Ontario Teachers to sell specialty insurer ANV for $218.7 mln
Ontario Teachers' Pension Plan has agreed to sell its interest in ANV Holdings BV, a specialty insurance and reinsurance company based in London, United Kingdom. The buyer in the deal, AmTrust Financial Services Inc (Nasdaq: ASFI), has agreed to pay US$218.7 million in cash for the company. In addition, AmTrust will support ANV’s Funds at Lloyd’s, including replacing of Ontario Teachers’ participation. The deal is expected to close by the end of 2016. ANV was acquired by Ontario Teachers in 2012. The pension fund has since been the company's lead investor.
19 April 2016•2 mins read
