SUNRISE, Fla., June 26, 2019 (GLOBE NEWSWIRE) -- FedNat Holding Company (NASDAQ: FNHC), an insurance holding company, today announced the appointment of Mel Russell to Vice President at Monarch National Insurance Company, its wholly-owned subsidiary. Mr. Russell will lead Monarch, starting with the relaunch of its homeowner and condo programs in Florida, which represents an approximate $9 billion insurance market. His appointment is effective immediately and he will report directly to Michael H. Braun, FedNat’s President and Chief Executive Officer.
“We are elated to bring Mel on board to lead Monarch,” said Mr. Braun. “Mel has extensive underwriting knowledge with over 40 years of experience, 20 of which was in the Florida homeowners market as well as other east coast states. His industry experience and extensive agent relationships position Monarch to gain share in the robust Florida homeowners insurance market. We are excited about the opportunity to relaunch our Monarch program with significant updates and enhancements under Mel’s leadership.”
Mr. Mel Russell added, “I look forward to working closely with Mike, the operating team, and partner agents to build Monarch and make the program a strong contributor to FedNat’s future success in the marketplace.”
Since 2016, Mr. Russell has served as President and CEO of Russell Insurance Consulting in St. Petersburg, Florida. From 2013 to 2016, he served as Executive Vice President and Chief Underwriting Officer at Heritage Property and Casualty Insurance Company. He was previously a founding employee and held the titles of Chief Underwriting Officer and President of United Property and Casualty Insurance Company, where he spent 14 years. He spent his first 12 years in the New England market, initially with Fireman’s Fund and subsequently with General Accident Insurance Company, where he held several positions of increasing responsibilities. Mr. Russell currently serves on the Board of Directors of Buildfax Inc. and holds the Certified Insurance Counselor (CIC) designation.
About the Company
The Company is an insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries and contractual relationships with independent agents and general agents. The Company, through our wholly owned subsidiaries, are authorized to underwrite, and/or place homeowners multi-peril, federal flood and other lines of insurance in Florida and other states. We market, distribute and service our own and third-party insurers’ products and other services through a network of independent and general agents.
