JenCap Holdings to Acquire Aran Insurance Services Group, a Specialty Insurance Business
NEW YORK — JenCap Holdings (JenCap), a specialty insurance business, announced 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.”