Bob Menke, the person who based St. Petersburg-based Bankers Insurance coverage Co., one of many oldest property insurers in Florida, died final week at age 89.
“The corporate that Bob based in 1976 has grown into one of many largest privately held monetary providers firms within the Tampa Bay Space,” Bankers Monetary Corp. CEO John Sturdy and President Rob Menke, Bob’s son, stated in a press release. “At the moment, BFC’s firms present private and industrial property insurance coverage, full-service human useful resource outsourcing, client guarantee and life-style providers, insurance coverage and monetary providers for homebuilders, and the underwriting of surety bond contracts.”
Bankers Insurance coverage was one of many first firms to enter the Nationwide Flood Insurance coverage Program, and it was as soon as thought of one of many bigger property-casualty insurers in Florida.
However by June 2022, the corporate, with some 27,000 insurance policies in power in Florida, introduced it had stopped writing new private strains enterprise within the state. The transfer got here after the insurer stated it had misplaced cash within the Florida marketplace for 5 years, thanks partly to claims litigation and escalating reinsurance costs.
Bob Menke graduated from the College of Florida with a level in industrial engineering, however his entrepreneurial spirit led him into the insurance coverage enterprise, the corporate assertion famous. He additionally was instrumental in founding the Financial institution of Florida in 1974, and was later chairman of First Group Financial institution Corp. of America, in line with information stories.
Menke was described as being dedicated to his household and to firm assist for Johns Hopkins All Youngsters’s Hospital, the Salvation Military and the St. Petersburg Faculty of Orthotics and Prosthetics program.
Menke was named the Florida Affiliation of Home Insurance coverage Firms’ “Man of the Yr” in 1986. He was a member of the Society of Worldwide Enterprise Fellows.
“Bob’s household and the higher BFC household are extremely grateful for the numerous sort expressions of assist we now have acquired,” the corporate assertion stated.
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