AM Trust Financial Services, a global property & casualty insurer, has acquired Contractor Managing General Insurance Agency, Inc. (CMGIA).
CMGIA is a California-based MGA that offers surety bonds to small to mid-sized contractors. The company heavily concentrates on the needs of construction professionals nationwide.
The firm is led by Stephanie Shear, a seasoned surety underwriter with over 40 years of experience.
Following the acquisition, Shear will now join AmTrust’s surety business along with several underwriters and support staff from CMGIA.
“The addition of CMGIA allows AmTrust to immediately establish a presence in the small to mid-size contractor surety market,” said Sam Zaza, President, AmTrust Surety.
“CMGIA’s underwriting talent and agent network will be a key component in the growth of our surety business.”
Shear, added: “We are excited to join the AmTrust team. CMGIA will continue to source profitable specialty business, while growing account sizes, expanding geographically, and offering best-in-class service to our agents and obligees.”
In addition, AM Trust recently acquired the middle market management liability business of DUAL North America.
