Reinsurance News

Liberty Mutual completes takeover of AmTrust’s U.S. surety operations

3rd June 2019 - Author: Luke Gallin

Liberty Mutual Insurance has completed its previously announced acquisition of AmTrust Financial Services’ U.S. surety operations, AmTrust Surety, following the completion of customary closing conditions.

liberty-mutual-insurance-logoLiberty Mutual announced in April of this year that it’s acquiring the global surety and credit reinsurance operations of AmTrust Financial Services, which is comprised of four business units.

The acquisition of AmTrust Surety has now completed, and Liberty Mutual expects to complete the takeover of AmTrust Insurance Span, Nationale Borg, and Nationale Borg Reinsurance (NBRe) in the second-half of 2019, subject to regulatory approval and customary closing conditions.

Tim Mikolajewski, President, Global Surety, Liberty Mutual, commented: “Completing the acquisition of the U.S. operations of AmTrust Surety enhances our strong U.S. surety expertise and market leadership, and allows us to better serve our valued U.S. distribution partners and customers.

“When the full scope of the acquisition is complete later this year, it will provide us with an expanded geographic footprint and further strengthen our best-in-class operation.”

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