Private equity firm Abry Partners has agreed to succeed Capital Z as Portfolio's principal investor.
Joseph Najar brings 25 years of technology and retail automotive experience to his new role as a reinsurance specialist at Portfolio.
Thirty-five-year industry veteran Peter Jacobson, formerly with Toyota Financial Services, has joined Portfolio as a reinsurance specialist.
Portfolio earned its fourth first-place Diamond award in five years in the 2018 Dealers' Choice Awards, extending a decade-long run as a top-ranked reinsurance provider.
Former First Extended and Resource Agent Group executive and 33-year industry veteran John Luckett has joined Portfolio as a Texas-based managing director.
Portfolio has agreed to acquire one of its largest-producing agencies, Finance Concepts of Folsom, Calif., where Perry Montoya and Jeff Burnett will remain as principals.
Portfolio's newest service contract offering was designed to cover such factory-installed components as navigation, audio and video systems for buyers of new and pre-owned vehicles.
Dealers have ranked Portfolio among the industry's top three reinsurance providers in the Dealers' Choice Awards for the 10th year in a row.
Wyoming Automobile Dealers Association's Chuck Ruwart cited Portfolio's "dealer-centered approach" as a driving factor behind a new agreement that will introduce the company's award-winning reinsurance program to retailers statewide.
A group led by Texas Monthly magazine has added Portfolio's Dallas office to its list of the 100 Best Companies to Work for in Texas, identifying the reinsurance and F&I products provider as a key contributor to the state's economy, workforce and businesses.