The Baldwin Group, a US-based impartial insurance coverage brokerage, has concluded its merger with middle-market insurance coverage brokerage CAC Group for an upfront consideration of $1.03bn.
The deal was introduced in December 2025.
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CAC Group includes a number of divisions: CAC Specialty, which focuses on specialised insurance coverage brokerage; CAC Company, providing property and casualty, private strains and worker advantages providers; and CAC Capital, a structured options unit concerned in insurance coverage and capital markets.
The deal is anticipated to be accretive to Baldwin’s 2025 adjusted earnings per share (EPS) by greater than 20%, based mostly on projected full run-rate synergies and excluding one-off integration and transaction prices.
On the time of the deal’s announcement, the corporate projected that internet leverage will stay “impartial” at closing and that it intends to pursue accelerated deleveraging by way of 2028.
The combination is anticipated to broaden the scope of Baldwin’s Insurance coverage Advisory Options section by incorporating CAC’s experience in areas together with building, schooling, pure sources, non-public fairness, actual property and senior residing.
Moreover, the mix will add to Baldwin’s capabilities in monetary strains, transactional legal responsibility, cyber threat and surety merchandise, supported by CAC’s knowledge and analytics infrastructure.
The merged enterprise plans to align CAC’s specialist information with Baldwin’s middle-market distribution community.
The group can even proceed to function current reinsurance and managing normal agent (MGA) providers and use expertise platforms developed by Baldwin.
The mixed enterprise has round 5,000 workers throughout main US markets, serving purchasers in retail, specialty, reinsurance and MGA sectors.
