AmTrust Financial Services, Inc., a global specialty property casualty insurance company, and Blackstone Credit & Insurance (BXCI) announced the completion of a strategic transaction and the formation of ANV Group Holdings Ltd. (ANV), a new independent multinational MGA company.
AmTrust announced in September 2025 a definitive agreement with BXCI to spin off certain of AmTrust’s managed general agency and toll collection businesses in the United States, United Kingdom and continental Europe into a new independent company to be jointly supported by funds managed by AmTrust and BXCI.
AmTrust and ANV have entered into a ten-year capacity agreement under which AmTrust will continue to serve as underwriter of existing books of business offered through the MGA.
The agreement includes seven AmTrust subsidiaries: ANV Specialty, Risico, Collegiate, ANV Nordic, Arc Legal, Qualis and Abacus. The businesses offer a range of insurances including cyber excess and surplus (E&S), directors and officers (D&O), transaction risk insurance, professional indemnity, legal fees, mortgages and structured credit, warranties, agricultural workers’ compensation, income protection, accident and health (A&H) and residential and commercial niche property.
Adam Karkowsky has been named chairman and chief executive officer of ANV after nearly 15 years in leadership roles at AmTrust, where he most recently served as president.
The ANV leadership team also includes CFO Joseph Brecher (former SVP and Head of Alternative Investments at AmTrust), COO Jacob Decter (former Chief Strategy Officer of Global Fees and Head of M&A and Corporate Development at AmTrust), and MGA U.S. Head Aaron Basilius (former SVP Network at AmTrust).
Barry Zyskind, Chairman and CEO of AmTrust, said: “We are pleased to partner with Blackstone to successfully complete this transaction and further strengthen the strong foundation of this global MGA platform.
“Under Adam’s leadership, I look forward to ANV achieving new levels of profitable portfolio growth and continuing to deliver strong underwriting and service. We will continue to partner with ANV and participate in its future success through the significant equity stake we retain.”
Karkowsky added: “With deep insurance expertise and years of history launching an independent, diversified, multinational MGA platform, ANV is well-positioned to create meaningful growth and long-term value with the continued support of our partners AmTrust and Blackstone. We have a talented team in the U.S., UK and Europe to provide exceptional service to our brokers, partners and clients.”
