PE-backed Propel Insurance taps Fusaro as CFO

Propel Insurance, which is backed by Flexpoint Ford, has named Angelo Fusaro as chief financial officer.

Propel Insurance, which is backed by Flexpoint Ford, has named Angelo Fusaro as chief financial officer. Fusaro will be joining Propel from HUB International, a global insurance broker, where he served for 14 years across various senior finance leadership roles. Propel Insurance is a privately-owned insurance agency.

PRESS RELEASE

TACOMA, Wash., Jan. 25, 2021 /PRNewswire/ — Propel Insurance (the “Company”), one of the nation’s largest privately-owned insurance agencies and a portfolio company of Flexpoint Ford, today announced that Angelo Fusaro has joined the Company as Chief Financial Officer. Mr. Fusaro succeeds longtime Propel executive Pete Hendrick, who has announced his retirement after serving as Chief Financial Officer since 2004.

“We are grateful to Pete for 16 years of dedicated service, creative skillset and his endless enthusiasm which helped us to build Propel Insurance from $25 million of revenue to over $120 million today,” said Kurt Carlson, Chief Executive Officer for Propel. “We are excited to welcome Angelo to Propel and look forward to his contributions in helping us to continue to execute on the Company’s organic and acquisitive growth strategies.”

Mr. Fusaro comes to Propel with over 20 years of experience in financial and operational management. Mr. Fusaro will be joining Propel from HUB International, a global insurance broker, where he served for 14 years across various senior finance leadership roles. Prior to his career at HUB International, Mr. Fusaro held positions at Perdoceo Education Corporation (formerly Career Education Corporation) and Ernst & Young.

“I am thrilled to be joining the Propel family and admire the tremendous job the team has done to position Propel as a growth-oriented insurance agency,” said Fusaro. “Propel’s culture is rare in the industry, and I look forward to accelerating Propel’s continued expansion through both strategic hires and acquisitions.”

Mr. Fusaro holds a Bachelor of Business Administration in accounting from the University of Rhode Island.

About Propel Insurance
Propel Insurance is one of the nation’s largest privately-owned insurance agencies and provides a broad array of property, casualty, risk management, workers’ comp, employee benefits, personal insurance and other products across North America. Propel is dedicated to helping businesses and individuals manage their insurance needs and find their momentum. For more information, visit www.propelinsurance.com.

About Flexpoint Ford, LLC
Flexpoint Ford is a private equity investment firm that has raised more than $4.3 billion in capital and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments in more than 30 companies across a broad range of investment sizes, structures and asset classes. Flexpoint Ford is headquartered in Chicago with additional offices in New York. For more information about Flexpoint Ford, please visit www.flexpointford.com.