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Munich Re has also temporarily stopped underwriting Jetty policies.
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Montemayor also sits on the board of the insurance-focused private equity fund Black Diamond.
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A record number of risks were placed on the platform last week, as companies continue trading remotely.
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He was previously a treaty reinsurance managing director at Aon.
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Premiums more than double, while the unit's net loss shrinks from the prior-year period.
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The intermediary is targeting expansion into the insurance, reinsurance and mortgage insurance sectors.
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The fund will focus on Series B onwards, evolving from pre-seed and Series A.
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The company will use the money to expand in the US.
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The investment is part of a “seven-figure” seed round.
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