ANV Global Services Ltd., the managing general underwriter (MGU) segment of specialty insurance group ANV Holdings, announced an increase in its Lloyd’s underwriting capacity for mergers and acquisitions insurance.
The increased line offers a limit of €30 million ($32.7 million) and $30 million per risk, up by 10 million of each currency unit since the beginning of 2015. Sterling coverage is available at a maximum line of £20 million ($27.8 million).
The company’s Barcelona and London based M&A team focuses primarily on tailor-made warranties & indemnities insurance for commercial and financial clients across the European and UK markets.
“I am very pleased that a new capacity partner has chosen to support our growing M&A insurance business. An increased line size allows ANV to offer greater insurance protection for our clients, particularly those engaging in mid-sized and large transactions,” said Thomas M. Mannsdorfer, director, M&A Insurance, ANV Global Services Ltd., which is based in Barcelona.
The capacity announcement follows the endorsement of ANV Global Services M&A insurance by additional Lloyd’s partners, the company said in a statement.
The MGU has a panel of four supporting syndicates providing “A” rated Lloyd’s capacity (A.M. Best: A; Standard & Poor’s: A+ and Fitch: AA-). ANV Syndicate 1861 continues to provide the majority share of capacity under the MGU’s Lloyd’s Binding Authority.
Lloyd’s is licensed to underwrite business in over 200 countries and territories and does this in full compliance with local laws and regulatory requirements.
Source: ANV Global Services