Dale Jenkins, the recently retired CEO of medical malpractice insurer Curi, is helping launch a Raleigh holding company that wants to buy three to five property and casualty carriers over the next decade.
Arbour National will be led by Connor Leonard as president. He’s a Wellesley, Mass. native who joined an affiliate of Raleigh-based Investors Management Corp. after earning a business degree at UNC Chapel Hill in 2011. He later joined IMC, which is a private company started by James Maynard and perhaps best known as the owner of Golden Corral, the dominant U.S. buffet restaurant chain.
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The new company will be part of IMC, where Jenkins has served on the board. He worked for 27 years at what was called Medical Mutual Insurance of North Carolina before its rebranding. One of the state’s most active civic leaders, Jenkins stepped down as Curi’s CEO in June.
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Arbour expects to invest with management of three to five P&C carriers over the next decade, Leonard says. It aims to buy companies valued at $10 million to $100 million.
“We will bring a 100 year mentality to this because IMC has been around for 50 years, while we want to buy companies that are going to benefit society and create jobs for a long time,” he says.
Leonard and his IMC colleagues have been working on the project for two years.
