ANV Holdings BV (ANV), a Dutch-headquartered specialty insurance business, signs agreement with Tower Group International, Ltd. (Tower) for the transfer of the unearned premium reserves on its marine and energy business previously written from its New York, NY office.
As part of the transaction the team led by Messrs. Guarnera and Kaufmann will transfer from ANV to Tower in order to service the in-force policies for inland marine, off-shore energy, marine hull, cargo and liabilities currently serviced from the ANV New York office.
ANV will continue to actively grow and promote its Marine and Energy business and customers from its London offices and through ANV Syndicate 1861.
“This divestiture will enable ANV to pursue new investments in growing lines of business,” said R. Matthew Fairfield, Founder and Chief Executive Officer of ANV. “Our team is well positioned to develop new approaches to risk and insurance solutions that deliver strong profitability and address key needs for growing global markets.”
ANV and its lead investor, Ontario Teachers' Pension Plan, are building a best-in-class global specialty insurance group. ANV provides underwriting for specialty risk solutions for global organizations both as a MGA as well as a risk-bearing insurer. With offices in Hong Kong, Barcelona, London, Rio de Janeiro and New York City, ANV has built a team of leading underwriting specialists focused on providing solutions for specialty risks on a global basis.