Open Lending appoints insurance veteran Todd Hart to board of directors

AUSTIN - Open Lending Corporation (NASDAQ:LPRO), a provider of lending enablement and risk analytics solutions for financial institutions with a market capitalization of $278.3 million, announced Thursday the appointment of Todd C. Hart to its Board of Directors as a Class II director, effective immediately. According to InvestingPro data, the company’s stock has shown strong momentum with a 9.7% return over the last week, though currently trading below its Fair Value.

Hart, who brings more than 35 years of experience in the insurance and financial services industries, will serve on the company’s Compensation and Nominating & Governance Committees. He replaces Adam Clammer, who is stepping down from the board.

Currently serving as Founder, Chairman and CEO of Upland Capital Group, Hart previously led Narragansett Bay Insurance Company through its post-Superstorm Sandy recapitalization and subsequent sale to Heritage Insurance. He also served as CEO of Swiss-based Glacier Group.

Earlier in his career, Hart managed insurance products investments and trading at HBK Capital Management and worked at J.P. Morgan & Co. executing mergers and financings for Fortune 1000 clients.

"His extensive background in risk management, financial services, and insurance will be invaluable as we continue to execute our growth strategy," said Gene Yoon, Chair of Open Lending’s Nominating & Corporate Governance Committee, in a press release statement.

Hart holds an MBA from Harvard Business School and an AB in Economics from the University of North Carolina at Chapel Hill, where he was a Morehead-Cain Scholar. He currently serves on the Board of Advisors for the Institute of Risk Management and Insurance Innovation at UNC.

Open Lending has provided loan analytics, risk-based pricing, and default insurance to auto lenders throughout the United States for over 20 years. The company maintains a strong liquidity position with a current ratio of 5.67, indicating robust short-term financial health. For deeper insights into Open Lending’s financial metrics and growth potential, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to over 10 additional ProTips and detailed financial metrics.

In other recent news, Open Lending Corp reported its financial results for the second quarter of 2025, surpassing analyst expectations. The company achieved an earnings per share of $0.01, while analysts had projected a loss of $0.01 per share. Open Lending also reported revenues of $25.3 million, exceeding the anticipated $23.82 million. These results highlight the company’s financial performance, which has been better than expected. Additionally, the earnings release provided investors with a clearer view of the company’s current financial health. Analyst firms have taken note of these results, which could influence future evaluations. These recent developments provide investors with important insights into Open Lending’s operations and financial trajectory.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.