Ronald A. Groden
As CFO for several workers’ compensation carriers during his career, Ron Groden’s entrepreneurial skills, strategic thought process and analytical ability have been successfully put to use in some of the most important areas of these businesses. His experience is particularly broad in many of the critical skills needed by property and casualty insurance carriers, including all aspects of mergers and acquisitions, finance and accounting, working with analysts and investors, and dealing with regulators and rating agencies. His expertise also includes actuarial analysis, information technology and both organizational and legal issues.
FINANCIAL STRATEGIES AND IMPLEMENTATION
In his role as Executive Vice President, CFO, Vice Chairman and co-founder of Pacific Compensation Insurance Company (PacificComp), Ron and Jim Little worked together to raise $50 million in venture capital based on a strategy to capitalize on a marketplace imbalance in California workers’ compensation. They subsequently positioned the company for its next phase by securing the acquisition of the company by a well-capitalized new owner with significant industry familiarity. As a result, the original investors nearly quadrupled their investment in less than five years. During this time, Ron also oversaw the development of an award-winning information systems platform that in addition to being highly efficient and cost effective was customer focused and easy to enhance and maintain.
Prior to PacificComp, Ron served as Executive Vice President, CFO and Director of Fremont Compensation Insurance Group where he assumed a leadership role in six major acquisitions.
His responsibilities in these processes included:
ACQUISITION EXPERTISE WITH MEASURABLE RESULTS
Each of the acquisitions referenced was unique and required:
During his time with Fremont, both through the strategic acquisitions described above and internal growth, he was instrumental in evolving this California specialty carrier in workers’ compensation into a national leader in its industry. Each acquisition was accretive to earnings in its first year, and in each case, operations were integrated within six to nine months. He further developed and implemented uniform management information reporting and budgeting across all operations and legal entities, including financial and operating information, pricing and profitability modeling, and analysis of industry and competitive data.
Ron holds a B.S. from Columbia University, an M.S. in Aeronautics & Astronautics from the Massachusetts Institute of Technology and earned his MBA at the Stanford Graduate School of Business. He served on the Board of Governors of the California Insurance Guaranty Association and belongs to the Financial Executives Institute.