The founder and CEO of ANV Holdings BV has left the company, according to an April 20 announcement from the Dutch-headquartered global specialty insurance group.

R. Matthew Fairfield issued a prepared statement included with the ANV disclosure that did not address why he is leaving, though he is reportedly departing for personal reasons.

“It has been a privilege to lead ANV to the position it has achieved today, with over $1 billion of managed premium, producing growing profits and with a re-shaped business and team to go forward to create a truly differentiated competitor,” Fairfield said. “I leave the business in good shape for my chosen successor.

ANV said that it has appointed ANV Chief of Staff Lynsey Cross as interim CEO. Gerard van Loon, ANV’s director of underwriting, will continue to lead the underwriting platform of the company’s Lloyd’s business, according to the announcement. Meanwhile, Andrew Hall has been appointed interim managing director of ANV’s Lloyd’s Managing Agency, subject to regulatory approval, ANV said.

The insurer said it is searching for a new chief executive.

Ontario Teacher’s Pension Plan is ANV’s lead investor, and the organization also issued a statement about ANV’s change in leadership.

“Teacher’s is fully committed to ANV and to achieving the company’s long-term growth potential,” said Michael Wissell, senior vice president, public entities at Ontario Teachers’ Pension Plan. “We recognize [Fairfield’s] vision and energy in establishing ANV and wish him well in his next steps.”

ANV handles underwriting involving specialty risk coverage for global organizations as a managing general underwriter and also a risk-bearing insurer. ANV pursues this work through Lloyd’s syndicates 1861, 5820 and 779, and also through offices in Barcelona, London, Rio de Janeiro, New Jersey and Kansas City.

Source: ANV Holdings