ANV Group to Acquire Open Lending for $372 Million in Insurance-Backed Auto Lending Push

ANV Group Holdings Ltd., a global insurance intermediary platform, has entered into a definitive agreement to acquire Open Lending Corporation (NASDAQ: LPRO), a US-based fintech specializing in insurance-backed lending enablement and risk analytics for financial institutions. The deal, announced on June 15-16, 2026, values Open Lending at $3.15 per share in an all-cash tender offer — a premium of approximately 78% to the company's 90-day volume-weighted average price as of June 15. The total equity value of the transaction is approximately $372 million.

Founded more than two decades ago, Open Lending partners with credit unions and other financial institutions across the United States to expand access to automotive financing. Its proprietary risk decision-making technology and insurance-backed credit structure — anchored by its Lenders Protection program — helps lenders manage risk, improve loan performance, and serve borrowers who would otherwise have limited access to affordable auto credit. The company has facilitated over one million auto loans since inception and is regarded as the clear market leader in its niche.

The acquirer, ANV, has an interesting lineage relevant to the deal. ANV was established in December 2025 following a strategic transaction in which AmTrust Financial Services and Blackstone Credit & Insurance spun off a portfolio of AmTrust's managing general agencies and fee-based businesses into an independent company. Notably, AmTrust has been a partner of Open Lending for over 15 years — the relationship began in August 2010 to support the Lenders Protection program, and was extended in August 2025 through 2033.

For ANV, the acquisition adds a market-leading specialty underwriting business that complements its existing segments and advances its insurance-backed credit strategy, strengthening and expanding its US footprint. The transaction follows the structure of a first-step all-cash tender offer followed by a second-step merger to acquire any remaining shares at the same price, taking Open Lending private. The deal has been unanimously approved by Open Lending's board and is expected to close in the third quarter of 2026, subject to customary closing conditions including regulatory approvals. Open Lending will continue serving its customers and distribution partners as it does today while benefiting from ANV's capital and broader platform.