JenCap acquires wholesaler and MGA Pacific Coast E&S Insurance Services
The MGA and wholesale broker JenCap has acquired Pacific Coast E&S Insurance Services (PCES), a specialty insurance intermediary, in a deal that expands the program underwriter’s presence in the West.
The transaction follows a major investment late last year in JenCap’s parent company Galway by the private equity firm Harvest Partners, following the merger of JenCap with retail broker Epic in June.
PCES will be integrated into JenCap’s program management business, NIF.
In a statement announcing the deal, Mark Mahler, president of NIF, said: “This acquisition aligns with our ongoing growth strategy and expands the range of products and services we offer."
PCES is based in Santa Rosa, California, and runs programs across personal lines and commercial lines.
JenCap president and CEO John Jennings said the acquisition was JenCap’s 12th since it was founded in 2016, backed by The Carlyle Group.
“This acquisition will contribute to our overall growth among the largest specialty insurance distribution platforms in the US,” Jennings said.