American Coastal names new CFO among other leadership changes

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American Coastal Insurance Corporation, a property and casualty insurance holding company, has announced changes to its executive leadership team, including the appointment of Svetlana Castle as new Chief Financial Officer (CFO).

Castle will take over her new role from January 22, 2024, and will be joining the company as a member of ACIC’s executive team reporting directly to ACIC President, B. Bradford Martz.

“We believe that the current timing presents an opportune moment to introduce innovative perspectives to our operations. We believe Ms. Castle’s experience and leadership experience compliments our team well. Her deep understanding and expertise will play a pivotal role to serve our organisation and help build shareholder value overtime,” said Martz.

As CFO, Castle will be responsible for the finance, accounting, and tax operations for ACIC. She has 15 years of experience in the insurance industry, in addition to vast experience across shared services operations, enterprise risk management, financial reporting and forecasting, and auditing.

Martz will step down from his role of Chief Financial Officer to focus on his position as President of the company and will shift his responsibilities to strategic initiatives and investor relations.

American Coastal has also promoted J. Andy Gray, CPA, to the newly created position of Chief Compliance and Risk Officer.

Gray brings to his new role extensive experience in tax, accounting, and internal audit, having joined American Coastal in 2017, after the company’s merger with American Coastal Insurance Company, and has held various roles within the organisation.

He will report directly to Martz with certain compliance deliverables and continue to report risk management responsibilities to the Audit Committee.

“Mr. Gray’s deep experience and vigilance is a great fit for this role, which will bring increased accountability and oversight to our operations. Compliance and risk management are non-negotiable and critical components for our business,” Martz commented.

Gray most recently served as Vice President, Enterprise Risk Management, where he oversaw Internal Audit and reported directly to the Company’s Audit Committee.

Prior to joining American Coastal, he served as a Partner with Thomas Howell Ferguson, a regional accounting firm, from 1993 until 2015, specialising in insurance.

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