Greg Lauer Email & Phone Number

Sompo International acquired the operating companies of Lexon Surety Group on June 1, 2018 !

The Operating Companies of Lexon Surety Group were acquired by Sompo International on June 1, 2018.Responsible for all financial activities:• Led, analyzed, and completed numerous Mergers & Acquisitions.• Implemented new accounts receivable procedures which increased cash flow.• Streamlined workflows and increased reporting timeliness and accuracy.• Oversee issuance of all Financial Reports.• Manage investment portfolio.• Responsible for budgeting, forecasting, and presentations to Rating Agencies (AM Best, S&P and Fitch).• Negotiate and draft Reinsurance Contracts.• Member of the Board of Directors.

Provided accounting and operational consulting services while assuming roles such as Controller and Vice President of Operations. • Developed company strategic plan.• Developed scorecards, tracking schedules and benchmarks for measuring performance. • Improved the integrity of reporting by implementing new controls and procedures.• Designed the layout for and oversaw installation a new General Ledger Package.• Implemented a lock box facility with an interface to electronically apply 50% of payments, eliminating the need for three positions.• Reduced receivable delinquencies by 75% in two months.• Restructured departments to create operational efficiencies and to focus efforts. • Presented results at Board of Directors meetings.

Responsible for reporting, internal controls, budgeting and forecasting, staff management, department restructuring, process redesign, and department turn-around. • Rebuilt a department of 35 from the ground up hiring 22 and terminating 6 in the process.• Improved business partner relationships by implementing new procedures and controls.• Salvaged a $25 million client relationship.• Reduced overdue receivables by $12 million in two months.• Created a Balanced Scorecard for measuring departmental performance.

Responsible for all financial activities of a $300 million, fast-paced, international company.• Saved millions of dollars by detecting a computer error which would have cost $200,000 on the single item detected. • Consolidated a sister company’s ($90 million of business) department into the corporate headquarters and eliminated three positions (1996). Detected and corrected the sister company’s accounting errors and irregularities that amounted to $1.5 million. • Redesigned company-wide computerized and manual workflows and implemented a new computer system configuration as a member of the Systems and Work Flow Redesign Team.• Responsible for department workflows, financial reporting, budgeting, staff management, reviewing reinsurance, and issuing the P&C Statutory and GAAP Statements. • Reengineered accounting processes and eliminated three positions.• Reviewed and submitted quarterly, annual, and supplemental P&C Statutory Reports to the NAIC and all 50 state insurance departments for two insurance companies.• Increased annual revenues $1.2 million by redefining the scope of insurance policy premium audits and implementing new monitoring procedures.

Masters, Business Administration; Strategic Management & Marketing

Bachelor Of Science, Business; Accounting