Dutch-headquartered specialty insurance business ANV Holdings has acquired Jubilee Managing Agency and integrated it with its Lloyd's managing agency operations, ANV Syndicate Management.
Under the terms of the agreement, ANV will own 80% of ownership in ASML and RSG will own the remaining 20%. ANV was established by R Matthew Fairfield, and Ryan Specialty Group.
The new business will operate as ANV Syndicates and will manage ANV Syndicate 1861 and Jubilee Syndicates 5820 and 779, effective immediately.
Furthermore, ASML will also continue to manage Apollo’s Syndicate 1969.
ANV founder and CEO R Matthew Fairfield said, "We entered into this transaction with the highest expectations for a much stronger combined operation within the London market."
"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," Fairfield added.
With offices in Hong Kong, Milan, Barcelona, London, Rio de Janeiro and New Jersey, ANV delivers underwriting for specialty risk solutions for global organizations both as a MGA as well as a risk-bearing insurer.