Anova Marine Insurance

What Anova Marine Insurance does

Anova Marine Insurance is a specialty marine and logistics insurance managing general agent (MGA) and Lloyd's Coverholder founded in 2011 in Miami, Florida. The company underwrites and distributes cargo, liability, and surety bond products tailored to freight forwarders, Non-Vessel Operating Common Carriers (NVOCCs), third-party logistics providers (3PLs), motor carriers, and importers/exporters across the Americas. Its three core product lines are annual cargo insurance (ICC PLUS, TOTAL LOSS PLUS, Stock Throughput), all-in-one freight liability packages, and OTI/Customs bonds (including the unique BondASSIST offering for smaller operators without personal guarantees). The company operates a proprietary cloud-based portal enabling 24/7 online quoting, certificate issuance, amendments, and claims tracking, and holds delegated underwriting authority from Lloyd's, AIG, TT Club, The Hartford, and Chaucer Insurance Company, with limits up to $25M ($50M within 24 hours) and special-concept cargo coverage up to $100M per transit. Its go-to-market is a hybrid of direct sales through a multilingual broker network spanning the U.S., Mexico, Argentina, and Central America, combined with self-service digital onboarding via the portal.

The business is now a wholly owned subsidiary of Specialty Program Group (SPG), which acquired Anova in 2025 and in early 2026 merged it with Logistiq Insurance Solutions to form a unified marine and transportation insurance platform. Anova's economics are that of an MGA/coverholder: it collects premiums on behalf of capacity providers, retains commissions and profit share, and handles claims in-house rather than through third-party administrators. As of 2021, the company had grown to roughly 25 staff globally and had underwritten more than $5bn USD of cargo in a single calendar year, up from $500M in its first year of operation. The legal entity is incorporated in England and Wales, with operational headquarters relocated to Pembroke Pines, Florida in 2019.

Name

Anova Marine Insurance

Legal name

Anova Marine

Website

https://anovamarine.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Anova Marine Insurance is a Lloyd's Coverholder MGA providing specialty cargo, freight liability, and bond products to freight forwarders, NVOCCs, and logistics operators across the Americas via a proprietary cloud-based underwriting platform.

Ownership category

akta.pro rank

Product category

Marine Cargo Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers and Related Activities (524), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro primary industry

Ocean Marine Insurance (Hull, Cargo & Freight) (FSAJAHAA)

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Motor Truck Cargo & Inland Marine (Goods-in-Transit) (TLABANAD), Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB)

Keywords

• Marine cargo insurance
• Freight forwarding insurance
• Logistics liability coverage
• Customs and OTI bonds
• Stock throughput insurance

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Cargo Insurance Premiums: Annual cargo coverage policies including ICC PLUS and TOTAL LOSS PLUS options, providing all-risks and named-perils coverage for ocean and domestic cargo with reinsurance through stock throughput programs
2. Shipper's Interest and Forwarder Cargo: Individual coverage for specific shipments including multi-million dollar cargo projects, with pay-as-you-go pricing model
3. Liability Insurance: Annual liability coverage packages combining freight liability, E&O, cargo liability, warehouse, motor truck cargo, general liability, cyber liability, and legal defense in single policies
4. OTI and Customs Bonds: Bond solutions including Ocean Transport Intermediary Bonds and Customs Bonds, with BondASSIST option for smaller companies

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Anova Marine Insurance is a specialty marine insurance managing general agent (MGA) and Lloyd's Coverholder that underwrites cargo insurance, freight liability coverage, and customs/OTI bonds for freight forwarders, NVOCCs, importers, exporters, and logistics operators. Policies are issued and serviced through a proprietary cloud-based platform providing 24/7 quote, certificate issuance, online amendments, and claims access with an in-house claims team. Underwriting authority is delegated by Lloyd's, AIG, TT Club, The Hartford, and Chaucer Insurance Company, supporting both annual coverage and pay-as-you-go per-shipment protection.

Product overview

Anova Marine Insurance is a premier provider of cargo and logistics insurance offering a comprehensive suite of products through its proprietary cloud-based platform. The portfolio includes three core product lines: Cargo Insurance (annual coverage with ICC PLUS, TOTAL LOSS PLUS, and Stock Throughput options), Liability Insurance (all-in-one freight liability packages for freight forwarders, NVOCCs, brokers, and warehousemen), and Bonds (OTI Bonds, Customs Bonds, and the unique BondASSIST option). The company operates as a Lloyd's Coverholder with underwriting authority and partnerships with AIG, TT Club, and The Hartford. All products are accessible through a cloud-based portal offering immediate coverage, 24/7 availability, and digital claims processing.

Differentiator

Problem solved

Functional benefit

Products and services

• ANOVA Cargo Insurance

Quantifiable outcome

• 98% Claims paid rate with 'if it's gray, we pay' philosophy
• +4 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, strategic and minor.

• Lloyd's of LondoncoreStrategic or Co-development Partner · 1 January 2016ANOVA is a direct Underwriting Agent and Claims Handling Agent for certain Underwriters at Lloyd's. Their proprietary forms and policies are authorized for marine liability insurance, cargo insurance, and reinsurance around the world. Appointed as Lloyd's Coverholder in 2016.
• AIGcoreStrategic or Co-development PartnerANOVA holds significant underwriting and claims authority for cargo insurance programs throughout the Americas, with ability to write special concept cargo coverage including the ANOVA Yacht Program, Project Cargo, and high-value shipments to $100m USD per transit.
• TT ClubcoreStrategic or Co-development PartnerANOVA is the only company in the world selected to carry the TT Club Underwriting Partner badge, permitting them to act as Underwriting Agent for TT Club's TLC Marine Liability package policies and proprietary Cargo Insurance.
• The HartfordstrategicStrategic or Co-development PartnerANOVA is appointed to write business with The Hartford (formerly Navigators) and can accommodate annual cargo policies for importers and exporters along with access to specialist expertise.
• Chaucer Insurance CompanystrategicStrategic or Co-development PartnerANOVA underwrites on behalf of Chaucer Insurance Company for certain liability coverage lines.
• ALACATminorStrategic or Co-development PartnerANOVA is a Socio Adherente (Trustee Partner) of ALACAT, the pre-eminent association of logistics and freight forwarding associations in Latin America and the Caribbean. Committed to serving ALACAT's member organizations.
• FCBFminorStrategic or Co-development PartnerANOVA has been a member of FCBF for many years and regularly attends and sponsors conferences and events.

Scale indicators9 records

Recent moves5 records

Expansion highlights6 records

Broad incumbents

• AXA XL (Marine): Global specialty (re)insurer with a substantial Marine cargo and liability practice serving logistics operators worldwide. Overlaps with Anova on ocean cargo, stock throughput, and freight liability but as part of a much broader specialty portfolio rather than a marine-focused MGA.
• Liberty Specialty Markets: Global specialty insurer within Liberty Mutual with a Marine practice covering cargo, freight liability, and logistics risks across the Americas, Europe, and Asia. Comparable product breadth for logistics operators but as part of a diversified specialty carrier.
• Travelers Marine: Major US P&C carrier with a dedicated Ocean Marine and Global Logistics practice covering cargo, freight liability, and warehouse legal liability. Comparable product set but a much larger, diversified insurer serving enterprise accounts.
• Allianz Global Corporate & Specialty: Global corporate insurer offering Ocean Marine, cargo, and logistics liability as part of its specialty portfolio. Broad incumbent serving multinational freight and logistics clients.
• Chubb Marine: Global P&C carrier with Ocean Marine cargo and logistics liability capabilities distributed through brokers. Overlaps with Anova on ocean cargo and freight forwarder coverage but as part of a much broader commercial portfolio.

Direct peers

• Beazley: Specialty insurer with marine, cargo, and logistics liability capabilities distributed through brokers. Comparable specialty underwriting approach with delegated authority programs, though with a broader portfolio across professional lines and cyber.
• TT Club: The transport and logistics industry mutual insurer providing liability and cargo cover to freight forwarders, NVOCCs, and logistics operators globally. Direct peer as Anova acts as TT Club's exclusive Underwriting Partner for TLC Marine Liability and proprietary Cargo products in the Americas.
• Roanoke Trade Services: Specialty insurance broker and MGA focused exclusively on logistics, cargo, and trade-related insurance products for freight forwarders and customs brokers. Highly comparable niche MGA serving overlapping customer segments with cargo, bonds, and liability products.
• Markel International: Specialty insurer with a Marine and Energy practice writing cargo, liability, and logistics coverage for SMEs and mid-market accounts. Directly comparable in targeting specialty marine risks with bespoke underwriting authority.

Emerging players

• CFC Underwriting: Tech-forward specialty MGA writing cargo, logistics liability, and emerging risks on delegated paper. Comparable cloud-based distribution model and broker-led GTM, focused on SME and mid-market accounts.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/AnovaMarine
• Facebookfacebook.com/AnovaMarine

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Anova Marine Insurance