Proctor Promoted to President of IMA Companies

Wichita, Kansas-based insurance brokerage, IMA Financial Group Inc., has promoted Luke Proctor to president of IMA Companies, a newly created position to oversee all IMA Financial Group subsidiaries.

Proctor will report to IMA Financial Group Chairman and CEO Robert Cohen. IMA Wichita President Kyle Orndorff will continue to lead his local team of nearly 200 associates.

The companies under Proctor’s management include IMA Inc., a retail insurance broker; IMA Select, a small-business and personal insurance broker; Towerstone, Inc., a wholesale insurance broker; Eydent Insurance Services, a managing general underwriting specializing in niche insurance solutions; CORnerstone Risk Solutions, an alternative risk services company; and IMA Wealth, an SEC- registered investment advisory firm. The companies generate nearly $170 million in revenue annually, according to IMA’s announcement.

One internal measure of IMA success has been to outperform the industry growth rate. In 2018, IMA’s organic growth rate was 8.3 percent, which exceeded the industry average of 6.1 percent.

IMA Chief Financial Officer Mike Benson has been hired to fill Proctor’s former position. Benson is based in Denver. Possessing a broad background in finance and accounting, Benson previously held positions with KSE Sports & Entertainment in Denver and was most recently chief operating officer and chief financial officer for GROUP360 in St. Louis, Missouri.

Benson and Proctor will work with IMA Inc. President Bob Reiter who will manage IMA Inc. and lead a new endeavor for the company called Client X, a transformational service initiative to help fuel IMA’s growth.

The IMA Financial Group Inc. (IMA) is a diversified financial services company specializing in risk management, insurance, employee benefits solutions and wealth management. It employs more than 700 associates at offices in Colorado, Kansas, Michigan and Texas.

Source: The IMA Financial Group Inc.