Direct General Appoints Robert M. Sandler to Board of Directors

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Direct General Corporation, a privately owned financial services holding company whose operating subsidiaries provide personal automobile insurance, announced today Robert M. Sandler, 68, has been appointed as non-executive chairman to Direct General’s board of directors. Mr. Sandler is a 45 year veteran of the insurance and financial services industry (Met Life 5 years; AIG 40 years). He retired from American International Group, Inc. (AIG), in 2008, where he most recently served as Executive Vice President, Domestic Personal Lines. Direct General is owned by private equity firms Calera Capital, TPG Capital and management.

"We are very pleased to welcome Bob as the newest member of our board,” said Dan Tarantin, Chief Executive Officer, Direct General. "His extensive experience, expertise and thought leadership in the insurance industry will be invaluable to our board and our management team as we continue to strengthen our insurance operations, products and channels. We look forward to our partnership with Bob as we work diligently to enhance Direct General’s value and realize the Company’s full growth potential.”

"I’ve spent my entire career helping to build and grow high quality profitable businesses that outperform their market competitors. Direct General is no exception,” said Bob Sandler. “Dan and his team have made great strides over the last three years and I look forward to working with the rest of the board and the Direct General management team, to build upon the Company’s successes.”

Mr. Sandler’s distinguished career with AIG began in 1968 where he served in several key roles. He held various actuarial positions in the foreign and domestic property-casualty operations before being named Vice President and Casualty Actuary in 1980. In 1984, he was elected Senior Vice President, Senior Casualty Actuary and Senior Claims Officer and, in 1990, he assumed responsibility for developing AIG's domestic personal lines operations. Mr. Sandler served as Chairman of American International Underwriters, AIG's foreign property-casualty insurance organization, from 1994-2002. In 1995, he was elected Executive Vice President of AIG, and in 1999 was named Chairman of the 21st Century Insurance Group Board of Directors.

About Direct General

Direct General Corporation, headquartered in Nashville, TN, is a privately held financial services holding company whose operating subsidiaries provide non-standard auto insurance, selling directly to consumers via 400 storefronts, a call center and the web (www.directgeneral.com) in 13 southeastern states. In addition to auto insurance, the company sells other financial products and services including life insurance, premium finance, roadside assistance, emergency protection and pre-paid debit cards.

About Calera Capital

Founded in 1991, Calera Capital, formerly known as Fremont Partners, is a private investment firm which has approximately $2.8 billion of capital under management. With offices in San Francisco and Boston, Calera invests across a diverse range of industries including financial services, business services, food and consumer, healthcare, building products, and industrial manufacturing. Calera Capital makes substantial equity investments in operating companies, typically with enterprise values up to $1 billion, and seeks to build long-term sustainable value by working with management teams to implement strategic and operating initiatives.

About TPG Capital

TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with more than $35 billion of assets under management and offices in San Francisco, London, Hong Kong, New York, Minneapolis, Fort Worth, Melbourne, Menlo Park, Moscow, Mumbai, Beijing, Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, joint ventures and restructurings. TPG Capital's investments span a variety of industries including technology, financial services, retail/consumer, media and communications, travel, healthcare and industrials. Please visit www.tpg.com.

Cramer-Krasselt
Mark LoCastro, +1-212-251-1246
[email protected]

Source: Direct General Corporation