Specialty Program Group Enhances Marine Insurance Through ANOVA Acquisition

Specialty Program Group Expands Its Horizons in Marine Insurance

Specialty Program Group LLC (SPG), a prominent player in the specialty insurance sector, has made waves in the industry with its recent acquisition of ANOVA Marine Insurance Services, LLC. This strategic move allows SPG to broaden its expertise in transportation, marine, and logistics insurance while bringing innovative technology solutions into its portfolio.

Founded in 2011, ANOVA has built a reputation as a major managing general agency (MGA) focused on providing comprehensive insurance coverages tailored for the unique needs of the marine sector. Headquartered in South Florida, ANOVA specializes in areas such as cargo and logistics insurance, transportation insurance, liability insurance, and bonds. As the demand for finely tuned insurance solutions escalates, ANOVA stands poised to meet the evolving needs of freight brokers, forwarding agents, customs brokers, shipping lines, and trading firms across the Americas.

Bradford Boyd, ANOVA’s founder and president, has led the company since its inception. With decades of experience in the marine insurance landscape, Boyd promises that joining forces with SPG will facilitate faster growth while adhering to the core principles that define ANOVA's success - original underwriting, nimble claims processes, and versatile coverage solutions. Boyd's commitment to these values ensures that existing clients and partners experience no disruption despite the transition.

Strong Leadership Transition

To fuel this expansion, ANOVA has strengthened its leadership team, onboarding industry veterans who bring a wealth of experience. Andrew Voke, recognized as a leading marine insurance executive with more than 40 years in the field, will serve as Senior Advisor. His previous roles have included Head of Marine, Aviation, and Political Risks at Chaucer Syndicates, and International Head of Marine and Energy at Marsh. Voke's expertise will play a critical role in steering strategic growth and solidifying market relationships for ANOVA.

Joining Voke are Erin Boll and Anthony Clark, both seasoned underwriters set to bolster ANOVA’s underwriting team. Boll arrives with over 20 years of logistics insurance proficiency, previously serving as SVP of Logistics at DUAL North America. Her deep technical knowledge will be pivotal as ANOVA looks to enhance its underwriting strategies. Likewise, Clark, who has substantial domestic freight portfolio experience from his time as Assistant Vice President at DUAL North America, will spearhead initiatives to expand ANOVA’s U.S. footprint.

Logan Pearce, formerly Associate Counsel at Falvey Underwriting, takes the reins as Head of Claims and Recoveries. His role will involve overseeing ANOVA’s claims operations, crucial for maintaining robust customer service and satisfaction.

Commitment to Innovation

ANOVA is committed to leveraging its proprietary technology and top-tier carrier partnerships to deliver innovative insurance solutions and responsive claims handling. This acquisition not only strengthens SPG’s position in the market but also enhances its operational efficiency and resource accessibility, ultimately benefiting clients across multiple sectors.

By integrating ANOVA's advanced capabilities, SPG aims to expand its reach, providing clients and broker partners with a more extensive suite of tech-driven options. SPG has built a reputation for scaling high-performing businesses and is enthusiastic about the potential this acquisition brings.

With ANOVA continuing to function independently under its existing leadership, the transition promises to maintain a sense of continuity for their global broker network and partners. As SPG continues to pursue strategic acquisitions and strengthen services with a tech-first approach, the company is well-placed to redefine industry standards for marine insurance.

As the landscape of marine insurance evolves, the collaboration between SPG and ANOVA is set to pave the way for more agile and tech-enabled solutions. Clients can anticipate more innovative offerings and a responsive approach to their insurance needs, marking a significant chapter in the marine insurance sector.

For more information about Specialty Program Group and its services, visit SpecialtyProgramGroup.com.

For more on ANOVA Marine Insurance, visit AnovaMarine.com.