CORE INSURANCE, RISK MANAGEMENT
Businesswire | May 30, 2023
Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today that it has acquired Citizens General Insurance Brokers, Inc, located in Auburn, CA.
Citizens General Insurance Brokers, Inc., founded in 2011 by Philip McClendon, has created a niche for itself in the industry by providing value-based insurance solutions specifically tailored to small businesses and construction industries. Their focus on quality and swift customer care has propelled them to the forefront of the industry in a short span of time.
With the acquisition of Citizens General Insurance Brokers, Inc, Inszone has further solidified its position as a leader in the commercial insurance industry. Inszone’s capabilities and resources will enable them to provide an even better service experience to customers of Citizens General Insurance Brokers, Inc and help them manage their risks more effectively.
“At Inszone, we share Citizens General’s passion for serving customers and providing them with the best possible solutions,” said Chris Walters, CEO of Inszone Insurance Services. “We are thrilled to integrate them into the Inszone family and look forward to collaboratively reaching out to a wider demographic across various industries.”
Philip McClendon, the previous owner of Citizens General Insurance Brokers, Inc, said, “The process of the merger with Inszone has been an absolute pleasure. From the highest levels of leadership to the entire team, everyone at Inszone has been professional, supportive, and aligned with our values. Despite their rapid growth and size, Inszone maintains a warm and personable culture that resonates with our own, and it does not feel like a typical corporate environment.”
Inszone Insurance is confident that their shared vision of providing value-based insurance and quality customer care will enable them to achieve even greater success in the future.
About Inszone Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 42 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.
CORE INSURANCE, COMPLIANCE
PRnewswire | April 21, 2023
BrokerTech Ventures (BTV), the industry's first broker-led convening platform and accelerator program, today announced the addition of its newest industry-leading insurance wholesaler partner, Jencap Group.
"We could not be more pleased to announce the addition of Jencap to our wholesaler community network. We view our carrier and wholesale partners as integral in terms of our overall strategy in building out BrokerTech Ventures — and specifically, our Innovation Tower," said Dan Keough, Holmes Murphy chairman and CEO and co-CEO of BTV. "Insurance companies are individually spending multi-millions of dollars each year in innovation, and we believe that BTV can be the convening platform to provide access into the unknowns, idea-sharing, investing, and distribution for the benefit of all."
The addition of these renowned insurance brands brings the BTV industry portfolio to 13 of the most sizable and innovative brokerage firms in North America and 16 of the most notable and respected insurance companies and wholesalers with both domestic and international presence.
"Jencap is committed to employing innovative technology solutions that improve our speed to market, operational efficiencies, data analytics, and the overall platform experience of our partners," said John LaCava, Jencap's Chief Operational Officer. "We look forward to collaborating with BTV members and insurtech companies to maintain our position in the marketplace as industry leaders."
In addition to its expansive broker and carrier partner portfolio, BTV now also represents 60 insurtech startups from around the world, inclusive of those in the U.S., Israeli, and Latin American accelerator programs, with investments and commercial engagements with many.
About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures (BTV) is the first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry. Founded in 2019, BTV provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BTV invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels.
About Jencap Group
Jencap is one of the largest wholesalers in the U.S. with notable industry-leading expertise in wholesale brokerage, binding authority, and program management. Its specialized divisions and affiliate organizations provide niche underwriting prowess, broad market access, and nationwide influence. Headquartered in New York, Jencap leverages its collective power to exceed the expectations of more than 20,000 independent agency partners.
RISK MANAGEMENT, INSURANCE TECHNOLOGY
PRnewswire | March 30, 2023
Acquis, Europe's leading provider of specialist insurance programs to the asset finance market, today announced it has entered into an agreement to be acquired by NSM Insurance Group, a global leader in specialty insurance with more than $1.5B in premium across 25+ niche insurance programs. For over 30 years, NSM has specialized in investing in a broad portfolio of insurance companies in the U.S. and Europe.
Acquis went through an MBO process in 2019 when they were backed by specialist private equity investor Dunedin LLP. Subsequently, Acquis was able to accelerate its growth plans, tripling the size of its workforce, acquiring 46 customers, launching 50 additional insurance programs and increasing turnover by 47 percent within three years. This new investment will ensure Acquis is well placed to achieve its growth ambitions, expanding its solutions and services in existing and new territories.
"This investment from NSM Insurance Group marks a significant opportunity for Acquis to meet the increased demand we are witnessing for our products, and to continue to develop our market-leading insurance solutions for the asset finance market," said Nick Leader, Acquis CEO. "NSM is a perfect fit for Acquis, they understand our market and are as ambitious about our growth potential as we are. This deal will enable the continued development of our people, processes and systems and will allow us to galvanize our growth plans. NSM's confidence in Acquis is testament to the hard work and dedication of our team in building the company we are today."
Geof McKernan, CEO and Founder of NSM Insurance Group, added: "We are entrepreneurs at heart and we seize compelling opportunities to partner with high-performing companies with significant growth opportunity. We are excited to further expand in Europe and the U.S. with the acquisition of Acquis — the leader in innovative solutions for the finance and leasing industry. We look forward to partnering with Nick and his team and providing them with our state-of-the-art resources and capacity to help take their business to new heights."
The closing is subject to regulatory approvals and other customary closing conditions.
About NSM Insurance Group
NSM Insurance Group is the nation's leading specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.5 billion in premium across 25+ specialty insurance programs and brands in the U.S. and U.K. focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; medical stop-loss; staffing; and workers' compensation. For more information on NSM, visit nsminc.com.
Acquis is the largest provider of specialist insurance programs for leased equipment in Europe. Leading asset finance brands and leasing companies across 16 European countries rely on Acquis' outsourced insurance solutions to enhance their asset finance offering, deliver customer value and increase revenue. For more information, visit acquisinsurance.com