SOUTHFIELD, Mich., Oct. 21, 2013 /PRNewswire/ -- Meadowbrook Insurance Group, Inc. (MIG) ("Meadowbrook" or the "Company") today announced the passing of Mr. Hugh W. Greenberg, a member of its Board of Directors since 1985. Mr. Greenberg served in various positions on the Company's board, including Chairman of the Governance & Nominating Committee and a member of the Compensation Committee.
Mr. Greenberg obtained his undergraduate degree in economics from the University of Michigan in 1951. After working in the automotive supply business, Mr. Greenberg formed Detroit Gage & Tool Company, where he served as President and Chief Executive Officer from 1961 to 2002. Mr. Greenberg also served as Chairman of Data Net Quality Systems, a developer of software systems for manufacturing. In addition, Mr. Greenberg has served on several boards of directors for several Michigan foundations and other non-profit organizations.
David K. Page, Chairman of the Board of Directors of Meadowbrook commented, "We are deeply saddened at the passing of Hugh Greenberg. He has been a trusted advisor and resource to the Board and was a good friend to all of us. For over twenty years, Hugh has given us the benefit of his considerable business, management, accounting, investment and information technology experience."
Robert S. Cubbin, President and Chief Executive Officer, commented, "Hugh was a great mentor and advisor to me since I arrived at the Company and I will miss him and his leadership a great deal."
About Meadowbrook Insurance Group
Meadowbrook Insurance Group, Inc., based in Southfield, Michigan, is a leader in the specialty program management market. Meadowbrook includes several agencies, claims and loss prevention facilities, self-insured management organizations and six property and casualty insurance underwriting companies. Meadowbrook has twenty-eight locations in the United States. Meadowbrook is a risk management organization, specializing in specialty risk management solutions for agents, professional and trade associations, and small to medium-sized insureds. Meadowbrook Insurance Group, Inc. common shares are listed on the New York Stock Exchange under the symbol "MIG". For further information, please visit Meadowbrook's corporate web site at http://www.meadowbrook.com.
Certain statements made by Meadowbrook Insurance Group, Inc. in this release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Words such as "will," "expects," "believe," "anticipates," "would," "may be" and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ materially from those anticipated in these forward-looking statements. These factors and risks include, but are not limited to, a failure of additional capital to be available or only available on unfavorable terms; our geographic concentration and the business, economic, natural perils, man made perils, and regulatory conditions within our most concentrated region; goodwill impairment risk employed as part of our growth strategy and the anticipated impact of the goodwill impairment charge recognized in the second quarter of 2013; efforts with regard to the review of strategic alternatives; actions taken by regulators, rating agencies or lenders, including the impact of the downgrade by A.M. Best of the Company's and its insurance company subsidiaries' financial strength rating, any negative impact from the previously disclosed class action litigation or any similar litigation which may be filed in the future and operational and legal risks and uncertainties detailed from time to time in the Company's cautionary statements contained in its filings with the Securities and Exchange Commission. The Company does not intend, and undertakes no duty to, release publicly any updates or revisions to any forward-looking statements contained herein.
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