Penn-America Group Appoints Two Executives

Penn-America Group, Inc. has appointed Joe Morris, CPA, as senior vice president and chief financial officer and Jim Mack, CPA, as vice president and treasurer of the company. Chief Financial Officer Rosemary Ferrero, who joined the company in 1994, has resigned effective September 30, 2000 to pursue other opportunities.

Morris, 45, joins Penn-America following a 21-year career with Reliance Insurance Company where he served in several high level management and financial positions for that company’s commercial and specialty insurance businesses. Most recently, he held the position of Northeast regional vice president of Commercial Accounts. Prior to that, Morris was president of the Specialty Programs Division; and vice president and controller both of the Specialty Programs Division and Reliance Insurance Company.

Prior to Reliance, he was a senior auditor with Touche Ross & Co. Morris reports to Jon S. Saltzman, president and CEO, and will be responsible for all financial management and reporting activities for the publicly traded commercial and specialty insurance holding company and its two insurance subsidiaries.Morris, a resident of Fort Washington PA, holds a B.S. degree in Accounting from The Pennsylvania State University and an M.B.A. degree in financial management from Drexel University.

Mack, 37, joins the company after a 12-year career as a manager with the professional services firm, Ernst & Young.

He was responsible for staffing and resources for the firm’s Philadelphia insurance practice, which provides consulting and other services to privately held and publicly traded life, property, casualty and managed care insurers in the Central and Southeastern Pennsylvania areas. Prior to Ernst & Young, he was an internal auditor for Consolidated Rail Corporation. As Penn-America’s treasurer, Mack will report to Morris.