ANV launches first dual language M&A insurance policy for German Market
04 April 2016: ANV Underwriters, the international Managing General Underwriter (MGU) segment of specialty insurance group ANV Holdings, has launched a dedicated German market policy for Mergers and Acquisitions (M&A) Insurance.
The new wording is fully compliant with the German Insurance Contract Act (Versicherungsvertragsgesetz, or ‘VVG’) and is designed to address the specific needs of deal participants in the German market.
Florian Tischer, ANV M&A Insurance Underwriter and German Market specialist explains:
“Until now the German market has been employing Common Law based wordings for M&A proceedings, which have not always worked in the best interests of either the insurer or the insured.
“Germany is a strict civil law jurisdiction and German law has specific and unique requirements regarding such essential insurance factors as risk, policy periods and claims handling. With increasing numbers of deal participants being locally based, the oversight and scrutiny put on German M&A policies has increased significantly.
At the centre of this new offering from ANV are compliance and accessibility. We have responded to our client’s requirements and are the first carrier to offer a fully compliant, dual language German market offering covering straight forward M&A deal and transaction insurance.”
Thomas Mannsdorfer, Director of M&A Insurance at ANV said: “Our local market and language specific solutions are a key element of ANV’s M&A insurance offering. We aim to deliver simple and effective policies to our clients, however complex their deal requirements may be. I am very pleased to launch this new wording for our German market clients.”
ANV’s M&A Insurance business focuses primarily on bespoke warranties & indemnities insurance for commercial and financial clients across the European and UK markets. The team are based in Barcelona and London, offering local language dealings in a variety of countries, in particular those in which Lloyd’s holds a local licence or where ANV has local partners.
ANV is a global specialty insurance group, providing underwriting for specialty risk solutions for global organisations. ANV functions as a risk-bearing insurer through Lloyd’s syndicates 1861, 5820 and 779, and as an MGU and Lloyd’s Binding Authority through ANV Global Services. With 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.