Jubilee and ANV to combine Lloyd's managing agencies
Jubilee and Dutch-headquartered specialty insurer ANV have combined their Lloyd's managing agency operations.
The deal, which will entail ANV Syndicate Management (ASML) and Jubilee Managing Agency, will see the new operation manage ANV Syndicate 1861 and Jubilee Syndicates 5820 and 779.
Ryan Specialty Group (RSG) - which acquired Jubilee in September 2011 - will own 20% of ASML while ANV will own the remaining 80%.
It is expected that the transaction will create managed capacity of more than £400m. In a statement, it was reported: "The consolidated business will benefit from greater scale, as well as
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