Enterprise Holdings Limited
Enterprise Holdings Limited: Andrew Richard Stone appointed as Chief Operating Officer – Specialist in Governance, Compliance and Risk Management
DGAP-News: Enterprise Holdings Limited / Key word(s): Change of Personnel 02.04.2014 / 09:30 --------------------------------------------------------------------- Due to the upcoming new requirement based on Solvency II regulations combined with strong growth in its business, the niche insurance company Enterprise Insurance Company Plc appointed Andrew Richard Stone as a new member of the Managing Board. He will take over responsibility for the operational business as Chief Operating Officer (COO). He completes the management team that currently exists of Andrew John Flowers, Chief Executive Officer (CEO) and founder of the company, Keith Newing, Chief Financial Officer (CFO) and Peter Longstaff (Underwriting Director). Andrew Stone who started his carrer in the insurance business in 1979 is a general insurance professional with broad based skills and experience gained over thirty years with the last eight years specialising in compliance, governance and risk management. Prior to joining Enterprise Stone already supported Enterprise Holdings' business as an external consultant to help develop robust corporate governance and risk management frameworks capable of sustaining a dynamic business plan and implementing Solvency II Pillar II requirements ahead of statutory deadlines. Andrew John Flowers, CEO of Enterprise Holdings: "Andrew Stone has served as a board director on the board of several insurance companies as their compliance and risk expert and he brings massive expertise and knowledge into the management team to help us to continue our growth strategy. We managed a year on year high double digit growth within the last 5 years and achieved gross written premium (GWP) of more than 160m euro in fiscal year 2012/2013. In the fiscal year that ended 31 March 2014 we again expect a double digit growth in GWP combined with a decent net profit. We implemented the new requirements under Solvency II ahead of statutory deadlines. This has been subject to external review by reinsurers and intensive scrutiny during the audit of the Credit Rating done by Creditreform in August and had a positive impact on the rating result: we again achieved an A- rating which makes us an outstanding bond issuer in the German Mittelstand bonds segment having such a good rating (read Sphene Capital analyst report)." End of corporate news Enterprise Holdings Ltd. Group - an owner-lead insurance firm Lead by its founder the company holds several other subsidiaries together with affiliated service companies. The Group offers independent white label general insurance solutions, apart from life insurance products. The affiliated companies deliver insurance specific auditing services as well as administrative and marketing services. The Group focuses its activities on high-yield niches within the European general insurance market. The main category of the offered insurances is in the field of automobile damage and third party insurance, legal costs insurance, household contents insurance and guarantees. Main markets are currently the United Kingdom, France, Greece and Italy. Bond Investor Relations / Press Please direct all your requests to: max. Equity Marketing GmbH Maximilian Fischer Marienplatz 2 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@enterprise-holdings.de IMPORTANT NOTE - Disclaimer Prospective investors of the Securities should recognise that the Securities constitute a risk investment, which can lead to a total loss of their investment in the Securities. Potential investors must therefore be prepared and able to sustain a partial or even a total loss of the invested capital. Any investors interested in purchasing the Securities should assess their financial situation, to ensure that they are in a position to bear the risks of loss connected with the Securities. Therefore, please contact your credit and securities institutions. The admissibility of the acquisition of a security may at various conditions, especially your nationality be bound. Please inform yourself before an investment. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Enterprise Holdings Limited ("issuer"). A decision on an investment in the securities of the issuer may only be made on the basis of the securities prospectus ("prospectus") which is approved by the Federal Financial Supervisory Authority (BaFin) and is published on the website www.enterprise-holdings.de. Only the information contained in the prospectus is binding in connection with the offer. This information may not be disseminated outside of Germany and Austria, in particular not in the United States, to US Persons according to regulation S of the US Securities Act of 1933 or to publications with a general circulation in the United States. Any person who fails to comply with these restrictions may violate the security laws of certain jurisdictions, in particular of the United States. Bonds in Enterprise Holdings Limited are not publicly offered outside of Germany and Austria. The Notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the Notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The securities mentioned in this press release are not being and will not be offered for sale to the public in the United States, Australia, Canada and Japan. End of Corporate News --------------------------------------------------------------------- 02.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 261025 02.04.2014
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