Normal Indemnity Group proclaims financials, new CFO

Boston Omaha Company subsidiary Normal Indemnity Group (GIG) has reported sturdy full-year earnings whereas introducing its new chief monetary officer.

In 2023, GIG’s revenues climbed 32% to $17.7 million, whereas its revenue from operations and web revenue amounted to $1.52 million and $2.06 million, respectively.

Commenting on the numbers, GIG president Dave Herman mentioned: “We’re extraordinarily happy with our monetary efficiency in 2023.

“We’ve centered our efforts on investing in strategic acquisitions, enhancing operations, including seasoned workers, and driving expertise all through all of our operations. Collectively, we’ve been capable of engineer outstanding progress from the early days of the enterprise.”

Consisting of working models United Casualty and Surety Insurance coverage Firm, South Coast Surety Insurance coverage Providers, and SuretyBonds.market, GIG made its first acquisition in 2016. 

GIG’s new finance chief

Other than its 2023 efficiency, GIG additionally revealed the arrival of chief monetary officer Kyle Fowler (pictured). The brand new CFO got here on board final December, making the change from Unified Life Insurance coverage Firm.

“I’m very glad to affix GIG,” commented Fowler, who has been in insurance coverage for practically a decade. “Our place within the business of being a full-service supplier of surety bond merchandise makes us distinctive and presents large alternative for progress.”

Herman, in the meantime, had this to say: “We’re extremely happy to welcome Kyle aboard as one other instance of enhancing our government expertise. He brings appreciable expertise within the insurance coverage business to GIG and has constructed a robust profession within the monetary administration occupation.

“We welcome his experience and expertise to the corporate that undoubtedly will help our efforts to develop into the main surety bond supplier within the business.”

Earlier than his tenure at Unified the place he was controller, Fowler served in accounting positions at Swiss Re and Cochran Head Vick & Co Licensed Public Accountants.

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