Cobbs Allen unveils new specialty brokerage CAC to serve corporate and private equity clients

US-based enterprise risk management agency Cobbs Allen has formed a new specialty insurance brokerage and investment banking platform to serve corporates and private equity clients. The company believes that current consolidation in the marketplace has created a need for an independent platform with scalability and the ability to move quickly and nimbly.

The new entity, called CAC Specialty, aims to bring bespoke insurance solutions to public and private companies and private equity sponsors. The platform will combine the capabilities of an investment bank and an insurance broker to offer creative risk-transfer solutions.

CAC will be led by a team of experienced insurance and capital markets executives. Paul Sparks, who has more than 25 years of experience as the founder and head of the financial services division of McGriff, Seibels & Williams, will serve as executive chairman of CAC. David Payne, who was previously the chief revenue officer of JLT, will be the chief revenue officer. Jack Leventhal, senior managing director and executive officer at Teneo Capital, will lead the investment banking business, and Bruce Denson Jr., president of Cobbs Allen, will also serve as president of CAC.

Cobbs Allen said CAC Specialty represents the next wave in the long-term convergence of insurance and capital markets by combining structured finance solutions with insurance broking capabilities.

“The current consolidation in the insurance brokerage marketplace has created a need for an independent platform with scalability and the ability to move quickly and nimbly to serve the increasingly complex needs of corporate and private equity clients,” Sparks said. “CAC Specialty’s capabilities, talent and ownership structure provide a needed industry paradigm shift.”

Leventhal added: “This new platform will combine the capabilities of an investment bank and an insurance broker to offer creative risk-transfer solutions for clients. We will deliver a unique suite of products and services that will help clients significantly reduce costs, increase capital efficiency and facilitate the execution of strategic priorities.”

Payne commented: “I am excited to be part of a platform that has aligned its business to its clients and its employees. Our ability to bring end-to-end risk transfer solutions will drive meaningful benefits for our stakeholders. The risk market is changing rapidly and the CAC Specialty platform will lead from the front in providing creative solutions to solve complicated risk issues. The future is very exciting.”

Denson said: “Our experience at Cobbs Allen has taught us that employees invested in the long-term value of their own company produce the longest-term value for our clients. We couldn’t be prouder to be part of such a watershed moment in our industry. I look forward to working with the leadership of CAC Specialty and many more talented individuals who want to create value every day for their clients.”

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