TMG Insurance Services, LLC (The Mutual Group) has named Peter Houston as chief growth officer and head of corporate development.
The appointment marks the establishment of a new executive position focused on advancing the company’s acquisition and growth strategy within the mutual insurance sector.
In his new role, Houston will oversee the company’s mergers and acquisitions activity and lead strategic efforts to expand its membership base. Reporting directly to CEO Tim Fleming, Houston will be responsible for identifying, evaluating, and integrating new partners, working alongside the broader executive team to execute growth initiatives.
Houston joins The Mutual Group from Keefe, Bruyette & Woods, Inc. (KBW), an investment bank focused on financial services and fintech. At KBW, he most recently served as managing director, advising insurance companies on transactions such as mergers and acquisitions, capital raising, affiliations, divestitures, and restructurings.
He brings 15 years of transaction and advisory experience in the insurance sector and holds a degree from Williams College.
Fleming said Houston has a strong track record in advising mutual and specialty property and casualty carriers and has worked closely with mutual insurance company boards.
“His industry expertise, broad network of relationships and deep understanding of complex insurance deals will be invaluable as we accelerate our growth and strengthen our impact in the industry,” Fleming said.
In December 2023, Bain Capital Insurance invested $200 million into GuideOne Insurance Company to launch The Mutual Group. The company commenced operations with approximately $800 million in annual premiums, servicing over 50,000 commercial policyholders across the United States.
Based in West Des Moines, Iowa, the company employs more than 400 professionals across its four service verticals: underwriting, claims, corporate services, and technology.
TMG’s last major appointment was in August, when it brought in Patrick Markowski as senior vice president and chief operating officer.
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