#USA #Fort Worth #Structured Settlements #Independent Group #Donald Herrema

Independent Insurance Group, LLC Appoints Donald J. Herrema as Interim CEO

Independent Insurance Group, LLC has made a significant leadership transition by appointing Donald J. Herrema as its interim Chief Executive Officer. Mr. Herrema, who has an impressive background with over 35 years of experience in investment and wealth management, banking, and insurance, steps into this role following the tenure of Michael A. Upchurch, who has led the organization since its inception in 2018.

Leadership Transition and Experience

Mr. Herrema has previously held various executive roles, including that of CEO in several organizations, emphasizing his deep expertise in the financial sector. He also serves as the Vice Chair of the Board of Managers at the Independent Group and is the Chair of the Investment Committee at Independent Life Insurance Company, a subsidiary of Independent Group. Under his interim leadership, he will guide the company as it aims to build on its successful trajectory in the structured settlement field.

Achievements of Independent Life

Since its establishment in 2018, Independent Life has dedicated itself to providing innovative structured settlement solutions for plaintiffs, attorneys, and settlement professionals. The company boasts several notable accomplishments, such as:

• - Significant Financial Growth: Independent Life achieved over $400 million in funded premium for the fiscal year 2024, representing a consistent year-over-year growth.
• - Strong Asset Base: As of fiscal year 2024, the company reported total assets surpassing $1.3 billion.
• - Profitability: Independent Life recorded statutory profit for both fiscal years 2023 and 2024, reflecting a robust financial performance.
• - A Ratings: Since its formation, Independent Life has maintained an A rating from Egan-Jones and an A- rating from KBRA, signifying strong creditworthiness and operational stability.
• - Strategic Partnerships: The company has established strong reinsurance relationships with reputable firms including Hannover Re and Somerset Reinsurance Ltd., enhancing its financial foundation and risk management capabilities.
• - Court Approvals: Independent Life holds an undefeated record in court approvals for the utilization of its structured settlement annuities, further validating its credibility within the industry.

Strategic Vision Ahead

With a solid commitment from Mr. Herrema and the current executive team, along with the support from their capital providers, LKCM Headwater Investments and Kilter Finance, Independent Insurance Group is well-positioned for future growth.
Mr. Herrema’s focus will be on continuing the momentum of Independent Life’s mission to deliver innovative structured settlements significantly improving outcomes for stakeholders involved. This includes fostering relationships with plaintiff attorneys, helping injured parties, and contributing positively to the structured settlement market.

About Independent Insurance Group

Founded by seasoned insurance providers, Independent Insurance Group is committed to enhancing the structured settlement landscape. Its subsidiary, Independent Life Insurance Company, specializes in providing structured settlement annuities aimed at supporting injured victims and their advocates. The strong alliance with partners like LKCM Headwater Investments and KKR’s Kilter Finance fosters a powerful growth pathway for Independent Life. This alignment allows the company to address the critical needs of its clients effectively while securing its operational success into the future.

For more details on Independent Life’s unique offerings, visit their website at www.independent.life.