ANV Holdings BV, the Dutch headquartered global specialty insurance group, has confirmed that the company’s founder, R. Matthew Fairfield is stepping down effective immediately as the Company’s Chief Executive Officer and as a member of the Board for personal reasons.
ANV’s bulletin said that while a “search for a new chief executive is underway, Lynsey Cross, ANV Chief of Staff, will serve as interim CEO, with Gerard van Loon, Director of Underwriting, continuing to lead the underwriting platform of the company’s successful Lloyd’s business. Andrew Hall is appointed interim Managing Director of ANV’s Lloyd’s Managing Agency, subject to regulatory approval.”
Fairfield said: “It has been a privilege to lead ANV to the position it has achieved today, with over $1 billion of managed premium, producing growing profits and with a re-shaped business and team to go forward to create a truly differentiated competitor. I leave the business in good shape for my chosen successor.”
His remarks were similar to some of the information and future plans he discussed with the IJ at the Reinsurance Rendezvous in Monte Carlo last year.
ANV’s lead investor is the Ontario Teachers’ Pension Plan. Michael Wissell, Senior Vice-President, Public Equities at Teachers’ said: “Teachers’ is fully committed to ANV and to achieving the company’s long-term growth potential. We recognize Matt’s vision and energy in establishing ANV and wish him well in his next steps. We look forward to continuing our strong working relationship with Lynsey Cross, Gerard van Loon, and the rest of the executive team, as we search to identify a long-term successor.”
Fairfield will be missed, as he was the prime mover in establishing ANV, and was instrumental in obtaining a major part of its financing from the Ontario Teachers’ Pension Plan. He then proceeded to build the business, establishing offices in Barcelona, where he lived, London, Rio de Janeiro, New Jersey and Kansas City.
Under his leadership ANV has built a strong team of underwriting specialists focused on providing solutions for specialty risks on a global basis, both under its own name and through Lloyd’s syndicates 1861, 5820 and 779.
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