AmTrust News

AmTrust, Ex-CFO to Pay $10.5M to Settle SEC Charges Of Improper Reporting

The Securities and Exchange Commission (SEC) has charged insurance company AmTrust Financial Services and Ronald E. Pipoly Jr., its former chief financial officer, with failing to disclose material facts about how the company estimated its insurance losses and reserves for …

South & Western to Service AmTrust Farm/Ranch Business in Oklahoma, Texas

South & Western General Agency Inc., with offices in Addison, Texas, and Memphis, Tennessee, has reached an agreement with AmTrust to underwrite and service AmTrust’s Farm and Ranch business in Oklahoma and Texas. The effective date for the transition of …

AmTrust Promotes CFO Karkowsky to President

AmTrust Financial Services has promoted Adam Karkowsky to the role of president of AmTrust, reporting to Barry Zyskind, chairman and chief executive officer. The company said Karkowsky will continue to also serve in the role of chief financial officer of …

Canopius Completes Acquisition of AmTrust at Lloyd’s

Canopius Group announced it has completed its acquisition of AmTrust at Lloyd’s. The merger provides Canopius with significant additional underwriting expertise and a broader product offering, creating a leading Lloyd’s insurer of increased scale and enhanced relevance to its clients …

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 …