PICO Holdings Inc. announced that, in response to the recommendation of one of its institutional shareholders, First Foundation Advisors, and other shareholder input, Eric Speron has been appointed to its Board of Directors effective January 16, 2016. Mr. Speron will be an independent director as defined under Rule 5605(a)(2) of the NASDAQ Marketplace Rules. Mr. Speron, age 35, brings to the PICO Board extensive experience, perspectives and insights as a portfolio manager.

He is currently a Portfolio Manager and Investment Committee member of First Foundation Advisors. Mr. Speron will fill the vacancy resulting from the resignation of Julie H. Sullivan, PhD as a Class I director. Dr. Sullivan has chosen to resign from the PICO Board, effective December 31, 2015, to focus more of her time and attention on her responsibilities as President of the University of St.

Thomas in St. Paul, Minnesota and the numerous civic, charitable and other non-profit organizations in the Minneapolis /St. Paul area that she is deeply committed to.