The NIF Group, Inc. has announced the acquisition of the affiliated entities of Agency Intermediaries, Inc. and A.I.I. Insurance Brokerage of Massachusetts. The affiliated entities, Agency Intermediaries, Inc. and A.I.I. Insurance Brokerage of Massachusetts are privately held entities that serve as MGA/contract binding authorities as well as wholesale brokerages and are based in Guilford, Connecticut and East Douglas, Massachusetts, respectively.
Acquisition marks official entry into the Massachusetts marketplace
With the acquisition of A.I.I., the NIF Group, Inc. officially enters into both the Massachusetts and the Northeast marketplace. Upon completion of the transaction, NIF will now have office locations in both Framingham and East Douglas, Massachusetts, as well as Guilford, Connecticut, and Warwick, Rhode Island.
In commenting on the acquisition, 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.”
Agency Intermediaries, Inc. was founded in 1980 by by Ray Connors, Sr. and Manja Connors. In 1983, Erina Connors joined expanding the focus of the company on the brokerage of excess & surplus Lines.
In 1998, Erina Connors took over the leadership of A.I.I along with Julie Sonier. Since then, both Agency Intermediaries, Inc. and A.I.I. Insurance Brokerage of Mass., Inc. have served the independent agents of Connecticut and Massachusetts in placing excess/specialty lines business.
NIF is a leading wholesaler broker and MGA based in New York
Founded in 1976, the NIF Group, Inc. is a leading wholesale broker, program administrator and managing general agency. It is also a surplus lines broker and specialty insurance Intermediary. The company serving independent agents across the country with offices on both the east and west coasts. In December 2016, NIF was acquired by JenCap Holdings (JCH).
More about JenCap Holdings in its own words…
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, program managers and transactional wholesale brokers.
JenCap Holdings is a consolidator of specialty insurance distribution and program management businesses, including managing general agencies, specialty program underwriters, transactional wholesale brokers and captive managers.