Insurers Commend Bush For Promoting Experienced Regulator To Commissioner

N/Ar George W. Bush today announced his intention to appoint Jose O. Montemayor, 47, as commissioner of insurance for a term ending Feb. 1, 1999, at which time the governor will reappoint him for a full two-year term. Previously, Montemayor has served as associate commissioner of the financial division at the Texas Department of Insurance.

"Governor Bush has made an excellent selection in the appointment of Jose Montemayor as insurance commissioner," said Ronald H. Cobb, <%=company%> vice president for the southwest region. "Sometimes it is necessary to look outside a department for a commissioner with a fresh approach, but not in this case. The governor definitely got the most qualified person for the job."

Cobb cited Montemayor's past accomplishments and leadership as the basis for insurers' positive reaction to the appointment. "Throughout his career at TDI, Jose has proven to be an effective and fair regulator," Cobb said. "During his tenure as associate commissioner of TDI's financial division, company insolvency has dropped to its lowest point in the past thirty years. In addition, Mr. Montemayor has taken on a leadership role in activities within the National Association of Insurance Commissioners and has been at the forefront of TDI policy development on issues such as Y2K and NAFTA

"I look for this to be a very seamless transition," Cobb said. "Jose is well respected by his fellow TDI employees and frankly there will be no learning curve for him to conquer."

A certified public accountant, Montemayor is a member of the Texas Society of Certified Public Accountants and the Society of Financial Examiners. He earned a bachelor's degree from St. Edward's University, a master's in administration from Webster University, a master's in logistics management from the Air Force Institute of Technology and a master's in accountancy from Southwest Texas State University.

Montemayor will fill the unexpired term of Insurance Commissioner Elton Bomer who is resigning effective Jan. 10, to become a senior advisor to Gov. Bush. The appointment is subject to senate confirmation.