JenCap to Buy Program Administrator Aran Insurance Services.
Byline: Andrew G. Simpson
JenCap to Buy Program Administrator Aran Insurance Services
JenCap Holdings, a consolidator of specialty insurance businesses backed by The Carlyle Group, has agreed to acquire privately-held Aran Insurance Services Group, a specialty program administrator with offices in Arizona, Colorado, Massachusetts and New York.
The acquisition of Aran is the ninth transaction by JenCap since its founding in 2016.
Aran was founded in 2009 by Tim Kenny and John LaCava.
Aran Insurance Services companies include Aran Insurance Underwriters, a managing general underwriter specializing in stop loss insurance for self-funded group health; MiniCo, which offers insurance for self-storage operations, equipment breakdown coverage, fine art and collectibles insurance, agribusiness insurance, sports and activity insurance, miscellaneous professional liability insurance, and contractors liability insurance; and HRMP, a third-party administrator offering back office or run-out administration and auditing services.
New York-based JenCap was formed in March 2016 by The Carlyle Group and JenCap management to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers. Its companies include (https://www.insurancejournal.com/news/east/2016/12/08/434631.htm) NIF Group (New York), (https://www.insurancejournal.com/news/southeast/2018/12/05/511112.htm) Risk Innovations (Atlanta), (https://www.insurancejournal.com/news/midwest/2016/09/22/427258.htm) MJKelly (Missouri), (https://www.insurancejournal.com/news/east/2016/04/26/406531.htm) Wholesale Trading Insurance Services (New Jersey), (https://www.insurancejournal.com/news/midwest/2017/07/19/458063.htm) Special Risks (Michigan), Trivedi-Capacity Associates and Genesee.
"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 CEO of JenCap. "We are excited to help in the expansion of Aran and its subsidiary companies within JenCap."
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|Author:||Simpson, Andrew G.|
|Date:||Aug 21, 2019|
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