ANV Group Holdings, a global insurance intermediary platform, has completed its acquisition of Assured Underwriting Group, a specialist MGA providing insurance-backed financial protection products to tour operators and the wider travel sector across the UK and Europe. The transaction has received all required regulatory approvals.
ANV said the acquisition fits its strategy of backing specialist underwriting businesses operating in niche products and markets. The deal adds travel protection and financial failure products to the group’s existing credit and protection operations.
We’re pleased to officially welcome Assured Underwriting Group to ANV. AUG has built a highly respected business with deep expertise in travel protection and a strong reputation in the market.
Adam Karkowsky, chairman and chief executive officer of ANV
Karkowsky said the acquisition expands ANV’s credit and protection capabilities and provides a base for further growth across European markets.
Richard Watson, chief executive officer of Assured Underwriting Group, said the transaction marks another stage in the company’s expansion.
Joining ANV gives us the resources and support to continue that growth, while preserving the expertise, relationships and culture that have been central to our success.
Richard Watson, chief executive officer of Assured Underwriting Group
AUG has grown across the UK and Europe over the past decade while continuing to focus on specialist travel protection products and client service.
Founded in 1983 and headquartered in London, AUG is the UK’s underwriter of insurance-backed travel bonds. The business also operates in Continental Europe, including France and Germany, where it maintains local offices, and serves more than 1,600 clients across more than 10 European countries.
AUG also underwrites financial failure insurance and provides consulting services to tour operators dealing with UK and EU travel regulations. Its addition broadens ANV’s Credit & Protection segment, which already includes payment protection insurance, income protection insurance, structured credit, mortgage flow and credit default insurance.
In Sept.28, ANV has completed its acquisition of Car Care Plan from AmTrust Financial Services, expanding its Credit & Protection business in the vehicle warranty market.
Car Care Plan is a UK-based warranty managing general agent focused on motor warranties, asset protection products and after-sales services.
Founded in 1976, the company works with more than 30 automotive manufacturers and over 2,500 dealers, serving customers in about 100 countries. Its operations cover product design, underwriting, claims handling, administration and customer support.
