SPECIAL PROMOTIONAL FEATURE
WHOLESALE BROKERS AND MGAs
Five-star growth Specialty distribution platform JenCap has been on the acquisition trail recently and continues to grow into one of the largest wholesale platforms in the US
FROM DAY one, JenCap Holdings has sought to build a national specialty distribution platform focused on providing bestin-class service with innovative solutions for independent retail brokers and agents. To accomplish this, the firm knew it would need to acquire regional firms with stellar reputations and relationships.
through carefully targeted acquisitions of regional wholesalers with strong leadership teams. Keeping those leadership teams intact is critical to JenCap’s continued growth. “The leaders of these companies fostered strong bonds and grew alongside their retail partners over the years,” Jennings says. “Losing such important relationships
“The intermediary insurance space is a people-first business … If a targeted firm’s management team had no intention of continuing with the firm, they were immediately taken off our M&A list” John Jennings, JenCap Holdings “I have always thought that there is real goodwill attached to the brand name of a quality regional wholesaler, and we continue to leverage those brand names after an acquisition,” says JenCap CEO John Jennings. JenCap saw an opportunity to build a one-of-a-kind national distribution platform
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watered down the acquisitions for a lot of our competitors. The intermediary insurance space is a people-first business … If a targeted firm’s management team had no intention of continuing with the firm, they were immediately taken off our M&A list. “ Jennings adds that JenCap’s acquisitions
have allowed the firm to add management talent and developed staff with “deep understanding of the regions in which they reside. They all understand the landscapes and nuances as to what is important for their clients. Two of our acquisitions, North Island Facilities and Genesee General, have been recognized as Five-Star Wholesale Brokers by Insurance Business America, something we are very proud of and use in our marketing material.” The leaders of those organizations, Mark Maher and Roger Ware, have become integral members of the JenCap executive management team. The best-in-class business qualities they have instilled in their respective firms’ corporate culture is reflected in their repeat five-star designations. “It all starts with building trust through transparency with our retail clients and carriers,” says Ware, president of Georgiabased Genesee General. “If you’re open and honest with your business associates, you earn their trust over time. As a managing general agent, honesty plays a vital role in building your reputation with your agents and your carriers that you underwrite for. It’s imperative that we represent the risk fairly and accurately with both honesty and integrity.” Maher, president of New York-based North Island Facilities [NIF], has a similar outlook on building strong relationships with the agents and carriers his firm represents. “Our industry is built on close personal relationships that are based on trust, which is earned over time,” Maher says. “Once that trust is earned, we then have the ability to deliver innovative solutions for the most challenging and complex risks. For over 40 years, retail agents have been relying on our firms’ solutions for some of their most challenging accounts. You don’t continually get those opportunities year after year by taking shortcuts on any side of the deal.” NIF and Genesee General aren’t the only firms to be added to JenCap’s national
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