View this article online: https://www.insurancejournal.com/news/international/2013/12/09/313368.htm
ANV Holdings BV, the Dutch-headquartered specialty insurance business founded by CEO R. Matthew Fairfield, and Ryan Specialty Group, LLC (RSG) confirmed the successful completion of the previously announced transaction to combine their Lloyd’s managing agency operations, ANV Syndicate Management Limited (ASML) and Jubilee Managing Agency Limited.
ANV will hold 80 percent of the ownership in ASML and RSG will own the remaining 20 percent. Effective immediately, the group will operate as ANV Syndicates and will manage ANV Syndicate 1861 and Jubilee Syndicates 5820 and 779. ASML will also continue to manage Apollo’s Syndicate 1969.
“We entered into this transaction with the highest expectations for a much stronger combined operation within the London market,” Fairfield said. “Working together since the transaction was announced two months ago, these expectations have been exceeded on all levels. Culturally and professionally, we couldn’t be more pleased with how well things have come together and the clear potential for the group going forward.”
RSG’s Chairman and CEO Patrick G. Ryan added: “The ANV team has already demonstrated both its strong operational capabilities and its deep spirit of partnership within this transaction. I speak for the full Jubilee team when I say that we are looking forward to the breadth of new opportunities ahead of us as a combined operation.”
Source: ANV