AmTrust News

Canopius Signs Agreement to Purchase AmTrust at Lloyd’s

Canopius AG announced it has signed a definitive sale and purchase agreement to purchase AmTrust at Lloyd’s, a division of AmTrust Financial, subject to regulatory approval. Upon completion, which is expected in Q3 2019, the deal will result in the …

Liberty Mutual to Acquire AmTrust’s Surety, Credit Reinsurance Business

Liberty Mutual Insurance said it has agreed to acquire the global surety and credit reinsurance operations of property/casualty insurer AmTrust Financial Services. Terms of the deal were not disclosed. Upon closing, Liberty Mutual will acquire four AmTrust businesses: AmTrust Surety, …

Suit Questions Maiden Holdings’ Handling of AmTrust Portfolio Risks

Maiden Holdings Ltd. is named in a class action investor lawsuit alleging that it failed to adequately address and reveal portfolio risks involving AmTrust Financial Services, its largest customer. The complaint alleges that Maiden didn’t disclose material information, and the …

AmTrust Shareholders Approve Revised $2.95 Billion Plan to Go Private

Insurer AmTrust Financial Services said that AmTrust stockholders have approved a deal for it to become a private entity, a deal that values it at $2.95 billion and was negotiated after activist investor Carl Icahn opposed a previous proposal. The …

Insurer AmTrust Unveils $2.7 Billion Plan to Go Private

As promised last month, the majority shareholders of AmTrust Financial Services Inc. have set forth a $2.7 billion plan to take the insurer private. The deal is being funded by founding family members and shareholders George and Leah Karfunkel along …

AmTrust’s TapSafe Covers All of a Consumer’s Connected Devices with a Single App

A property/casualty insurer wants consumers to be able to easily locate and protect all of their tech devices with one app rather than having a warranty or service contract for each device. Specialty insurer AmTrust Financial Services launched its new …

Karkowsky Succeeds Pipoly as AmTrust CFO

AmTrust named one of its executives focused on merger as its new chief financial officer. Adam Karkowsky has served as AmTrust’s executive vice president for Strategic Development and Mergers & Acquisitions since March 2011. He’ll replace Ronald Pipoly Jr., who …

AmTrust Gets $300M Boost from CEO’s Family

AmTrust Financial Services Inc., the provider of workers’ compensation insurance, surged in New York trading after members of the chief executive officer’s family agreed to inject $300 million for new shares in a private placement. The family of CEO Barry …

AmTrust Seeks to Boost Lloyd’s Presence with Purchase of Specialty Insurer ANV

AmTrust Financial Services said it has agreed to buy specialty insurance company ANV Holdings B.V. and its Lloyd’s affiliates for $218.7 million in cash. The seller is the Ontario Teachers’ Pension Plan. As part of the acquisition deal, AmTrust said …

AmTrust Accuses Ex-Broker Partner in Italy of Threats, Bribery, Data Theft

The box arrived at his home in Italy and, when he opened it, the insurance executive was chilled by its contents: nine bullets, one each for him, his wife and their seven children. Sent by “persons unknown,” the package is …