Reinsurance News

Protecdiv closes first reinsurance deal with Sompo, BMS

29th June 2021 - Author: Matt Sheehan

Specialty property and casualty re/insurance broker Protecdiv has announced the completion of its first transaction for Sompo International with strategic partner BMS Group.

protecdivThe 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.”

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Kael Coleman, Founder and Chief Executive Officer at Protecdiv, also commented: “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.”

Protecdiv is a property and casualty insurance and reinsurance broker and mortgage risk transfer advisor that serves large publicly traded and privately held companies, as well as government and government-sponsored entities.

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