ANV Group Holdings Ltd., a global insurance intermediary platform, has announced the completion of its acquisition of Associated Specialty Insurance Agency LLC (ASIA), a wholesale commercial insurance agency focused primarily on workers’ compensation insurance.
Founded in 1994 and headquartered in Springfield, Pennsylvania, ASIA is a specialist wholesale agency with more than 30 years of experience placing workers’ compensation coverage for brokers and agents across the US.
This announcement follows ANV’s recent acquisition of Specialty Comp Insurance Solutions (SCIS), a Texas-based managing general agent (MGA) specialising in tough-to-place monoline workers’ compensation insurance, from Specialty Program Group.
Together with Risico, ANV’s California-based agricultural workers’ compensation MGA, these transactions establish a scaled and diversified workers’ compensation platform spanning wholesale distribution, risk management, and program underwriting. The platform targets specialty niches including construction, transportation, manufacturing, hospitality, staffing, agriculture, and other complex, high-hazard industries.
Adam Karkowsky, Chairman and Chief Executive Officer of ANV, said, “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.”
Frank Sorochen, Jr., Esq., Chief Executive Officer of ASIA, added, “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.”
