NIF Group (NIF), a national program manager and regional wholesale broker owned by Jencap Group, has reached an agreement to acquire the assets of Pacific Coast E&S Insurance Services (PCES), a specialty wholesale brokerage and managing general agent (MGA) firm based in Santa Rosa, CA.
The deal boosts Jencap’s overall growth as a specialty insurance distribution business, which includes MGAs, program managers and transactional wholesale brokers.
John F. Jennings, president and CEO at Jencap, commented on the deal: “Pacific Coast E&S Insurance Services is our 12th transaction since founding Jencap. This acquisition will contribute to our overall growth among the largest specialty insurance distribution platforms in the US.”
NIF, which was formed in 1976 and bought by Jencap in 2016, provides independent agents and brokers a broad range of specialty insurance products from its national offices. NIF president, Mark Maher, said the acquisition of PCES “aligns with [NIF’s] ongoing growth strategy and expands the range of products and services we offer.”
PCES has established expertise in the personal and commercial E&S space. It focuses on providing MGA facilities and the brokerage of E&S lines to retail brokers and agents on the West Coast and Pacific Northwest.
“Our group has significant underwriting backgrounds in both personal and commercial property and casualty products,” said Joe Bonilla, director of PCES. “We’re excited to extend our reach through NIF and Jencap.”