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About ICG
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Anne Melissa Dowling


Anne Melissa Dowling is an accomplished insurance industry executive with significant private sector, public sector service and board experience.  Over the past six years she has served at a high level in state government. In 2015, she was recruited by newly elected Illinois Governor Bruce Rauner as the state’s Director of Insurance. She led highly successful regulatory innovations, developing and delivering creative solutions to an ever-expanding set of dynamics driven by technology, globalization, and a historically low interest rate environment. Prior to serving in Illinois, she was appointed as Connecticut’s Deputy Commissioner of Insurance by newly elected Governor Malloy’s administration in 2011. Her portfolio included virtually every domestic regulatory issue impacting the insurance industry. Over three years, she led successful initiatives in such diverse areas as healthcare, financial services and consumer outreach. In 2014, she was Connecticut’s Acting Commissioner of Insurance, leaving the post in 2015.  

Ms. Dowling had a highly successful career in domestic and international insurance investment and operating divisions, including executive roles with Massachusetts Mutual (MMG), Aetna, and Travelers. She grew the Institutional Insurance Division of MMG from a startup to $12 billion in assets under management.  Prior to that, she was Chief Investment Officer at Connecticut Mutual. 

Anne Melissa also has significant governance experience, amongst which are service on the board of directors of Prosperity Life, SBLI and Shenandoah Life and as an Advisory Board Member for the North American Connected Insurance Observatory, Carpe Data (a predictive analytics company for the insurance industry) and Life Epigenetics (an epigenetics company in the insurance space). For a period of five years she also served as Director of Spectranetics Corporation. She has also served on several non-profit and educational boards of trustees including The Hartford Public Library (President), Amherst College, The University of Connecticut Foundation and Miss Porter’s School, amongst others. She is a Chartered Financial Analyst (CFA). Anne Melissa is a graduate of Amherst College and the Columbia University School of Business.

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Jose Montemayor


Jose Montemayor has over twenty five years of experience in all aspects of insurance regulation, operations, and insurance M&A, including six years as the gubernatorial appointed Commissioner of Insurance for the State of Texas. Mr. Montemayor was instrumental in creating protocols for the early identification and intervention of companies at risk of insolvency which have been credited with dozens of successful company rehabilitation interventions. Mr. Montemayor is currently a Director of CNA Financial Corp. (NYSE: CNA), American Overseas Group Ltd. (Bermuda); Prosperity Life Insurance Group LLC, Shenandoah Life Insurance Company, SBLI USA Life Insurance Company, Inc.,  Seton HealthCare Family (member of Ascension Health), and the Seton Healthcare Plan.  Mr. Montemayor is a Certified Public Accountant and a member of the Texas Society of CPAs, the AICPA, and the Society of Financial Examiners.  He is a graduate of St. Edwards University (BA Management) and holds advanced degrees in Management (MA Management) from Webster University, Logistics (MS Logistics) from the Air Force Institute of Technology, and Accounting (MAccy) from Texas State University.

Matt Popoli

Founder and Chief Executive Officer

Founder and Chief Executive Officer with 20 years of insurance industry experience with a specialized focused on sponsored demutualizations and similar complex conversion transactions. Prior to founding ICG, Mr. Popoli was a partner and Senior Managing Director at Reservoir Capital Group, which he joined in 2005, and led its financial services investing activities.  Previously, Mr. Popoli was a Principal at Capital Z Partners and began his career as an investment banker in the insurance group at Morgan Stanley & Co.  Mr. Popoli is a graduate of Amherst College, where he received a B.A. in Economics.  

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