UNIVERSAL AMERICAN FINANCIAL CORP. NAMES GARY W. BRYANT CHIEF OPERATING OFFICER   6/14/00

RYE BROOK, N.Y.--(BUSINESS WIRE)--June 14, 2000--Universal American Financial Corp. (NASDAQ National Market:UHCO) (``Universal'') today announced the appointment of Gary W. Bryant, CPA as Chief Operating Officer of the Company, a newly created position.


Mr. Bryant, 50, brings more than 20 years of insurance industry experience to his new position. He was appointed Senior Vice President of the Company in 1995. Mr. Bryant also currently serves in senior level executive positions at Universal's insurance subsidiaries, including: President and Chief Executive Officer of American Pioneer Life Insurance Company in Orlando, FL (since 1984), American Exchange Life Insurance Company, Constitution Life Insurance Company, Marquette National Life Insurance Company, Peninsular Life Insurance Company and Union Bankers Insurance Company. Mr. Bryant also serves as Vice Chairman of American Progressive Life and Health Insurance Company in New York and of Peninsular Life Insurance Company.

Richard Barasch, Chairman and Chief Executive Officer of Universal, commented, ``For the past 9 years I have witnessed, first hand, Gary's impressive combination of managerial, financial and industry skills as he has helped guide Universal's subsidiaries into industry leaders in the markets they serve. The acquisition and ongoing integration of the PennCorp companies, as well as the continued strong internal growth of our senior market brokerage division, makes this an exciting time for Universal. Gary is uniquely qualified for his new role and he shares the vision of everyone at Universal. We look forward to the future and what we can accomplish together with his leadership.''

Universal American Financial Corp. offers life and supplemental health insurance for senior citizens and customized insurance programs for market niches.

Except for the historical information contained above, this document may contain some forward looking statements, including statements related to 2000 operating results, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risk factors are listed from time to time in the Company's SEC reports.


Contact:
Universal American Financial Corp., Rye Brook
Robert A. Waegelein
Senior Vice President & Chief Financial Officer
(914) 934-8820


 

 

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