Industry veteran Dale Jenkins has led the launch of a new insurance holding company called Arbour National, which will be dedicated to the long-term ownership of specialty property and casualty (P&C) carriers.
Jenkins, who will guide Arbour National as Chairman of the Board, recently retired as CEO of Curi, having spent 27 years with the company.
During his tenure, Jenkins helped to grow Curi from a regional medical malpractice insurance carrier into a national company with over $1 billion in assets.
Additionally, Connor Leonard will lead Arbour National full-time as President and serve on the Board. Leonard worked for a decade in both private acquisition and public market investment roles within Investors Management Corporation (IMC).
“Insurance serves an essential function in our society. It’s an enduring business that provides the coverage to allow organizations to succeed and grow,” said Jenkins. “We believe the business is all about people, and the best teams in the right environment will generate far better outcomes for employees, policyholders, communities and shareholders.”
Arbour National plans to invest in three to five specialty P&C carriers over its first ten years, initially targeting companies in the $10 million to $100 million value range.
Structured as a holding company with a permanent capital base, Arbour National will have no requirement to sell and will utilise a business model that enables each carrier to continue operating independently.
“Our goal is to create an environment where leadership teams have the resources of a larger group while maintaining the autonomy and ownership culture of an independent carrier,” said Leonard. “We want to partner with leaders who will continue running their business as co-owners while our team will support long-term strategic planning and capital allocation.”