Reinsurance News
AmTrust
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
Adam Karkowsky named new EVP & CFO, AmTrust Financial Services
5th June 2017
Adam Karkowsky has been appointed Executive Vice President (EVP) and Chief Financial Officer (CFO) of AmTrust Financial Services, Inc., replacing Ronald Pipoly, Jr. Karkowsky joined AmTrust in 2011 and most recently served as EVP, Strategic Development and Mergers & Acquisitions. He will be based in the firm's New York office, and his appointment ... Read the full article
AMTrust appoints Underwriting Director of ANV Global Services
22nd February 2017
North American Managing General Underwriter (MGU), ANV Global Services, owned by multinational insurance and reinsurance group AmTrust Financial Services, has appointed James Pittinger to the role of Underwriting Director, effective immediately. In his New Jersey-based role, Pittinger will be responsible for the North American MGU business, Management Liability and Professional Lines ... Read the full article
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