ATLANTA, Ga., Dec. 3, 2018 (SEND2PRESS NEWSWIRE) — JenCap Holdings LLC (JCH), a specialty insurance business, announced today that it has agreed to acquire privately-held Risk Innovations LLC, a specialty wholesale insurance broker based in Atlanta, Georgia. Financial terms were not disclosed.
“Risk Innovations has specialized in worker’s compensation since its inception and was a strategic target for JenCap,” commented John F. Jennings, President and Chief Executive Officer of JCH. “Bruce Peddle and his team have built one of the few highly successful wholesale distribution platforms for worker’s compensation and we are excited to help them expand that operation within JenCap.”
Risk Innovations was founded in 2002 and has been led by Bruce Peddle since then.
JenCap Holdings (JCH) was formed in March 2016 by global alternative asset manager The Carlyle Group and JCH management to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers. The acquisition of Risk Innovations is the eighth transaction by JCH since its founding, and places the company among the largest wholesale brokers in the U.S.
Bruce Peddle, President of Risk Innovations stated, “We are very excited about the opportunities that the strategic partnership with JenCap will provide. By utilizing established JenCap divisions, carriers and agency partners, Risk Innovations will further expand our programs, markets and capabilities nationwide.”
Marsh, Berry & Company, Inc. served as financial advisors to Risk Innovations.
About JenCap Holdings LLC:
JenCap Holdings is a premier national specialty insurance distribution platform that includes program management businesses, managing general agencies, specialty program underwriters and transactional wholesale brokers. JenCap Holdings 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 Holdings is headquartered in New York.
About Risk Innovations, LLC:
Risk Innovations is a specialty wholesale insurance broker based in Atlanta, Georgia with another office located in Kansas City, Mo. Risk Innovations was founded in 2002 and is one of the premier worker’s compensation insurance distribution platforms in the country.
For more information on JenCap, visit: http://jencapholdings.com/
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News Source: JenCap Holdings LLC