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| SEPTEMBER 5, 2010 |
| LAST TRADED: |
$3.51 |
| CHANGE: |
+0.04 |
| OPEN: |
$3.47 |
| HIGH: |
$3.51 |
| LOW: |
$3.44 |
| VOLUME: |
4636 |
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| 52-WEEK |
| HIGH: |
$4.98 |
| LOW: |
$3.32 |
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Press Releases | Articles
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| Contact: |
Edward J. Lawson, CEO and Chairman, 21st Century Holding Company
(954) 308-1257 or (954) 581-9993 |
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21st CENTURY HOLDING COMPANY APPOINTS PETER J. PRYGELSKI AS CFO and ANTHONY C. KRAYER, III AS A DIRECTOR
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Lauderdale Lakes
,
Florida
,
June 19, 2007
21st Century Holding Company (Nasdaq: TCHC), an insurance holding company, announced today that Peter J. Prygelski has been appointed by its Board of Directors to serve as the Company’s Chief Financial Officer (“CFO”) and that Anthony C. Krayer, III has been appointed to its Board of Directors.
Mr. Prygelski has most recently served on the Company’s Board of Directors, as well as Chairman of its Audit Committee. He will assume his new duties as CFO effective June 25, 2007 and has tendered his resignation from the Company’s Board of Directors, Audit Committee, Investment Committee and Independent Directors Committee to be effective as of June 25, 2007. J. Gordon Jennings III, the Company's former CFO, will serve as the Company’s Chief Accounting Officer and will report to Mr. Prygelski.
Mr. Prygelski joins 21st Century Holding Company from Deloitte and Touche, where he served as a Senior Manager in the Enterprise Risk Services practice. Prior to joining Deloitte and Touche, Mr. Prygelski served in a similar capacity with Ernst & Young. Previously, Mr. Prygelski was a Director of Audit for American Express Centurion Bank (a subsidiary of American Express), where he began his career in Corporate Finance and was a key member of their Enterprise Risk and Assurance function.
Mr. Prygelski was born in Brooklyn, New York and raised in Fort Lauderdale, Florida. He is a graduate of Stetson University, where he earned a bachelor of Business Administration degree with a concentration in Finance. He and his family currently reside in Broward County.
The Board and Mr. Edward J. Lawson, the Company’s CEO and Chairman, recognized Mr. Prygelski's contributions as Chairman of its Audit Committee and believe that Mr. Prygelski will be a valuable addition to the Company's senior management team. Mr. Prygelski’s responsibilities will include accounting, finance, risk management and internal controls.
Mr. Krayer will be filling the vacancy on the Board of Directors left by Mr. Prygelski’s resignation. His service as a Director will begin on June 25, 2007 and will extend through the annual meeting of shareholders in 2009. In addition to being appointed to the Board of Directors, Mr. Krayer has been appointed to serve on the Company’s Audit Committee, Investment Committee and Independent Director’s Committee. The Company believes that Mr. Krayer meets the qualifications of being “independent” as defined by Nasdaq Global Market, as well as the qualifications of an “audit committee financial expert” as defined by the Securities and Exchange Commission.
Mr. Krayer has served as the Executive Vice-President and Chief Administrative Officer of the South Broward Hospital District since 1997. Prior to 1997, Mr. Krayer held the titles of Senior Vice-President (OrNda of South Florida 1993-1994), Senior Vice-President - Acquisitions and Development (OrNda Healthcorp 1994-1997) and President (OrNda of South Florida 1996-1997). Additionally, Mr. Krayer has served as the Chief Operating Officer/Chief Financial Officer of Florida Medical Center (1989-1993) and as a partner of Ernst and Whinney (1968-1989).
Mr. Krayer has served on several boards of directors throughout his career. He currently serves on the Board of Directors and Audit Committee of Coconut Grover Bankshares, Inc., a privately held bank holding company, and Coconut Grove Bank (its subsidiary). He was their Audit Committee Chairman from 2002-2005.
About the Company
The Company, through its subsidiaries, underwrites standard and non-standard personal automobile insurance, flood insurance, general liability insurance, mobile home insurance and homeowners’ property and casualty insurance in the State of Florida. The Company underwrites general liability coverage as an admitted carrier in the States of Louisiana, Texas and Alabama for more than 300 classes of business, including special events, as well as homeowners’ coverage in the State of Louisiana. The Company also operates as an approved (non-admitted) carrier in the States of Georgia and Kentucky offering the same general liability products. In addition, the Company has underwriting authority and processes claims for third party insurance companies. In addition to insurance services, the Company offers premium finance services to its insureds as well as insureds of certain third party insurance companies.
Safe harbor statements under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not historical fact are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” or “continue” or the other negative variations thereof or comparable terminology are intended to identify forward-looking statements. The risks and uncertainties include, without limitation, uncertainties related to estimates, assumptions and projections generally; inflation and other changes in economic conditions (including changes in interest rates and financial markets); pricing competition and other initiatives by competitors; ability to obtain regulatory approval for applications to underwrite in an additional jurisdiction or for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against the Company and any settlement thereof; risks related to the nature of the Company’s business; dependence on investment income and the composition of the Company’s investment portfolio; the adequacy of the Company’s liability for loss and loss adjustment expense; insurance agents; claims experience; limited experience in the insurance industry; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes and hail); changes in driving patterns and loss trends; acts of war and terrorist activities; court decisions and trends in litigation, and health care and auto repair costs; and other matters described from time to time by the Company in releases and publications, and in periodic reports and other documents filed with the United States Securities and Exchange Commission. In addition, investors should be aware that generally accepted accounting principles prescribe when a company may reserve for particular risks, including litigation exposures. Accordingly, results for a given reporting period could be significantly affected if and when a reserve is established for a major contingency. Reported results may therefore appear to be volatile in certain accounting periods.
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