NEW YORK, Aug. 20, 2019 /PRNewswire/ -- JenCap
Holdings (JenCap), a specialty insurance business, announced today
that it has agreed to acquire privately-held Aran Insurance
Services Group (Aran), a specialty program administrator with
offices in Arizona, Colorado, Massachusetts and New York. Founded in 2009, Aran has been led
by Tim Kenny and John LaCava who have built one of the leading
program administration insurance platforms in the country.
JenCap Holdings (JenCap) was formed in March 2016 by The Carlyle Group (Nasdaq: CG) and
JenCap management to consolidate specialty insurance distribution
businesses, including managing general agents, program managers and
transactional wholesale brokers. The acquisition of Aran is the
ninth transaction by JenCap since its founding, and places the
company among the largest specialty insurance distribution
platforms in the U.S.
"The Aran team has built a multi-faceted company with a wide
variety of property and casualty programs for specialty markets as
well as a strong presence in the accident and health market," said
John F. Jennings, President and
Chief Executive Officer of JenCap. "We are excited to help in the
expansion of Aran and its subsidiary companies within JenCap."
Aran Insurance Services Group Co-Founder and Chairman,
Tim Kenny stated, "Aran has a
long-standing commitment to our clients, carriers, and team
members, and we specifically sought out a strategic partner that
shared this focus. JenCap fulfills this goal, and we are very
excited about our partnership."
"Aran's strategic partnership with JenCap creates a number of
opportunities for growth and development," commented John LaCava, Aran Insurance Services Group
Co-Founder, President and CEO. "We look forward to expanding our
programs, markets, and capabilities through JenCap's established
network of carriers and agency partners."
About JenCap Holdings
JenCap Holdings is a premier
national specialty insurance distribution platform that includes
managing general agencies, specialty program administrators, and
transactional wholesale brokers. JenCap has assembled a management
team with the sector insight and experience to drive organic growth
and strategic acquisitions leveraging technology and advanced data
analytics. JenCap is headquartered in New
York. For more information on JenCap, visit:
http://jencapholdings.com/.
About Aran Insurance Services Group
Aran Insurance
Services Group is a multi-faceted company offering diversified
insurance and financial services to the
United States and Canadian markets. Aran specializes in both
developing and acquiring insurance underwriting facilities offering
specialty insurance products and services to the property casualty
and accident health markets. For more information on Aran, visit:
https://www.araninsurance.com/.
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SOURCE JenCap Holdings LLC