CAC Specialty, the industry’s only integrated specialty insurance brokerage and investment banking business, today announced the appointment of Michael D. Rice II as its Chief Executive Officer.

Rice brings more than 25 years of experience in the brokerage industry. Most recently, he served as the founding Chief Executive Officer and Executive Chairman of JLT Specialty USA. Previously, he spent more than 20 years at Aon serving in various leadership capacities.

“We are delighted that Mike has decided to join CAC Specialty as our Chief Executive Officer,” said Paul Sparks, Executive Chairman of CAC Specialty. “His unmatched talent, industry experience, and institutional relationships will greatly enhance our growing market presence. Mike’s appointment is a demonstration of our continued, unwavering commitment to build a best-in-class, game-changing industry platform.”

Rice will lead CAC’s team of experienced and accomplished insurance and Wall Street executives including Bruce Denson Jr., President; David Payne, Chief Revenue Officer; and Jack Leventhal, Senior Managing Director and Head of Investment Banking.

“I’m honored to be joining CAC Specialty as its CEO,” Rice said. “I am grateful to the Board of Directors for their trust in me and for the vision that built this innovative and integrated insurance brokerage and investment banking platform. CAC has assembled an incredibly talented group of insurance and investment banking specialists, all of whom are focused on challenging the status quo for the benefit of our clients and our employees. Our foundation is strong, and I could not be more excited about our future.”

CAC Specialty represents the next wave in the continuing convergence of insurance and capital markets by combining structured finance solutions with insurance broking capabilities. The platform allows for more unique offerings in response to the increasingly complex needs of today’s corporate and private equity clients.

CAC Specialty is committed to independence – allowing the firm to focus on long-term strategies which benefit its clients and employees.