Managing Agent Name: ANV Syndicates Limited                             

Subject: Disclosures Auction Season 2017

Syndicate Affected: s.5820

This statement has been prepared by ANV Syndicates Limited (ASL) for the purpose of disclosing to existing and prospective underwriting members of Syndicate 5820 (the Syndicate) information which may be of relevance to such members in considering their participation for the 2017 year of account (YOA).

Members are also referred to the Business Plan Narrative for the 2017 YOA, other SBF documents, and the Syndicate’s latest financial statements and quarterly returns, all of which have either been provided or are available to members (or their representatives as appropriate), and which include information on various changes affecting ASL and/or the Syndicate which have taken place since the end of 2015.

AmTrust Completes Acquisition of ANV Holdings B.V.

We refer to the following press release issued earlier today:

“AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company" or "AmTrust") today announced that it has completed the acquisition of ANV Holdings B.V. and its affiliates ("ANV") from Ontario Teachers' Pension Plan for approximately $203 million in cash.  During the last 12 months ending September 30, 2016, ANV's three managed syndicates, 1861, 5820 and 779, reported gross written premium of $724.4 million.  The reported gross written premium included $542.3 million underwritten by ANV for its own account and $182.1 million gross written premium managed for a fee by ANV for third party capital providers.

"We are excited to welcome ANV to AmTrust," said AmTrust Financial Services, Inc. Chairman, President and CEO, Barry Zyskind. "We believe adding ANV's experienced management and established reputation to AmTrust's existing Lloyd's operations will generate profitable growth and attractive returns for our shareholders."

"The combined operations of ANV and AmTrust at Lloyd's will provide AmTrust with a Lloyd's platform that can effectively compete on a global scale," said ANV Group CEO, Lynsey Cross. "We look forward to benefiting from AmTrust's technical capabilities and achieving reinsurance efficiencies that should lead to profitable success for our combined operations."

ANV is a specialty insurance company that underwrites a variety of commercial property/casualty insurance products through its three Lloyd's syndicates and managing general underwriter. ANV has a well-established infrastructure composed of a highly skilled management team and solid underwriting capability.”

Date issued: 07 November 2016

Contact Information

Agency contact name: Graham Luckett

Agency contact no: + 44 (0) 207 280 6218

 

For auction office use only: D2016015

DISCLAIMER: Lloyd's is not responsible for the content of any auction disclosures, and acts merely as publisher of information provided by managing agents. If you have any questions regarding the content, you should contact the relevant managing agent.

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