Brokerages Cobbs Allen and CAC Specialty have merged, the companies said Wednesday.
The companies, which have a combined 400 staff, will continue to use their existing names “for the time being,” they said in a statement.
Mike Rice, previously CEO of CAC Specialty, will be CEO of the combined brokerage, and Bruce Denson Jr., previously president of both units will retain that title.
The brokerages, which are units of Birmingham, Alabama-based holding company CAH Holdings Inc., combined as the 41st largest brokerage of U.S. business with $142 million in 2021 revenue, according to Business Insurance’s most recent ranking.
CAC Specialty was formed in 2019.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.