Philadelphia, PA, and Birmingham, AL, U.S. 06 MAY, 2020: Protecdiv, the first tier-one minority-led insurance and reinsurance broker in the U.S., has partnered with U.S. national independent broker Cobbs Allen to better service the complex needs of corporate and public entity clients.
The partnership broadens the footprint of both brokers in the auto, financial, energy, construction, public entity, and reinsurance markets.
Cobbs Allen specializes in commercial insurance, employee benefits, personal insurance and alternative risk financing and is ranked in the top 50 privately held firms in the country. In August 2019, Cobbs Allen launched and took a minority stake in the newly created national insurance
broker CAC Specialty. CAC Specialty is a specialist broker that brings insurance brokerage and structured solutions to its public, private and financial sponsor clients across the U.S.. Cobbs Allen and CAC Specialty have a combined 15 offices across the country, stretching from coast to coast.
Protecdiv launched in January 2020 to provide speciality insurance, reinsurance and mortgage solutions to Fortune 2000 and public entity clients. Protecdiv created the first U.S. minority-owned insurance and reinsurance brokerage after identifying a drive in the U.S. by larger enterprises to have greater diversity among their supplier base.
Protecdiv’s strategic partnership with Cobbs Allen [and CAC specialty] will provide a joint proposition to clients with businesses in the auto, financial, energy, construction, public entity, and reinsurance
“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.”
The two firms will collaborate, creating unique efficiencies and expanded footprints for each company.
“Cobbs Allen has the foresight to invest in this type of partnership,” said Kael Coleman, Founder and Chief Executive Officer of Protecdiv. “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.”
“As a technology-efficient broker, we are impressed with Cobbs Allen and CAC Specialty’s strong focus on innovation, data and technology,” added Coleman. “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.”
Protecdiv media contact:
+44 (0)7718 882011
Cobbs Allen media contact:
Senior Vice President of Marketing & Communications
Issued by Rein4ce on behalf of Protecdiv and Cobbs Allen.
Protecdiv is a Property & Casualty insurance and reinsurance broker and Mortgage Risk Transfer advisor serving large publicly-traded and privately-held companies, as well as government and government-sponsored entities.
Technology and diversity lie at the heart of the company’s business model. Protecdiv is a technology efficient company and the only minority-owned insurance broker that will universally qualify as a tier one broker for Fortune 2000 companies.
For more information, please visit protecdiv.com.
About Cobbs Allen:
Cobbs Allen is an independent, national agency focused on risk management in niche practice groups. Founded in 1887 and headquartered in Birmingham, AL, Cobbs Allen has offices in Columbus, Houston, New Orleans, Kansas City, Mobile and Tulsa. The firm is still owned and led by
For more information about Cobbs Allen, please visit cobbsallen.com.
About CAC Specialty:
CAC Specialty is an employee-owned risk solutions company of seasoned and proactive industry leaders, operating as a nimble and collaborative partner who puts you and your business first. With a knowledge-driven approach informed by data and decades of honed instinct, CAC Specialty brings an innovative vision to insurance broking and structured solutions to solve your risk challenges – from the simple to the previously unsolvable.
For more information about CAC Specialty, please visit cacspecialty.com.