Wholesale brokerage Jencap Group has officially announced its acquisition of Foresite Sports LLC, a specialized program manager known for its expertise in prize contingency coverage and event insurance.
Following the acquisition, Foresite Sports will be integrated into the Jencap Program Administrators LLC (JPA) division to further enhance Jencap’s service offerings within the marketplace.
See LinkedIn post here.
Foresite Sports, through its US Hole In One division, has carved out a niche in providing coverage for golf events, specifically for hole-in-one and promotional contests. Additionally, its Interactive Promotions Group division offers prize indemnity insurance, while its Eventsured division focuses on special event liability and event cancellation coverage for a variety of gatherings including private, business, and sporting events, as well as other social functions.
Founded in 1998 by Greg Esterhai and James Nam, Foresite Sports also deals in the targeted marketing needs of tournaments nationwide through its products and services.
Mark Maher, president of Jencap, expressed enthusiasm about the acquisition, noting that it represents a strategic move to enhance the firm’s position in the market.
“The addition of Foresite Sports’ expertise in prize contest coverage and event insurance opens up new avenues for growth and innovation,” Maher said.
Esterhai also shared his positive outlook on joining the Jencap family, remarking that the acquisition will allow them to tap into expanded resources for better services.
“This acquisition strengthens our position in the market and reinforces our commitment to providing best-in-class coverage options tailored to the unique needs of the sports and events industry,” Esterhai said.
Jencap also recently secured prestigious industry wins, as two of its professionals made it into Insurance Business America’s top specialist wholesale insurance brokers for 2024: Anthony Manna (senior vice president) and Rick Smith, Jr (transportation leader).
What are your thoughts on this story? Please feel free to share your comments below.
