Insurance Brokers M&A » By The Online Investor Staff, updated Wed., Jun. 29, 8:12 AM
Recent mergers and acquisitions in the Insurance Brokers M&A category.
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Slide #40. AmTrust Financial Services, Inc. — The Insco Dico Group
Acquirer:
AmTrust Financial Services, Inc. (AFSI)
Acquiree:
The Insco Dico Group
Details:
AmTrust Financial Services, Inc. (Nasdaq:AFSI) ("the Company") announced today that it has received final regulatory approval and completed the acquisition of The Insco Dico Group ("Insco Dico"). The $88.7 million purchase price is approximately $7.0 million above Insco Dico's tangible book value as of December 31, 2013. The transaction was funded with existing working capital.
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.
Preferreds: AFSI.PRA, AFSI.PRB, AFSI.PRD, AFSI.PRC, AFSI.PRE, AFSI.PRF
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