Protecdiv appoints former insurance commissioner to help reach $100m revenue goal

Protecdiv, a US-based property and casualty re/insurance brokerage, has appointed Jose Montemayor to its board as it sets out to build a tier-one brokerage with "$100 million in revenue in the next five years".

Montemayor has more than 25 years’ experience in all aspects of insurance regulation, operations, and mergers and acquisitions. He spent six years as the Commissioner of Insurance for the State of Texas, where he worked in creating protocols for the early identification and intervention of companies at risk of insolvency.

Montemayor currently sits on a number of other boards in the industry, including CNA Financial, American Overseas Group (Bermuda), Prosperity Life Insurance Group, Shenandoah Life Insurance Company, SBLI USA Life Insurance Company, Seton HealthCare Family (member of Ascension Health), the Seton Healthcare Plan, and others.

“Jose’s significant accomplishments and experience in the insurance and reinsurance industries, particularly his expertise in regulatory matters, will be an invaluable resource to our team as we set out to build Protecdiv into a $100 million revenue brokerage in the next five years,” said Kael Coleman, founder and chief executive officer of Protecdiv.

Paul Little, chief operating officer at Protecdiv, added: "We are excited to welcome Jose as a new independent director. We are confident he will provide valuable perspectives as we execute our growth strategy that in part focuses on building deeper public private partnerships to drive profitability and enhance value for Protecdiv’s clients and shareholders.”

Montemayor commented: “I’m honoured by the opportunity to serve on the board of Protecdiv and help crystalize the founders’ vision of building a tier-one brokerage led by an exceptional, nationally recognized, team.”