ANV Acquires Associated Specialty Insurance Agency

Acquisition of specialty wholesale workers’ compensation agency complements the recent acquisition of Specialty Comp Insurance Solutions

NEW YORK--(BUSINESS WIRE)--ANV Group Holdings Ltd. (“ANV” or “the Company”), a global insurance intermediary platform, has successfully completed the acquisition of Associated Specialty Insurance Agency LLC (“ASIA”), a wholesale commercial insurance agency headquartered in Springfield, Pennsylvania, focused primarily on workers’ compensation insurance.

Founded in 1994, ASIA is a specialist wholesale agency with over 30 years of experience placing workers’ compensation coverage for brokers and agents across the United States. The company has built a substantial book of stable, highly recurring premium through its trusted network of 600+ active brokers and approximately 20 carrier markets. ASIA has developed a differentiated position in placing artisan contractor risks and serves a broad base of policyholders across the United States.

The transaction follows ANV’s acquisition of Specialty Comp Insurance Solutions (“SCIS”), a monoline workers’ compensation MGA focused on middle-market employers and tough-to-place risks. Together with Risico, ANV’s California-based agricultural workers’ compensation MGA, the additions of ASIA and SCIS establish a scaled, diversified workers’ compensation platform combining wholesale distribution, risk management, and program underwriting across specialty niches including construction, transportation, manufacturing, hospitality, staffing, agriculture, and other complex, high-hazard industries.

“ASIA’s 30-year track record in workers’ compensation, deep broker relationships, and expertise in artisan contractor risks make it an ideal addition to our growing platform,” said Adam Karkowsky, Chairman and Chief Executive Officer of ANV. “With the additions of ASIA and SCIS alongside our existing Risico business, ANV has assembled a workers’ compensation platform with meaningful scale and breadth across wholesale, program, and specialty channels. We look forward to working with the ASIA team to build on this foundation.”

“We are excited to join ANV and leverage the platform’s resources, carrier relationships, and infrastructure to accelerate the next phase of ASIA’s growth,” said Frank Sorochen, Jr., Esq., Chief Executive Officer of ASIA. “ANV’s long-term perspective and entrepreneurial approach to building specialty businesses align with our vision for ASIA, and we look forward to strengthening our position as a trusted wholesale partner in the workers’ compensation market.”

Issued by Rein4ce on behalf of ANV

About ANV Group Holdings Ltd.

ANV Group Holdings Ltd. (“ANV”) is an independent, global insurance intermediary platform operating across the United States, the United Kingdom, and Europe. The company brings together a portfolio of established specialist MGAs, providing a diversified range of insurance products. For more information about ANV, visit http://www.anvinsurance.com.

About Associated Specialty Insurance Agency

Founded in 1994, Associated Specialty Insurance Agency LLC (“ASIA”) is a wholesale commercial insurance agency headquartered in Springfield, Pennsylvania. ASIA specializes in workers’ compensation insurance with deep expertise in placing artisan contractor risks. For more information, visit https://asiaworkerscomp.com.