Republic Companies, Inc. Announces Resignation of President/CEO

DALLAS, Feb. 28, 2012 /PRNewswire/ -- Republic Companies, Inc.'s Board of Directors today announced that Parker W. Rush has decided to resign as Chief Executive Officer and President of Republic effective March 11, 2012, and the parties have mutually agreed upon a smooth and orderly transition to a new CEO and President.

Mr. Rush commented, "This has been a very difficult decision for me to make as I am very proud of what Republic, its employees and agents have accomplished.  Republic now has a solid foundation with a talented management team and is poised to continue its success as the dominate regional carrier in the Southwest.  I look forward to exploring new opportunities over the next few months."

Danny Guttman, the U.S. representative for Delek Group Ltd., the ultimate parent company of Republic, said "On behalf of Delek, we thank Parker for his many contributions to Republic over the past 8 years.  We wish him nothing but the best in his pursuits."

About Republic

Republic Companies, Inc. provides personal and commercial property and casualty insurance products through a group of insurance companies and related entities designated in the industry as "The Republic Group."  In its Independent Agents segments, Republic distributes these products to individuals and small to medium-size businesses through a network of independent agents primarily in Texas, Louisiana, Oklahoma, New Mexico, Mississippi and Arkansas.  In its Program Management and Insurance Services segments, Republic capitalizes on its unique combination of charters and licenses to develop and manage target-niche insurance products that are distributed through managing general agents and other producers in many additional states.  Visit www.RepublicGroup.com for more information.

SOURCE The Republic Group