AmTrust Financial Services News

Arca Capital Backs Icahn in Trying to Stop AmTrust Privatization Plan

The Prague-based investment firm Arca Capital said it plans to work with activist investor Carl Icahn and other minority shareholders to prevent a proposed privatization of AmTrust Financial Services Inc. Arca Capital owns approximately 2.4 percent of outstanding shares of …

What A.M. Best Thinks of AmTrust’s Plan to Go Private, Sell Some Fee-Based Business

A.M. Best, which placed the ratings of AmTrust Financial Services under review with negative implications last November, says it is still reviewing the impact of the company’s plans to sell some of its fee business and take the insurer private …

AmTrust Weighs Going Private with Stone Point Capital, CEO Zyskind

A bid is afoot to take AmTrust Financial Services private. Stone Point Capital Partners, along with AmTrust Chairman and CEO Barry Zyskind and Director George Karfunkel (and his wife, Leah Karfunkel), have proposed to acquire all outstanding shares of AmTrust …

AmTrust Selling Stake in Certain Units to Raise $950M

AmTrust Financial Services will make about $950 million by selling a majority equity interest in some of its U.S.-based fee businesses including managing general agencies and warranty third-party administrators to private equity firm Madison Dearborn Partners (MDP). Barry Zyzkind, AmTrust’s …

Planned Sale of Israel’s Phoenix Holdings to China’s Yango Is Scrapped

Israeli energy conglomerate Delek said its planned sale of a controlling stake in Israeli insurer Phoenix Holdings to China’s Fujian Yango Group has been called off by both sides after it failed to secure regulatory approval. It did not give …

AmTrust Denies Knowledge of FBI Accounting Probe; Touts New Financial Team

AmTrust Financial saw its stock price plunge nearly 19 percent Tuesday following a Wall Street Journal report alleging a 2014 FBI investigation of its accounting practices. The New York-based insurance company denied knowledge of any investigation and has tried to …

BTIS Announces Launch of New Direct Bill Option for Victory Contractor General Liability

Rocklin, CA, January 13, 2017- Builders & Tradesmen’s Insurance Services, Inc. (BTIS) is pleased to announce the launch of BTIS DirectPay, the direct bill option for Victory Contractor General Liability. “We’ve been committed to helping our producers serve the small …

AmTrust Buys ANV Holdings for $203M – More Than Doubling Its Lloyd’s Presence

AmTrust Financial Services Inc. announced it has completed the acquisition of ANV Holdings B.V. and its affiliates from Ontario Teachers’ Pension Plan for approximately $203 million in cash. During the last 12 months ending September 30, 2016, ANV’s three managed …

AmTrust Acquires Total Program Management in New York

AmTrust Financial Services Inc. announced that it has acquired Total Program Management LLC in Ronkonkoma, New York, for cash. Terms of the transaction were not disclosed. Founded in 2005, Total Program Management is a managing general agency focused on programs …

Arbiter Dismissed in Latest Twist in AmTrust Bribery Case Against Italian Broker

An arbitrator in Milan was removed by an Italian judge on concerns he couldn’t be impartial after AmTrust Financial Services Inc. sued him, claiming he’d been bribed to force the U.S. company to pay hundreds of millions of dollars to …