JenCap Holdings has agreed to acquire Aran Insurance Services Group, a specialty program administrator with a presence in Arizona, Colorado, Massachusetts, and New York.
A release noted that this is JenCap’s ninth acquisition since its founding. Once the transaction closes, it will put JenCap among the largest specialty insurance distribution platforms in the country.
Aran was founded in 2009, and is led by co-founder and chairman Tim Kenny and co-founder, president and CEO John LaCava. The firm specializes in developing and acquiring insurance underwriting facilities that offer specialty insurance products and services to the P&C and accident health markets.
“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 JenCap president and CEO John F. Jennings in a statement.
“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,” commented Kenny.
“Aran’s strategic partnership with JenCap creates a number of opportunities for growth and development,” added LaCava, who also remarked that the Aran team looks forward to expanding its programs, markets, and capabilities via JenCap’s network of carriers and agency partners.