US brokers Protecdiv, Cobbs Allen and CAC Specialty form strategic partnership
US-based property/casualty re/insurance broker Protecdiv has formed a strategic partnership with independent broker Cobbs Allen and CAC Specialty.
The partnership aims to broaden the footprint of both brokers in the auto, financial, energy, construction, public entity, and reinsurance markets.
Cobbs Allen specialises in commercial insurance, employee benefits, personal insurance and alternative risk financing. In August 2019, Cobbs Allen launched and took a minority stake in the newly created national insurance broker CAC Specialty.
Protecdiv launched in January 2020 to provide speciality insurance, reinsurance and mortgage solutions to companies and public entity clients.
“Cobbs Allen and Protecdiv are complementary businesses,” said Bruce Denson Jr., president of Cobbs Allen and CAC Specialty. “Our strategic visions and expertise are aligned, which is an important factor when we consider strategic partnerships.”
Kael Coleman, founder and chief executive officer of Protecdiv, added: “Cobbs Allen has the foresight to invest in this type of partnership. Rather than just fulfilling a request-for-proposal for a client that wants greater diversity amongst its supplier bases, this strategic partnership gives the opportunity for us to provide truly diverse perspectives.”
Coleman added: “As a technology-efficient broker, we are impressed with Cobbs Allen and CAC Specialty’s strong focus on innovation, data and technology. Backed by strong carrier support for this joint initiative, Cobbs Allen and Protecdiv can offer a holistic solution with all the necessary and required infrastructure and expertise to work with Fortune 2000 companies placing industrial scale commercial insurance and reinsurance contracts.”
