JenCap Holdings to Acquire Risk Innovations, a Specialty Insurance Business
Thursday, December 6th, 2018
JenCap Holdings LLC (JCH), a specialty insurance business, announced that it has agreed to acquire privately-held Risk Innovations LLC, a specialty wholesale insurance broker based in Atlanta, Georgia. Financial terms were not disclosed.
"Risk Innovations has specialized in worker's compensation since its inception and was a strategic target for JenCap," commented John F. Jennings, President and Chief Executive Officer of JCH. "Bruce Peddle and his team have built one of the few highly successful wholesale distribution platforms for worker's compensation and we are excited to help them expand that operation within JenCap."
Risk Innovations was founded in 2002 and has been led by Bruce Peddle since then.
JenCap Holdings (JCH) was formed in March 2016 by global alternative asset manager The Carlyle Group and JCH management to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers. The acquisition of Risk Innovations is the eighth transaction by JCH since its founding, and places the company among the largest wholesale brokers in the U.S.
Bruce Peddle, President of Risk Innovations stated, "We are very excited about the opportunities that the strategic partnership with JenCap will provide. By utilizing established JenCap divisions, carriers and agency partners, Risk Innovations will further expand our programs, markets and capabilities nationwide."
Marsh, Berry & Company, Inc. served as financial advisors to Risk Innovations.