British isles hole-in-a person insurance expert Throughout the world Gap ‘N Just one (WHNO) has been acquired by New York-headquartered wholesale broker Jencap Group for an undisclosed sum.
The Lloyd’s coverholder – which is based mostly in St Albans with an underwriting office in the Lloyd’s constructing in London – started off out as a specialized niche service provider but now underwrites an array of contingency insurance policy products and solutions. WHNO’s Globally Distinctive Pitfalls (WWSR) division delivers prize insurance plan and function insurance coverage.
“Everyone at Worldwide is psyched about the up coming chapter that the Jencap acquisition delivers,” stated WWSR running director Jon Wilkinson. “The final calendar year has viewed unprecedented and ongoing disruption to the contingency current market, and this new partnership will provide fantastic stability and support.
“It will also enable us to improve the goods and providers we give, and supplies a powerful system for supplemental advancement.”
WHNO came to daily life in 1996, with an preliminary focus on delivering a hole-in-1 tournament deal to the company golfing current market. Its celebration insurance plan unit WWSR was released in 2002.
Commenting on the swoop, Jencap chief govt John Jennings said: “It is essential that Jencap has functions in London, a most significant market for complicated and specialty coverage.
“I’ve gotten to know Jon Wilkinson and his business enterprise, and can’t imagine of a improved system or business line to start out with than celebration and other specialty contingency goods. We’re energized with the prospects for underwriting and distribution of more products ahead and the gain it will deliver to our partners and purchasers.”