Reinsurance News


Liberty Mutual completes takeover of select AmTrust European businesses

3rd October 2019

Liberty Mutual Insurance has announced that it has completed the acquisition of the business and operations of certain European businesses of AmTrust Financial Services, following the satisfaction of customary closing conditions. Under the transaction, Liberty Mutual Insurance has acquired the operations of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain. Read the full article

Canopius wraps up Lloyd’s merger with AmTrust

3rd October 2019

Global specialty re/insurer Canopius Group has completed its previously-announced merger with AmTrust's Lloyd's operations. The merger between Canopius Lloyd’s Syndicate 4444 and AmTrust Syndicate 1861 was first announced back in April and will result in the establishment of a top-five Lloyd’s insurer with combined premiums of roughly £2.2 billion. It is believed ... Read the full article

AmTrust E&S launches Excess Casualty division in LA

24th September 2019

A subsidiary of AmTrust Financial Services, AmTrust E&S Insurance Services, has announced the launch of its Excess Casualty underwriting unit, based in Los Angeles (LA). The new division will expand the firm's product offerings of E&S and will write excess liability, both supported and unsupported in all 50 states, with limits ... Read the full article

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

3rd June 2019

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 announced in April of this year that it's acquiring the global surety and credit reinsurance operations of AmTrust Financial Services, which is comprised ... Read the full article

Canopius and AmTrust to merge Lloyd’s operations

18th April 2019

Canopius AG has announced the signing of a definitive sale and purchase agreement that will see its Lloyd's of London business merge with that of AmTrust at Lloyd's, subject to regulatory approval. The sale of AmTrust at Lloyd's, a division of AmTrust Financial, is expected to close in the third-quarter of ... Read the full article

Liberty Mutual acquires AmTrust’s global surety and credit reinsurance operations

15th April 2019

Liberty Mutual Insurance is to acquire the global surety and credit reinsurance operations of AmTrust Financial Services, Inc., subject to regulatory approvals and customary closing conditions. The definitive agreement between the two firms sees Liberty Mutual Insurance acquire four AmTrust businesses: AmTrust Surety; AmTrust Insurance Span; Nationale Borg; and Nationale Borg ... Read the full article

Enstar & Maiden agree to new ADC reinsurance deal for AmTrust business

4th March 2019

Enstar Group Limited and Maiden Holdings have entered into a new adverse development cover (ADC) reinsurance agreement that will replace the previous loss portfolio transfer (LPT) deal relating to Maiden Re’s quota share of AmTrust Financial Services. The arrangement will see an Enstar subsidiary cover Maiden Re’s quota share reinsurance contracts ... Read the full article

Enstar completes four reinsurance-to-close deals with AmTrust Syndicates

15th February 2019

Enstar Group Limited has announced that its Lloyd's of London managing agency, Syndicate 2008, has completed four reinsurance-to-close transactions for the 2016 and prior years of accounts of Syndicates 1206, 1861, 2526, and 5820, which are managed by AmTrust Syndicates Limited. According to an announcement, these transactions were completed on February ... Read the full article

AmTrust Title Insurance promotes Felice Shapiro to General Counsel role

14th February 2019

AmTrust Title Insurance Company, the title insurance subsidiary of P&C re/insurer AmTrust Financial Services, has announced the promotion of Felice K. Shapiro to the role of General Counsel for AmTrust Title and First Nationwide Title. In her new role, Shapiro will be responsible for all underwriting decisions for both AmTrust Title ... Read the full article

AmTrust adopts PCMI software for reinsurance business

25th January 2019

Property and casualty re/insurer AmTrust Financial Services has signed an agreement with Policy Claim Management International (PCMI) Corporation to use its integrated software solutions for AmTrust’s reinsurance business. AmTrust plans to implement the Policy Claim and Reporting Solutions (PCRS) - Reinsurance Module from PCMI, which it says will provide its clients ... Read the full article

AmTrust renews protection plans agreement with Microsoft

10th January 2019

AmTrust Financial Services, Inc. has renewed its extended protection services agreement with Microsoft for an additional four years. Under the terms of the renewed agreement, AmTrust will continue to underwrite and insure the Microsoft Complete protection plan program available in more than 30 countries and territories. Microsoft Complete provides customer support, breakdown ... Read the full article

AmTrust unveils new strategy & leadership team following go-private deal

9th January 2019

AmTrust Financial Services, Inc. has unveiled a new strategic plan for the company, called AmTrust Forward, as well as the layout of its new leadership team. The announcements follow the completion of AmTrust’s $3 billion go-private merger deal in November 2018, in which the insurer’s outstanding shares were acquired Stone ... Read the full article

Maiden to exit AmTrust quota share agreement, returning $700mn

4th January 2019

Maiden Holdings has agreed to a partial termination amendment to its quota share agreement with AmTrust Financial Services, which will see it return approximately $700 million in gross unearned premium. The amendment enables Maiden to exit specific lines of business in the quota share agreement, including Small Commercial Business and U.S ... Read the full article

AmTrust and Swiss Re enter into quota share on $2.9bn of U.S commercial risk

2nd January 2019

Property and casualty insurer AmTrust Financial Services has entered into a quota share agreement with Swiss Re for 2019 that covers U.S small commercial business totalling an estimated $2.9 billion in projected written premiums, with Swiss Re projected to assume approximately $1.05 billion on an inforce, new and renewal basis. The ... Read the full article

Enstar closes $200mn investment in AmTrust go-private deal

7th December 2018

Bermuda-based insurance, reinsurance and run-off specialist Enstar has closed a $200 million investment in Evergreen Parent L.P., which acquired 100% of AmTrust Financial Services, Inc. in a go-private deal last week. Enstar said that it now collectively owns around 7.4% of the capital units of Evergreen, which is an entity ... Read the full article

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