AmTrust Financial Services Inc. News

New York’s AmTrust Appoints Hickey as Group Chief Underwriting Officer

AmTrust Financial Services Inc., a multinational insurance holding company headquartered in New York City, has named J. Daniel Hickey as group chief underwriting officer. Hickey is based at AmTrust’s New York City headquarters and reports directly to Barry Zyskind, chairman …

AmTrust Signs $400M Reinsurance Agreement with Premia

Hoping to reassure stakeholders that the company is “well insulated from any potential reserve volatility in the future,” specialty insurer AmTrust Financial Services Inc. has entered into an agreement for a loss development cover with Bermuda reinsurer Premia Reinsurance Ltd. …

New York’s AmTrust Acquires AmeriHealth Casualty Insurance

AmTrust Financial Services Inc., a multinational insurance holding company headquartered in New York City, has entered into an agreement to acquire AmeriHealth Casualty Insurance Company from Independence Health Group Inc. for approximately $90 million in cash. The transaction will be …

Ratings of Pennsylvania-Based ARI Mutual Downgraded

A.M. Best has downgraded the financial strength rating to B (Fair) from B+ (Good) and the issuer credit rating to “bb” from “bbb-” of ARI Mutual Insurance Company based in Newtown, Pennsylvania. A.M. Best also has maintained the under review …

AmTrust Financial to Buy Texas-Based Insurer, Republic

AmTrust Financial Services Inc. announced that it has agreed to acquire Republic Companies Inc. and its affiliates (Republic) from Delek Group Ltd. and Republic Insurance Holdings LLC. Republic is based in Dallas. The purchase price is approximately $233 million, subject …

AmTrust to Acquire ARI Mutual Insurance in Pennsylvania

AmTrust Financial Services Inc. announced today that it has entered into a definitive agreement, pending regulatory and policyholder approval, to acquire ARI Mutual Insurance Company in Newtown, Pennsylvania, following the completion of the conversion of ARI to a stock company …

AmTrust Financial Services Completes CorePointe Insurance Acquisition

AmTrust Financial Services Inc. has completed the acquisition of Michigan-based CorePointe Insurance Co. Established in 1964, and located in Birmingham, Mich., CorePointe is a specialty property/casualty insurance company that markets commercial package insurance products primarily to automobile and motorcycle dealerships …

AmTrust Acquires New York’s Oryx Insurance Brokerage

AmTrust Financial Services Inc. announced that it has acquired privately held Oryx Insurance Brokerage Inc. from Oryx’s principals for cash. Further terms of the transaction were not disclosed. Oryx was established in 1996 as a managing general agent (MGA) and …

AmTrust Financial Services to Acquire CorePointe Insurance Co.

AmTrust Financial Services Inc. announced it has entered into a definitive agreement to acquire Birmingham, Mich.-based CorePointe Insurance Co. (CorePointe), a wholly owned subsidiary of CorePointe Group LLC. The cash transaction is subject to regulatory approval. Established in 1964 CorePointe …

AmTrust, NGH to Acquire Tower Group Renewal Rights; Tower Signs $172M Merger Deal with ACP Re

In two announcements, AmTrust Financial Services said it would acquire renewals rights for Tower Group International’s commercial lines business for $125 million, and Tower said it entered into a $172 million merger agreement with Bermuda reinsurer ACP Re Ltd. The …