that this company is well-positioned for further growth and I am confident that it has the right team and strategies in place to deliver value to its investors, customers and employees."
ABOUT DIRECT GENERAL
Direct General Corporation, headquartered in Nashville, TN, is a privately owned financial services holding company whose operating subsidiaries provide personal automobile insurance, term life insurance, premium finance and other consumer products and services through our network of approximately 400 retail storefronts, our website, and our call center. We are proud to serve in the following thirteen states: Arkansas, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia.