Reinsurance News

Protecdiv completes placement deal with Maquia Capital

24th September 2021 - Author: Charlie Wood

US re/insurance broker Protecdiv has completed a procurement and placement deal with Maquia Capital in partnership with CAC Speciality.

protecdivMaquia Capital is a Miami based Financial Group that in December 2020 announced plans to launch a SPAC for the acquisition of growth-oriented Technology companies. The firm is aiming to improve its position as one of the leading investment firms in Miami.

Protecdiv, alongside partner CAC Specialty, led the procurement and placement of Maquia’s Directors and Officers business.

The team helped Maquia navigate a toughening market for Spac’s and were able to procure coverage placed focused on directors’ & officers’, fiduciary, crime, kidnap & ransom, and cyber.

The project was another conducted as part of the co-brokering partnership Protecdiv has with CAC Specialty, which was first announced in May 2020.

“I am delighted to have partnered with Protecdiv to support the launch of Maquia Capital” said Jeff Ransdell, CEO, Maquia Capital.

“Protecdiv and their team were instrumental in helping us navigate a tough time for a Spac launch, I was impressed by their organization and their mission to create a more modern and responsive broker.

“Supplier diversity is an important to us at Maquia Capital working with Protecdiv has enabled us to turn words into actions, while working with a highly experienced and knowledgeable team.”

“Working with Protecdiv and CAC Specialty was a seamless experience, and they provided my team with expert advice on navigating a tough market. They were with us every step of the way offering advice and insights with the breadth of market understanding needed to place such an important line of business,” said Guillermo Cruz, COO, Maquia Capital.

“The team was able to navigate the current difficult markets conditions effortlessly and bring the entire project in under budget. Working with Protecdiv helped us to be in front of the changing market and provided a much-needed fresh perspective to the industry.”

“It is great to announce Protecdiv’s third deal in as many months with established market leader Maquia Capital,” said Kael Coleman, Founder and Chief Executive Officer at Protecdiv.

“The SPAC market is undergoing challenging market conditions and it was important that Maquia Capital had the confidence in its brokers to support it as the company launched its SPAC.

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