Minority-led broker Protecdiv strikes first reinsurance transaction with BMS for Sompo

Protecdiv, the first tier-one minority-led insurance and reinsurance broker in the US, has completed its first transaction for  Sompo International with strategic partner  BMS Group.

The transaction was conducted as part of the co-brokering partnership Protecdiv has with BMS Group and is the first transaction executed alongside BMS Re. Protecdiv first announced its partnership with BMS Group in July 2020.

“We are proud to be the first insurer to use Protecdiv, the only minority-owned reinsurance brokerage firm,” said Michael Chang, chief executive officer, Sompo Global Risk Solutions at Sompo International. “Diversity is very important to us at Sompo International, but it must also be accompanied by the expertise and service level we expect from all our partners. That is what Protecdiv brought to this transaction.”

Kael Coleman, founder and chief executive officer at Protecdiv, said: “We are thrilled to have placed our first reinsurance transaction on behalf of the team at Sompo International. Our partners at Sompo International are dynamic, forward-thinking individuals who understand the competence, market relationships, value and alternative perspective challenger brokers like Protecdiv and BMS can bring. We are pleased to have completed this significant transaction for an industry-leading client with our strategic partners at BMS Re.”

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