MANHASSET, N.Y., Nov. 14, 2017 /PRNewswire/ -- 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. (NIF) 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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SOURCE NIF Group, Inc.