CAC Specialty swoops for AIG leader to boost financial lines

Specialty insurance brokerage and investment banking business  CAC Specialty has hired a former American International Group (AIG) leader to bolster its financial line practice.

Tom Power (pictured) joins as senior vice president and leader of CAC’s financial institutions group.

Power has over 14 years of experience working with financial institutions. He began his career in operations at Citigroup Smith Barney, where he assisted in managing order flow. Then, Power transitioned to AIG as a major accounts team leader within its financial institutions group. While with AIG, he continued to take roles of increasing responsibility, culminating in him becoming the head of AIG’s financial lines team in the southeast.

Throughout his time with Citigroup and AIG, Power built a diverse background in the insurance industry working on a variety of product sets like D&O, E&O, fidelity and employed lawyers.

Darren Sonderman, executive vice president and co-leader of CAC Specialty’s financial lines practice, said: “Tom is an important addition to our Financial Lines team. We are excited to bring in someone who has led at every level with such varied experience.”

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