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CAC Specialty forms Financial Sponsors insurance team

4th October 2019 - Author: Matt Sheehan

CAC Specialty, the specialty insurance brokerage and investment banking platform recently established by Cobbs Allen, has announced the creation of a dedicated team providing insurance and capital market solutions to the private equity community.

CAC SpecialtyThe newly-formed Financial Sponsors Group (FSG) will bring together seven interdisciplinary specialties, CAC Specialty explained.

These include sponsor insurance, portfolio solutions transaction insurance, structured solutions, private debt financing, special situations, and data and analytics.

“We couldn’t be more excited to launch FSG,” said Mike Rice, Chief Executive Officer (CEO) at CAC Specialty’s.

“We are fully committed to bringing together the best talent in the industry to serve our financial sponsor clients,” he continued. “We strive to make an impact for our clients through our ability to bring integrated insurance brokerage and investment banking disciplines to solve complicated client problems.”

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Chief Revenue Officer David Payne also commented: “Our clients are interested in risk transfer regardless of whether it is placed in traditional or alternative risk capital markets.”

“CAC is unencumbered by legacy structures that get in the way of bringing the full paradigm of risk transfer to clients,” he added. “We are transforming the industry.”

CAC Specialty has been making key hires to the FSG over the past several months, including the appointments of Rachel Beck as head of the Sponsor Insurance segment, André Eichenholtz for the Portfolio Solutions Group, and Michael Wakefield for the Transactional Liability Practice.

Structured Solutions will continue to be led by Jack Leventhal and Bruce Denson Jr., while Vince Mutolo has taken over Private Financing solutions.

Additionally, Jason Horwitz now leads CAC Specialty’s Special Situations Group (SSG), and Kamini Patel and Michelle Lam have responsibility for Data and Analytics.

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