Global insurance intermediary platform ANV Group Holdings has agreed to acquire London-based Iris Insurance Brokers, pending regulatory approval.
The transaction positions ANV to strengthen its UK distribution capabilities while gaining a platform to launch managing general agents (MGAs), scale specialist teams and deepen access to Lloyd's insurance markets across multiple product lines.
Founded in 2000 and headquartered in London, Iris operates through three core segments designed to serve different parts of the insurance value chain.
Its most established division, Iris, acts as a Lloyd's wholesale brokerage specialising in the placement of re/insurance capacity on behalf of brokers, MGAs and Lloyd's coverholders. The second segment, Blink Intermediary Solutions, offers bespoke distribution services and insurance products to most active retail brokers in the UK.
The newest addition, Vivid Underwriters, was launched in 2025 as an MGA and team hire incubation platform. Its first MGA launched in December 2025, focusing on low-touch, high-volume business distributed through digital channels.
Adam Karkowsky, chairman and chief executive officer of ANV, described the deal as strategic.
"This is a transaction that complements ANV's existing UK business and is consistent with our long-term growth strategy," he said. "Blink will immediately strengthen our distribution capabilities across the UK. Vivid, Iris' MGA incubator, is consistent with ANV's entrepreneurial approach to launching and developing MGAs."
Meanwhile, Mark Hutley, managing director at Iris, said joining ANV represented "a compelling next phase" for the business.
"The group's long-term perspective and international MGA platform provide the right environment to scale our Lloyd's brokerage, expand Blink's distribution capabilities and accelerate the development of Vivid as an MGA incubator," Hutley said. "With the backing of ANV, we gain greater access to opportunities and capacity which will provide Iris and its various segments with accelerated growth."
The deal comes as the UK MGA sector continues to cement its position at the heart of commercial insurance placement. Michael Keating, CEO of the Managing General Agents' Association (MGAA), recently underscored the sector's trajectory.
"There isn't an MGA bubble to be burst. It is recognised as a significant model of trading, both from an insurer capital perspective but also from a broker perspective," Keating said. The MGAA now represents over £15.1 billion of underwriting capacity and more than 430 members, reflecting the sector's rapid expansion.
Industry data showed that broker priorities when selecting MGA partners now centre on responsiveness, technical expertise and the ability to place niche or emerging risks.
The acquisition comes as UK insurance M&A activity has experienced a slowdown, with major consolidators pulling back. However, private equity interest and technology-driven strategies continue to reshape deal dynamics.
Despite the quieter market in 2025, early signs point to a potential rebound in broker M&A activity in 2026.
The transaction is expected to close in Q2 2026, subject to regulatory approval.
