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AmTrust

AmTrust completes $3bn go-private merger deal with Evergreen

29th November 2018

AmTrust Financial Services, Inc. has completed its previously announced $2.95 billion merger deal with Evergreen Parent L.P., which will see the company go private. Evergreen is an entity formed by private equity funds managed by Stone Point Capital LLC, together with Barry Zyskind, Chairman and Chief Executive Officer (CEO) of ... Read the full article

AmTrust gets regulatory go-ahead for Evergreen merger deal

28th November 2018

AmTrust Financial Services, Inc. has received all necessary regulatory approvals to go ahead with the completion of its previously announced merger deal with Evergreen Parent, L.P., which will see the company go private. Evergreen is an entity formed by private equity funds managed by Stone Point Capital LLC, together with Barry ... Read the full article

AmTrust at Lloyd’s appoints Lucy Forcey to North American property cat team

26th October 2018

AmTrust at Lloyd’s (ATL), the Lloyd’s operation of multinational property and casualty insurer AmTrust Financial Services, has appointed Lucy Forcey Senior Underwriter, North American Property Catastrophe Treaty, a new line of business for ATL Syndicate 1861. Forcey began her career in 2006 as an Assistant Internal Auditor for Novae Group. She ... Read the full article

Enstar & Madison Dearborn fund $350m slice of $2.5b AmTrust take-private deal

25th July 2018

Bermuda-based insurance, reinsurance and run-off specialist Enstar and private equity firm Madison Dearborn Partners are to fund a $350 million portion of the AmTrust Financial Services take-private transaction. Under the terms of the agreement, each of MDP and Enstar will participate in a portion of the previously-disclosed take-private purchase of approximately ... Read the full article

AmTrust exits marine underwriting at Lloyd’s after strategic review

25th June 2018

Insurer AmTrust is exiting its marine lines of underwriting business in order to focus on more profitable areas of its book, following a strategic review. With the Lloyd's marine book known to be under pressure and one of the lines of business that the market itself has been analysing in its ... Read the full article

AmTrust stockholders approve amended merger deal

22nd June 2018

AmTrust Financial Services has announced that its stockholders have approved its proposed merger transaction with Evergreen Parent, L.P. for the amended offer price of $14.75 per share in cash for all outstanding shares. Evergreen Parent L.P. is an entity formed by private equity funds managed by Stone Point Capital LLC, together ... Read the full article

AmTrust names Daniel Hickey as Chief Underwriting Officer

12th June 2018

AmTrust Financial Services has announced the appointment of J. Daniel Hickey as Group Chief Underwriting Officer (CUO). Hickey will now be responsible for overseeing the company’s global underwriting activities. Additionally, he will be tasked with implementing a consistent and disciplined underwriting approach that is aligned with AmTrust’s strategic objectives. He first joined AmTrust ... Read the full article

Stone Point & Karfunkel-Zyskind increase AmTrust merger offer price

7th June 2018

Stone Point Capital, the Karfunkel Family, and Barry Zyskind, Chief Executive Officer (CEO) of AmTrust Financial Services, have increased their bid for the acquisition of AmTrust Financial Services for a second time, now offering $14.75 per share in cash for all outstanding shares. This offer represents an increase of $1.25 per share, or ... Read the full article

Stone Point & Karfunkel-Zyskind Family raise offer for AmTrust

2nd March 2018

Stone Point Capital, the Karfunkel Family and Barry Zyskind Chief Executive Officer (CEO) of AmTrust Financial Services have revealed plans to acquire AmTrust Financial Services for an increased offer of $13.50 per share in cash, a premium increase of 13% compared to their previous proposal. In January, the Karfunkel-Zyskind Family had ... Read the full article

AmTrust to transfer 51% equity interest in certain U.S. fee businesses to Madison Dearborn Partners

10th November 2017

AmTrust Financial Services, inc. has entered into an agreement with Madison Dearborn Partners (MDP), which sees the former transfer 51% of its equity in certain interests in U.S.-based fee businesses to MDP, with AmTrust receiving gross cash proceeds of $950 million from the transaction. The transaction values the business at up ... Read the full article

AmTrust uses up its $400m Premia loss development reinsurance

7th November 2017

AmTrust Financial Services, Inc. said it has fully utilised the $400 million loss development reinsurance coverage that it entered into with Premia Holdings Ltd. subsidiary, Premia Reinsurance Ltd. in July. The agreement provided AmTrust with adverse net loss reserve development reinsurance protection of up to $400 million, in excess of ... Read the full article

AmTrust Financial Services reveals Q3 exposure of $40-65 m

4th October 2017

AmTrust Financial Services revealed an estimated third quarter 2017 catastrophe activity net loss exposure of between $40 and $65 million. Most of AmTrust's losses from Hurricanes Irma, Harvey, and Maria and the recent Mexico earthquake were related to contracts bound by AmTrust at Lloyd's, which has multi-event catastrophe cover for losses ... Read the full article

AmTrust announces new quota share reinsurance contract

6th September 2017

AmTrust Financial Services, Inc. has announced that it's entered into a new quota share reinsurance arrangement with multiple reinsurance companies, in order to reduce its catastrophe and non-catastrophe event exposure in relation to the operations of its subsidiary, Republic Companies, Inc. The new quota share arrangement is effective August 1st, 2017, ... Read the full article

AmTrust appoints Daniel Hickey to EVP, Business Strategy & Development

19th July 2017

AmTrust Financial Services has appointed Daniel Hickey, formerly of PartnerRe, to Executive Vice President (EVP) of Business Strategy and Business Development. In his New York-based role with AmTrust, Hickey will oversee the firm's business strategy planning, developing a global framework that reflects macro market trends and combines these with various local ... Read the full article

AmTrust enters into loss development reinsurance agreement with Premia Holdings

7th July 2017

AmTrust Financial Services, Inc. has entered into a loss development reinsurance agreement with Premia Holdings Ltd. subsidiary, Premia Reinsurance Ltd., effective June 30th, 2017. The agreement provides AmTrust with adverse net loss reserve development reinsurance protection of up to $400 million, in excess of stated net loss reserves of roughly $6.59 billion, as ... Read the full article

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