Business, Free News Articles, Insurance

Mark Maher and David Nielsen Assume Leadership Roles at JenCap Holdings LLC

NEW YORK, N.Y. -- JenCap Holdings LLC (JCH), a specialty insurance business, announced that Mark P. Maher has been promoted to Chief Operating Officer and that David Nielsen had recently joined the firm as Corporate Chief Financial Officer.

In his new role, Maher will work with the JenCap management team in developing strategic plans, managing carrier and key broker relationships, and will work with divisional business leaders to achieve an effective cross sale protocol while maintaining a high service level throughout the organization.

Most recently Maher was President of JenCap's NIF Group, a managing general agency, program manager and wholesale insurance brokerage based in New York with offices in the Northeast and West. He has been with NIF for 30 years.

Dave Nielsen has joined JCH as Corporate Chief Financial Officer and brings the firm a unique mix of operating and financial experience, operational and financial integration knowledge, and significant private equity experience.

Nielsen has spent his entire 30+ year career in the Financial Services Industry, serving as a Chief Operating Officer in Wells Fargo's wholesale business, and more recently, as Chief Financial Officer of CommunityOne Bancorp. Dave graduated with a BS in Accounting from the University of Virginia and an MBA in Finance from Darden.

John F. Jennings, President and Chief Executive Officer of JCH commented, "I am excited to have both Mark and Dave on the senior JenCap team. They bring added strength, expertise and leadership capabilities that will be essential as we continue to transform and grow our company."

About JenCap Holdings, LLC:

JenCap Holdings is a premier national specialty insurance distribution platform that includes program management businesses, managing general agencies, specialty program underwriters and transactional wholesale brokers. JenCap Holdings has assembled a management team with the sector insight and experience to drive organic growth and strategic acquisitions leveraging technology and advanced data analytics. JenCap Holdings is headquartered in New York.

For more information on JenCap, visit: http://jencapholdings.com/

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Business, Free News Articles, Insurance

NIF Group, Inc. Acquires Agency Intermediaries, Inc.

MANHASSET, N.Y. -- NIF Group, Inc., a leading wholesale broker, program administrator and managing general agency and their parent company, JenCap Holdings LLC announces that they have agreed to acquire privately held Agency Intermediaries, Inc. and A.I.I. Insurance Brokerage of Mass., Inc. (A.I.I.). Both affiliated entities serve as MGA/contract binding authorities and wholesale insurance brokerages, respectively located in Guilford, Connecticut and East Douglas, Massachusetts.

Agency Intermediaries, Inc. was formed in 1980 by Ray Connors, Sr. and Manja Connors. Erina Connors joined in 1983, focusing on the brokerage of excess & surplus Lines. Since 1998, A.I.I. has been led by Erina Connors and Julie Sonier. Agency Intermediaries, Inc. and A.I.I. Insurance Brokerage of Mass., Inc. serve independent agents in Connecticut and Massachusetts in placing excess/specialty lines business.

NIF Group, Inc. is one of the country's leading professional insurance organizations. Serving the independent agent community as a national program administrator, regional general agent, surplus lines broker and specialty insurance Intermediary, with offices located on the east and west coasts of the U.S. NIF has been serving agents & brokers since 1976; they were successfully acquired by JenCap Holdings in December of 2016.

Mark P. Maher, President of NIF Group, Inc. stated that "The Connors and Sonier families have built an exceptional brokerage firm in the same manner in which NIF was forged. A.I.I.'s long standing commitment to their clients, carriers, exceptional service and industry expertise perfectly align with our existing branches and strategic plans for growth in the Northeast."

Erina Connors, President of A.I.I. noted "NIF is a great fit for us, our people are joining a well-respected firm with plans of growth and opportunity in the future."

Through the acquisition of A.I.I., NIF now expands their footprint in the northeast with locations in Framingham, Massachusetts, East Douglas, Massachusetts, Guilford, Connecticut, and Warwick, Rhode Island.

JenCap Holdings (JCH) was formed in March 2016 by The Carlyle Group (NASDAQ:CG) and JCH management to consolidate specialty insurance distribution businesses, including managing general agents, specialty program managers transactional wholesale brokers and captive managers.

The acquisition of Agency Intermediaries, Inc. (A.I.I.) is the sixth such transaction by JCH, which is headquartered in New York, N.Y.

Learn more about NIF Group, Inc., a JenCap Holdings Company, at: http://www.nifgroup.com/

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Business, Free News Articles, Insurance

JenCap Acquires NIF Group

NEW YORK, N.Y. -- JenCap Holdings LLC announced today that it has agreed to acquire privately held NIF Group, Inc. (NIF), a managing general agency, program administrator and wholesale insurance broker based in Manhasset, New York, with six offices located on the east and west coasts of the United Sates. NIF was formed by Michael Orlando in 1976 and has grown to over $185 million in annual written premiums. Mr. Orlando, along with a management team led by NIF President Mark Maher, has built one of the largest specialty insurance distribution platforms in the country.

JenCap Holdings (JCH) was formed in March 2016 by The Carlyle Group (Nasdaq: CG) and JCH management in to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers. The acquisition of NIF is the fourth transaction by JCH since March and places the company among the largest wholesale brokers in the U.S.

"NIF was a target for JenCap from day one and we are happy to be partnering with one of the most successful independent MGA/specialty brokerage businesses in the country," commented John F. Jennings, President and Chief Executive Officer of JCH. "Michael Orlando and Mark Maher, as well as Michael P. Orlando, John Buckley, and David Vicari have built a tremendous business and we are thrilled that they have chosen JenCap to perpetuate NIF's commitment to excellence and service to their clients."

Michael Orlando stated that "We wanted a partner that felt the same way about our commitment to clients, employees and carriers and we realized early on that JenCap was the right fit."

"We are very enthusiastic about the JenCap transaction," stated Mark Maher, President of NIF. "Our thoughts on how to continue our growth matched up perfectly with the JenCap management model."

John Redett, Managing Director and Co-head of Carlyle's Global Financial Services team, commented, "NIF is exactly the type of entity we were looking to acquire when we started JenCap and we are excited that NIF's management and their entire team will be joining the company. We remain highly supportive of the JCH management team as it continues to expand its distribution network, product offerings and geographical footprint through organic growth and a disciplined yet aggressive acquisition strategy."

About JenCap Holdings Inc.

JenCap Holdings is a consolidator of specialty insurance distribution and program management businesses, including managing general agencies, specialty program underwriters, transactional wholesale brokers and captive managers. JenCap Holdings has assembled a management team with the sector insight and experience to drive organic growth and strategic acquisitions leveraging technology and advanced data analytics. JenCap Holdings is headquartered in New York.

Media Contact:
John Jennings
Of JenCap Holdings
347-338-3404

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