HOUSTON – September 7, 2017
Houston International Insurance Group (HIIG) announced today that Michael Schmidt, Senior Vice President of HIIG Specialty, has retired and will leave the Company immediately.
Mr. Schmidt is founder and former owner of Capital Risk Underwriters, Inc. (CRU), a managing general underwriter based in Orlando, Florida. CRU, specializing in pest control business, was purchased by HIIG in 2015 and is now part of HIIG Specialty.
Stephen L. Way, Chairman and CEO of HIIG, said, “Michael Schmidt is an ‘Old School’ insurance entrepreneur who worked hard for everything he made. He has earned his retirement and leaves us his legacy, which we intend to grow.”
HIIG is an insurance holding company based in Houston, Texas with total assets of more than $1 billion and shareholders’ equity of more than $330 million.
HIIG has underwriting Divisions focused on Accident & Health; Construction; Energy; Professional Liability; Transactional Property; Transportation; and other Specialty business, producing more than $525 million in gross premiums in 2016.
HIIG’s insurance company subsidiaries consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A/A- (Excellent) by A.M. Best
L. Byron Way, EVP & COO
Houston International Insurance Group