Chief of GMAC Insurance division resigns

Posted: May 26, 2012 at 5:20 am

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The chief executive of GMAC Insurance's personal-lines division, Larry Pentis, has resigned, the company confirmed Friday.

Pentis was named as chief executive when a subsidiary of AmTrust Financial Services Inc. completed its purchase of the GMAC division in March 2010.

"Larry Pentis will be leaving his position," AmTrust said in a statement. "We appreciate Larry's efforts and contributions over the past two years, and we wish him the best in his future endeavors."

The company declined to comment beyond its statement. Pentis could not be located for comment.

The company said Byron Storms has been named as president of GMAC Insurance and would be based in Winston-Salem. AmTrust recently bought California-based Clearside General, where Storms served as chief executive.

The company did not say who would serve as chief executive of GMAC Insurance.

Storms has served as executive director of Farmers Insurance and also managed personal-lines businesses for Foremost and Bristol West Insurance.

"Byron brings energy, vision and passion for excellence to GMAC Insurance," the company said.

Pentis' resignation is the latest development involving GMAC Insurance.

About 700 local employees have been bracing for months for the company to announce whether it will keep its operations in Winston-Salem or move them to Cleveland.

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Chief of GMAC Insurance division resigns

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May 26th, 2012 at 5:20 am