Specialty Program Group LLC (SPG) has acquired Logistiq Insurance Solutions and will integrate the business with Anova Marine Insurance, the marine MGA it bought last year, to form a single cargo and logistics platform focused on global supply chain risk.
The move will combine Anova's ocean cargo and digital underwriting capabilities with Logistiq's domestic transportation and risk-intelligence offering, alongside the existing SPG Transportation portfolio. The combined platform aims to provide end-to-end solutions for freight forwarders, third-party logistics providers and motor carriers.
The new platform will be led by Bradford Boyd, president of Anova Marine, and Glenn Stebbings, president of Logistiq Insurance. They will jointly oversee the integrated operations. They are joined by Julian Stokes, former president of Dual Logistics, and Scott Cornell, former vice president of transportation risk and strategy at Travelers.
Stokes joined Anova in 2025 to lead non‑marine initiatives and structure complex liability programs. Cornell joined Logistiq later that year as chief risk officer to lead loss‑prevention efforts.
Boyd said the integration is intended to scale Anova’s automated underwriting technology across the wider platform while maintaining a focus on claims responsiveness and flexible coverage. Meanwhile, Stebbings said the collaboration strengthens Logistiq’s emphasis on intelligence and proactive risk management as cargo fraud and theft patterns evolve.
The integration comes amid higher cargo volumes and rising loss severity. The International Union of Marine Insurance estimates that global cargo premiums reached about $22.6 billion in 2024, the largest share of marine insurance premium worldwide, with overall marine premiums around $39.9 billion.
Cargo crime is also becoming more sophisticated. CargoNet reported that cargo theft incidents in North America reached a record 3,625 in 2024, up 27% on 2023, with an average loss of just over $202,000 per event. A 2025 update found that while incident counts stayed broadly flat, estimated theft losses rose 60% to nearly $725 million as organized groups targeted higher‑value loads.
The National Insurance Crime Bureau has warned that business email compromise, identity theft and synthetic identities are enabling criminals to pose as legitimate carriers and divert loads. Cargo theft losses were estimated at more than US$1 billion in 2023, with further increases expected.
SPG’s unified cargo and logistics operation will offer products, including all‑risk ocean and domestic cargo insurance, stock throughput and open cargo policies, logistics operator liability, licensing and surety bonds.
The deal underscores the continued growth of specialty MGAs and program platforms and the convergence of marine cargo, inland transit and logistics liability. It also reflects a shift toward pairing capacity with data and risk‑engineering capabilities in response to changing cargo theft, fraud and geopolitical risks along major freight corridors.
