– USA, FL – 1347 Property Insurance Holdings, Inc. (NASDAQ:PIH), announced today that it has appointed Joshua S. Horowitz to the Company’s Board of Directors. Mr. Horowitz will serve as an independent director. Separately, Mr. Hassan R. Baqar, will not be standing for re-election to the Company’s Board of Directors in the coming term.
Gordon G. Pratt, Chairman of the Board, said, “We welcome Josh to the Company’s Board of Directors. His broad knowledge of the capital markets and experience in asset management will play a large role in his contribution to the Board. Josh’s ability to evaluate and analyze value oriented opportunities, which he has done for many years, will make a great addition. We also want to thank Hassan for his support and service to our Board. We all benefitted from his counsel and expertise during the formation of PIH.”
Since January 2012, Mr. Horowitz has served as a managing director of Palm Ventures LLC, a private investment firm, where he focuses on investments in the public markets and helps oversee the Palm Global Small Cap Master Fund. Previously, Mr. Horowitz served as Director of Research of Inverlochy Capital, a value focused asset management firm that offers accounts to private and institutional clients. Prior to Inverlochy, he served as managing director of Sapinda GmbH, a private investment holding company, and Director of Research for Berggruen Holdings, a family office with over $2 billion in assets under management globally. In these positions, Mr. Horowitz analyzed and managed investments in a number of public and private companies, with a strong emphasis on insurance and financial firms. Since July 2014, Mr. Horowitz has served as a director of 1347 Capital Corporation (NASDAQ: TFSC).
Mr. Horowitz obtained a Bachelor of Science degree in Management from Binghamton University and also studied at the School of Management at the University of Bath in the UK. In March 2015, Mr. Horowitz successfully completed the Business of Insurance Certificate Program at St. John’s University.
Mr. Horowitz stated, “I am looking forward to joining the Board of PIH, a Company that I feel has a number of potential avenues for growth. The most successful companies that I have studied and invested in are those that can modulate that growth with a keen focus on value creation per share. PIH has the right team and balance sheet in place to execute its plan. I look forward to working with the management team to build shareholder value as the Company continues to expand its geographic presence in additional coastal markets.”
About 1347 Property Insurance Holdings, Inc.
1347 Property Insurance Holdings, Inc. is a property and casualty insurance holding company incorporated in Delaware. In December 2012, the Company began providing property and casualty insurance to individuals in Louisiana through its wholly-owned subsidiary, Maison Insurance Company. The Company’s insurance offerings currently include homeowners’ insurance, manufactured home insurance and dwelling fire insurance.
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