JenCap Holdings has entered an agreement to acquire specialty wholesale broker Risk Innovations.
Terms of the transaction were not disclosed.
The privately-held Risk Innovations was founded in 2002; the workers’ compensation broker has been led by Bruce Peddle since its inception. Risk Innovations has locations in Atlanta, GA and Kansas City, MO.
In total, this is JenCap’s eighth acquisition. Once closed, the transaction leaves JenCap as one of the largest wholesale brokers in the US, a release said.
“Risk Innovations has specialized in workers’ compensation since its inception and was a strategic target for JenCap,” said JenCap Holdings president and CEO John F. Jennings. “Bruce Peddle and his team have built one of the few highly successful wholesale distribution platforms for workers’ compensation and we are excited to help them expand that operation within JenCap.”
“We are very excited about the opportunities that the strategic partnership with JenCap will provide,” commented Risk Innovations president Bruce Peddle.
Peddle added that by utilizing JenCap’s divisions, carriers and agency partners, Risk Innovations can further expand its programs, markets, and capabilities nationwide.