AmTrust Financial Services, Inc. Buyback
OLI recorded this information on 5/11/2016
AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc. (Nasdaq:AFSI) ("the Company") announced today that, in connection with the Company's amendment to its credit facility, the Company's Board of Directors approved the repurchase of an additional $150 million of the Company's outstanding common stock. This authorization augments the Company's existing stock repurchase authorization approved by the Company's Board of Directors in December 2013. The number, price, structure and timing of the repurchases, if any, will be at the Company's sole discretion and repurchases will be evaluated by the Company depending on market conditions, liquidity needs and other factors. Further, the purchases will be subject to applicable securities laws and regulations, including Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The Board of Directors may suspend, modify or terminate the repurchase program at any time without prior notice. Under this repurchase program, the Company is not obligated to repurchase any particular number of shares.
AmTrust Financial Services, through its subsidiaries, underwrites and provides property and casualty insurance products to several customer groups that are underserved within the insurance market. Co. operating segments are: Small Commercial Business, which provides workers' compensation insurance; Specialty Risk and Extended Warranty, which provides custom designed coverages, such as accidental damage plans, mechanical breakdown protection and payment protection plans; and Specialty Program, which provides workers' compensation, general liability, commercial auto liability, property coverage, excess and surplus lines programs and other specialty commercial property and casualty insurance.
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Buy (3.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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