ANV signs MGU carrier partnership with PartnerRe
Long-term agreement will focus on European SME Financial Lines market
22 October 2015: ANV Global Services Ltd (‘ANV’), the international Managing General Underwriter segment of global speciality insurance group ANV Holdings BV, has announced a new partnership with PartnerRe Wholesale, the specialist SME-focused division of leading global reinsurer PartnerRe. The long-term partnership agreement will cover professional and financial lines including Directors & Officers (D&O) Commercial, Financial Institutions D&O, Professional Indemnity (PI), Financial Institutions PI, and Pension offerings for a broad range Small Medium Enterprises (SMEs) and the professionals who work for them.
PartnerRe Wholesale will provide ANV with access to additional capacity and full time support through a number of services including IT, marketing and claims management through the division’s innovative BindingAuthority+Plus offering.
The partnership will include ANV operating across the European SME insurance market as part of a three year commercial agreement. ANV’s appetite for new business across the European continent and knowledge of the different markets will ensure the company grows as it takes advantage of the opportunity in the SME market.
Debra McClenahan, Managing Director ANV MGU commented:
“ANV sees a significant opportunity in both the large corporate and SME spaces. We have made very good progress in growing our financial lines business in the past year, building out our European team led by Dennis Gattinger and broadening our product offering to brokers and clients. By working with PartnerRe Wholesale, we will gain the necessary support and skills to expand further into European markets with the most potential.
Marc van der Veer, General Manager of PartnerRe Wholesale added:
“We are very much looking forward to working with ANV, a business which has an established pedigree in the insurance industry. The partnership with ANV brings about the chance to both support, and to work with a specialist, multi-lingual workforce. With our additional services, ANV will be able to expand their services, and broaden their market reach.”
ANV is a global specialty insurance group, providing underwriting for specialty risk solutions for global organisations as an MGU and as a risk-bearing insurer. With Lloyd’s syndicates 1861, 5820 and 779, and offices in Barcelona, London, New Jersey and Rio de Janeiro, ANV, supported by lead investor Ontario Teacher’s Pension Plan, has built a team of leading underwriting specialists focused on providing solutions for specialty risks on a global basis. For more information, visit www.anv.eu.com.
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PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers capital markets products that include weather and credit protection to financial, industrial and service companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, multi-line and other lines in its Non-life operations, mortality, longevity and accident and health in its Life and Health operations, and alternative risk products. For the year ended December 31, 2014, total revenues were $6.5 billion. At June 30, 2015, total assets were $22.5 billion, total capital was $7.9 billion and total shareholders’ equity attributable to PartnerRe was $7.1 billion.
PartnerRe Wholesale offers Financial Lines insurance coverage tailored for SMEs, including commercial and financial institutions Professional Indemnity (PI), commercial and financial institutions Directors & Officers (D&O) and combined General Liability (GL) insurance. It operates through an international wholesale distribution network consisting of managing general agents (MGAs), brokers and insurers.