NEW YORK, N.Y., Jul 08, 2021 (SEND2PRESS NEWSWIRE) -- Jencap Group, LLC (Jencap), the wholesale program management and binding authority business of Galway Insurance Holdings LP (Galway), has acquired London-based Worldwide Hole 'N One Ltd. (WHNO).
Through its primary brand, Worldwide Special Risks (WWSR), WHNO has operated as a Lloyd's coverholder underwriting agency for over 25 years. As an established leading provider, Worldwide Special Risks' contingency team service the live events market with a range of covers including cancellation, non-appearance, and event property and liability. Additional lines, to include film and media, prize indemnity and accident and health, are supplied to the UK and international retail and wholesale broker market. With an underwriting office in the Lloyd's building, cover is available to the U.K. and international clients, via exclusive binding authorities, to a number of leading insurers, including the Lloyd's market.
John Jennings, Chief Executive Officer of Jencap commented, "It is important that Jencap has operations in London, a most important marketplace for complex and specialty insurance. I've gotten to know Jon Wilkinson and his business, and can't think of a better platform or business line to start with than event and other specialty contingency products. We're excited with the prospects for underwriting and distribution of more products ahead and the benefit it will provide to our partners and clients."
Jon Wilkinson, WWSR Managing Director, added, "Everyone at Worldwide is excited about the next chapter that the Jencap acquisition delivers. The last year has seen unprecedented and ongoing disruption to the contingency market, and this new partnership will provide great stability and support. It will also enable us to enhance the products and services we offer, and provides a strong platform for additional growth."
Jencap and other Galway businesses currently provide extensive insurance products, broking and risk management services to the entertainment and sport industry. The live event market is particularly important within this niche.
"Now that we are once again able to enjoy live music, sports and other large group gatherings, we're thrilled to be part of enabling those events to take place. With Jon and his team at WWSR joining existing Jencap facilities, we will play a big part in expanding desperately needed capacity for our distribution partners and clients," said Peter Garvey, Vice Chairman of Galway.
About Jencap Group, LLC
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. With headquarters in New York, Jencap leverages its collective power, exceeding the expectations of 15,000+ independent agency partners. Visit https://jencapgroup.com/.
About Galway Holdings LLC
Galway Insurance Holdings, the holding company for EPIC Brokers & Consultants and Jencap Group, is a diversified insurance brokerage distribution platform with retail, wholesale, program administration and managing general agent capabilities. In total, Galway manages over $7 billion of insurance premiums and operates in over 100 offices serving all 50 states.
About EPIC Insurance Brokers & Consultants
EPIC Insurance Brokers & Consultants has more than 2,600 team members operating from more than 80 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs, and Private Client solutions to EPIC clients. For more information on EPIC, visit: https://epicbrokers.com/.
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News Source: Jencap Group LLC
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