AmTrust Financial (AFSI) Announces Completion of $203M ANV Holdings Acquisition
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
AmTrust Financial Services, Inc. (Nasdaq: AFSI) announced that it has completed the acquisition of ANV Holdings B.V. and its affiliates (“ANV”) from Ontario Teachers’ Pension Plan for approximately $203 million in cash. During the last 12 months ending September 30, 2016, ANV’s three managed syndicates, 1861, 5820 and 779, reported gross written premium of $724.4 million. The reported gross written premium included $542.3 million underwritten by ANV for its own account and $182.1 million gross written premium managed for a fee by ANV for third party capital providers.
“We are excited to welcome ANV to AmTrust,” said AmTrust Financial Services, Inc. Chairman, President and CEO, Barry Zyskind. “We believe adding ANV’s experienced management and established reputation to AmTrust’s existing Lloyd’s operations will generate profitable growth and attractive returns for our shareholders.”
“The combined operations of ANV and AmTrust at Lloyd’s will provide AmTrust with a Lloyd’s platform that can effectively compete on a global scale,” said ANV Group CEO, Lynsey Cross. “We look forward to benefiting from AmTrust’s technical capabilities and achieving reinsurance efficiencies that should lead to profitable success for our combined operations.”
ANV is a specialty insurance company that underwrites a variety of commercial property/casualty insurance products through its three Lloyd’s syndicates and managing general underwriter. ANV has a well-established infrastructure composed of a highly skilled management team and solid underwriting capability.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teva Pharma (TEVA) Appoints New Global Generic Medicines Group CEO; FY16 Guidance Affirmed
- Acceleron (XLRN) and Celgene (CELG) Announce Updated Results from Phase 2 Studies of Luspatercept in Beta-Thalassemia
- J2 Global (JCOM), Subsidiary Announce Completion of Everyday Health (EVDY) Acquisition
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesStock Buyback, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!