AmTrust and Blackstone Spin Off MGA Portfolio into Independent ANV Group

AmTrust Financial Services and Blackstone Credit & Insurance (BXCI) have finalized a strategic transaction to spin off AmTrust's managing general agencies (MGAs) and fee-based businesses into ANV Group Holdings Ltd., an independent company. This move follows regulatory approval and consolidates AmTrust’s MGA operations across the US, UK, and Continental Europe under ANV. The transaction includes a 10-year capacity agreement where AmTrust continues underwriting the existing MGA books through seven subsidiaries, including ANV Specialty, Risico, and Collegiate. These MGAs offer a diversified portfolio of specialty insurance products, such as cyber excess and surplus, directors and officers (D&O) coverage, transaction risk, professional indemnity, legal expense, mortgage and structured credit, and niche property insurance for residential and commercial clients. Adam Karkowsky, formerly president of AmTrust, has been appointed chairman and CEO of ANV Group Holdings, leading a leadership team with senior executives from AmTrust. The transaction aims to leverage AmTrust's global MGA platform foundation while positioning ANV to scale specialty and affinity insurance products, acquire and develop new MGAs, and innovate product offerings in the US and European markets. AmTrust retains a significant equity stake in ANV and will provide ongoing underwriting capacity, supporting ANV's growth strategy in specialty insurance. This strategic restructuring will potentially enhance ANV’s market reach and operational agility within the evolving specialty insurance sector, reflecting broader industry trends toward MGA independence and expansion through partnerships.