ANV Group Holdings Ltd., a global insurance intermediary platform, announced the completion of the 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 wholesale specialty agency with more than 30 years of experience providing workers’ compensation insurance to brokers and agents throughout the United States.
This announcement follows ANV’s recent acquisition of Specialty Comp Insurance Solutions (SCIS) from Specialty Program Group, a Texas-based managing general agent (MGA) specializing in hard-to-place single-line workers’ compensation insurance.
These transactions, together with ANV’s California-based agricultural workers’ compensation MGA Risico, create a scaled, diversified workers’ compensation platform spanning wholesale distribution, risk management and program underwriting. The platform targets specialized sectors including construction, transportation, manufacturing, hospitality, staffing, agriculture and other complex, high-hazard industries.
ANV Chairman and CEO Adam Karkowsky said: “ASIA’s 30-year track record in workers’ compensation, deep broker relationships and expertise in craftsman contractor risk make it an ideal addition to our growing platform.
“With the addition of ASIA and SCIS, along with our existing Risico business, ANV has assembled a workers’ compensation platform with meaningful scale and breadth across wholesale, project and specialty channels. We look forward to working with the ASIA team to build on this foundation.”
Frank Sorochen, Jr., Esq., CEO of ASIA, added: “We are delighted to join ANV and leverage the platform’s resources, operator relationships and infrastructure to accelerate ASIA’s next phase of growth.
“ANV’s long-term vision and entrepreneurial approach to building specialist businesses aligns with our vision for Asia and we look forward to strengthening our position as a trusted wholesale partner to the workers’ compensation market.”
