JenCap Holdings LLC (JCH), a specialty insurance business, has agreed to acquire privately-held Genesee General, a managing general agency, program administrator and wholesale insurance broker based in Alpharetta, Ga. The transaction is expected to close in January 2018. Financial terms were not disclosed.
Genesee General was founded in 1982 and has been led by Roger Ware since 1998. It specializes in commercial insurance products for the excess and surplus lines industry as well as servicing the catastrophe and program business markets.
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 Genesee General is the seventh transaction by JCH since its founding, and places the company among the largest wholesale brokers in the U.S.
JenCap Holdings is a national specialty insurance distribution platform that includes program management businesses, managing general agencies, specialty program underwriters and transactional wholesale brokers. JenCap Holdings is headquartered in New York.
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