Jencap Group Acquires Russell Bond & Co. Expands Services to Retailers in Upstate New York and the Northeast
Jencap Group LLC (Jencap), announced today that it has agreed to acquire the assets of Russell Bond & Co. (RB), a full-service specialty wholesale brokerage and managing general agency (MGA) firm. RB will operate under the auspices of the Jencap Specialty Insurance Services division. The acquisition of RB further diversifies and grows Jencap's platform as one of the country's largest MGA's, program managers and transactional wholesale brokers.
NEW YORK, Oct. 7, 2021 /PRNewswire-PRWeb/ -- Jencap Group LLC (Jencap), announced today that it has agreed to acquire the assets of Russell Bond & Co. (RB), a full-service specialty wholesale brokerage and managing general agency (MGA) firm. RB will operate under the auspices of the Jencap Specialty Insurance Services division. The acquisition of RB further diversifies and grows Jencap's platform as one of the country's largest MGA's, program managers and transactional wholesale brokers.
John F. Jennings, Chief Executive Officer of Jencap, stated, "Retailers have come to rely on Russell Bond's expertise and outstanding service in the commercial E&S space for over 70 years. This acquisition will expand our geographic footprint and our ability to provide additional resources and expertise to our client base."
RB's principal office is in Buffalo, NY and they provide MGA facilities and the brokerage of Excess & Surplus Lines to retail brokers and agents in upstate New York and the Northeast. Gary Hollederer, President of RB, commented, "Jencap's philosophy of 'better together' matches well with our principles and culture. Our group has extensive underwriting and brokerage backgrounds, and we are excited to extend our reach through Jencap."
Mark Maher, President of Jencap, stated, "The acquisition of Russell Bond brings additional depth to Jencap, aligns with our ongoing growth strategy and adds to the breadth of diversified products and services that we provide our agency partners."
About Russell Bond & Co.
Founded in 1950, RB is a full-service MGA and wholesale broker that underwrites and distributes a wide array of commercial property & casualty products for over 100 markets. RB's services include admitted and non-admitted risk offerings, specialized underwriting, claims management, online automation and financing. For more information on RB, visit: RussellBond.com.
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 15,000 independent agency partners. For more information, visit JencapGroup.com.
###
Media Contact
Kathryn Smith, Managing Director of Marketing, Jencap Group, 678-951-5183, [email protected]
SOURCE Jencap Group
Share this article