Orchid Underwriters Appoints Lynda Butler As CFO
Vero Beach, FL, May 19, 2015 — Orchid Underwriters Insurance Agency, LLC (“Orchid”), a leading specialty underwriter of property insurance focusing on coastal properties, announced today that it has named Lynda Butler as Chief Financial Officer. She will also become a member of the Executive Management Committee at Orchid, along with Chairman Ken LeStrange, President Brad Emmons, CIO Chuck Fillizola, and Executive Vice President Tim Byrne.
As CFO, Ms. Butler will be responsible for all accounting and financial functions within Orchid, and will be a key interface with the company’s majority owner, Gryphon Investors. As a member of the Executive Management Committee, she will help lead Orchid’s organic and acquisition growth strategy. “We are pleased to have Lynda join our team,” said Mr. LeStrange. “She brings to Orchid great experience and a proven track record of success in challenging financial roles. Her background in acquiring and integrating companies will enhance our ability to achieve our strategic vision.”
Ms. Butler comes to Orchid from Nationwide Insurance, where she has worked since 1993, most recently as Chief Financial Officer/Vice President – Nationwide Insurance Brand Property and Casualty Division. Prior to that, she was Chief Financial Officer at Allied Insurance, and earlier, she served as Chief Financial Officer at Farmland Insurance. Ms. Butler began her career at KPMG in Audit Services. She holds a B.S. from the University of Dayton. Ms. Butler is a Certified Public Accountant in Ohio and a member of the American Institute of Certified Public Accountants and the Ohio Society of Certified Public Accountants. She is a Board Member and Treasurer of Easter Seals of Central Ohio, a past Board member of the Court Appointed Special Advocates of Franklin County, and a member of the United Way of Delaware County Woman’s Leadership Network.
“I’m very excited to join Orchid. I look forward to working with Ken, Brad, Chuck, and Tim to ensure that Orchid maintains a disciplined approach to financial performance while continuing to deliver best-in-class products and services,” Ms. Butler said.
In November 2014, private equity firm Gryphon Investors made a majority investment in the company.
About Orchid Underwriters
Founded in 1998 and based in Vero Beach, FL, Orchid Underwriters specializes in providing specialty insurance products for homeowners and other difficult-to-insure properties throughout the United States and the Caribbean. The Company’s comprehensive product offering provides customers with a “one-stop-shop” for homeowners and condominium property insurance, including umbrella policies, wind and wind only, general and excess flood, earthquake, builder’s risk and others. Orchid only represents well-known A.M. Best A-rated insurance carriers and is a market leader with over $16 billion of insurance in-force.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity (“PE”) firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. For numerous consecutive quarters and years, Gryphon has been ranked in Preqin’s prestigious quarterly PE report as one of North America’s top-decile firms based on consistency of strong investment returns. With approximately $1.5 billion of cumulative equity commitments, the firm has an extensive track record of leading equity investments of $25 to $150 million per portfolio company with sales ranging from approximately $50 to $500 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources and operational expertise.
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