Gregory C. Branch
About Gregory C. Branch
Gregory C. Branch, age 77, is Chairman Emeritus and a Class A director of American Coastal Insurance Corporation (ACIC), serving on the Board since 2008. He previously served as Chairman of the Board from September 2008 to June 2020 and as Chairman and CEO of ACIC’s predecessor, United Insurance Holdings, L.C. (UIH), from 1999 to 2008. Branch holds a B.S. in Agricultural Economics from the University of Florida and served as a Captain in the U.S. Army; he has extensive insurance and entrepreneurial experience, including ownership of Branch Properties, Inc. since 1986 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ACIC (Board) | Chairman of the Board | Sep 2008–Jun 2020 | Led board during transition; elevated to Chairman Emeritus in Jul 2020 |
| ACIC (Board) | Chairman Emeritus | Jul 2020–present | Advisory leadership; receives Chairman Emeritus retainer |
| United Insurance Holdings, L.C. (UIH) | Chairman & CEO | 1999–2008 | Led predecessor company prior to ACIC structure |
| Summit Holding Southeast, Inc. | Chairman | 1994–1998 | Oversaw Nasdaq-listed insurer through IPO (1997) and sale to Liberty Mutual (1998) |
| Lloyd’s of London | Underwriting Member | 1986–2004 | Deep insurance market underwriting expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Branch Properties, Inc. | Chairman, President & Owner | 1986–present | Manufacturer/distributor of equine feed |
| Prime Holdings, Inc. | Director | 2001–present | Insurance-related board role |
| Raffles Insurance Company | Director | 2003–present | Insurance-related board role |
| Sunz Insurance Holding | Founding Chairman | Pre-2008 | Workers’ comp insurer; sold in 2008 |
| American Feed Industry Insurance Company RRG | Founding member; former Chairman; Director | Ongoing | Risk retention group; interlock with ACIC Lead Director Alec L. Poitevint (Chair since 2002) |
Board Governance
- Independence: Listed as an independent director under Nasdaq standards; currently not assigned to Audit, Compensation & Benefits, Nominating & Corporate Governance, or Investment Committees .
- Attendance: Board met five times in 2024; each director attended all Board and committee meetings for which they served (100% attendance for Branch) .
- Leadership Structure: Executive Chairman (R. Daniel Peed); Lead Director (Alec L. Poitevint II) leads executive sessions of independent directors .
- Tenure: Director since 2008; current Class A term expires at the 2025 Annual Meeting; nominated for re-election to serve until the 2027 annual meeting .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual Director Retainer (cash) | $75,000 | Standard non-employee director cash retainer |
| Chairman Emeritus Retainer (cash) | $50,000 | Additional retainer for Chairman Emeritus role |
| Total Cash Fees (2024) | $125,000 | As disclosed in Director Compensation table |
Performance Compensation
| Equity Type | Grant Date | Shares | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Restricted Stock | May 14, 2024 | 5,000 | $61,150 | Vests on the date of the Annual Meeting (May 19, 2025) |
- ACIC’s director equity for Branch consists of time-based restricted stock; no director-level performance metrics (e.g., EPS/TSR) are tied to director grants. The program for directors in 2024 provided 5,000 restricted shares per director, vesting at the Annual Meeting .
Other Directorships & Interlocks
| Entity | ACIC Director(s) | Role(s) | Interlock/Conflict Consideration |
|---|---|---|---|
| American Feed Industry Insurance Company RRG | Gregory C. Branch; Alec L. Poitevint II | Branch: Director; Poitevint: Chairman since 2002 | Board interlock across the same outside insurer; no related-party transactions with ACIC disclosed |
Expertise & Qualifications
- Insurance: Leadership of UIH and Summit Holding Southeast; Lloyd’s underwriting background .
- Entrepreneurship & Operations: Owner/operator of Branch Properties, Inc. in feed manufacturing/distribution .
- Governance: Long-standing board service at multiple insurance entities and risk retention groups .
- Education & Service: B.S. in Agricultural Economics (UF); U.S. Army Captain .
Equity Ownership
| Holder | Total Beneficial Ownership | % of Outstanding | Composition / Notes |
|---|---|---|---|
| Gregory C. Branch | 2,292,099 shares | 4.7% | 1,719,197 direct; 123,710 via LLC; 407,392 via trusts; 41,800 via foundation; Branch has voting power over trusts/foundation |
| Director Stock Ownership Guidelines | — | — | Non-Employee Board members must hold 4× annual cash retainer; pledged securities do not count toward compliance |
| Anti-Hedging Policy | — | — | Directors prohibited from hedging ACIC securities |
- No pledge of ACIC shares by Branch is disclosed in the proxy; beneficial ownership footnotes detail vehicle-level holdings and voting control without mention of pledging .
Governance Assessment
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Strengths
- Independent status and 100% 2024 attendance indicate engagement and board effectiveness .
- Significant “skin in the game” with 2.29M shares (4.7%), aligning interests with shareholders .
- Clear compensation structure for directors with modest cash retainers and annual time-based equity; no director performance metrics that could bias oversight .
- Robust governance policies: related-party transaction policy, anti-hedging, and clawback (for Section 16 officers) .
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Risks and potential red flags
- UPC receivership: All ACIC directors (including Branch) served on the subsidiary UPC board prior to receivership (Feb 27, 2023) tied to Hurricane Ian losses—this legacy oversight exposure may weigh on investor confidence in catastrophe governance .
- Board diversity: ACIC acknowledges the Board composition does not fully reflect desired diversity, potentially limiting perspective breadth .
- External interlock: Shared outside board at American Feed Industry Insurance Company RRG with Lead Director Poitevint concentrates external network influence. No ACIC related-party transactions with that entity are disclosed, but monitoring for conflicts is prudent. RED FLAG when interlocks coincide with compensation or transaction decisions (none disclosed) .
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Shareholder feedback
- Say-on-pay support ~98% at 2022 Annual Meeting; next advisory votes (including frequency) scheduled for 2025 (Board recommends triennial), reflecting investor tolerance of ACIC pay practices. Not director-specific, but signals overall governance acceptance .
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Compliance and disclosures
- No delinquent Section 16(a) filings reported for Branch in 2024, supporting timely disclosure practices .
Overall, Branch brings deep insurance and underwriting expertise with long tenure and meaningful ownership alignment. Watch for legacy risk oversight perception from UPC’s receivership and the external interlock with AFIIC RRG; neither is tied to disclosed related-party transactions, but they are governance points to monitor .