JM&A Group

Through captive reinsurance of vehicle service contracts, GAP coverage, and ancillary F&I products sold at franchised dealerships. Policyholders pay premiums at point of sale; those premiums are reserved for future claims, with the unearned premium float available for investment. The structure mirrors Berkeley Hathaway's insurance-float model — investable assets are a byproduct of underwriting discipline rather than external capital raising.

Both are divisions of JM Family Enterprises, the holding company founded by Jim Moran. Southeast Toyota Distributors holds exclusive rights to distribute Toyota vehicles to dealers in Florida, Georgia, Alabama, and the Carolinas. JM&A Group provides the F&I products those same dealers sell to customers. The parent company's integration across distribution, lending, and insurance creates a closed-loop ecosystem.

Public details are limited given the firm's private, captive structure. Based on statutory insurance reporting norms and the parent company's profile, JM&A's investment portfolio likely consists of investment-grade fixed income — corporate bonds, municipal securities, and agency-backed instruments — along with shorter-duration assets to match expected claims obligations. The firm does not publicly report its asset allocation.

There is no public record of JM&A Group making venture capital or private equity commitments. Its investable assets are primarily the bond portfolio backing insurance reserves. The parent company, JM Family Enterprises, has occasionally participated in strategic auto-tech investments, but those typically sit outside the regulated insurance subsidiary.

JM&A Group does not publicly disclose its investment committee or external manager roster. Given its regulatory status as an insurance captive, portfolio management likely follows conservative, liability-driven mandates with oversight from the parent company's treasury function and an independent board of directors.

As an insurance entity, JM&A Group is subject to state-level insurance regulation wherever its products are sold, with primary oversight likely from the Florida Office of Insurance Regulation given its Deerfield Beach domicile. State regulators monitor capital adequacy, reserve levels, and permissible investment activity. The firm does not file with the SEC.

The Jim Moran Foundation is a private philanthropic entity established by the founder with over $200 million in assets. It operates independently from JM&A Group and the broader JM Family Enterprises, focusing on education, healthcare, and economic opportunity initiatives in South Florida. Profits from the business entities support the foundation, but there is no operational overlap.