ANV Group Holdings announced that it has completed the acquisition of Associated Specialty Insurance Agency (ASIA), a Pennsylvania-based wholesale commercial insurance agency specializing in workers’ compensation coverage.
Headquartered in Springfield, Pennsylvania, ASIA was founded in 1994 and has spent more than three decades building a national workers’ compensation business. The company maintains relationships with more than 600 active brokers and approximately 20 carrier markets, generating a highly recurring premium base. ASIA has developed particular expertise in placing artisan contractor risks while serving policyholders across the United States.
The acquisition complements ANV’s recent purchase of Specialty Comp Insurance Solutions, a workers’ compensation managing general agent focused on middle-market employers and difficult-to-place risks. Combined with Risico, ANV’s California-based agricultural workers’ compensation MGA, the additions of ASIA and SCIS create a broader platform spanning wholesale distribution, risk management, and program underwriting.
ANV said the expanded workers’ compensation platform now provides exposure to specialty markets including construction, transportation, manufacturing, hospitality, staffing, agriculture, and other high-hazard industries.
ANV operates as an independent insurance intermediary platform with operations across the United States, the United Kingdom, and Europe. The company manages a portfolio of specialty managing general agencies and insurance businesses offering a diversified range of products.
KEY QUOTES:
“ASIA’s 30-year track record in workers’ compensation, deep broker relationships, and expertise in artisan contractor risks make it an ideal addition to our growing platform. With the additions of ASIA and SCIS alongside our existing Risico business, ANV has assembled a workers’ compensation platform with meaningful scale and breadth across wholesale, program, and specialty channels. We look forward to working with the ASIA team to build on this foundation.”
Adam Karkowsky, Chairman and Chief Executive Officer, ANV
“We are excited to join ANV and leverage the platform’s resources, carrier relationships, and infrastructure to accelerate the next phase of ASIA’s growth. ANV’s long-term perspective and entrepreneurial approach to building specialty businesses align with our vision for ASIA, and we look forward to strengthening our position as a trusted wholesale partner in the workers’ compensation market.”
Frank Sorochen Jr., Esq., Chief Executive Officer, Associated Specialty Insurance Agency
