Insurance Brokers M&A » By The Online Investor Staff, updated Mon., Jan. 24, 2:17 AM
Recent mergers and acquisitions in the Insurance Brokers M&A category.
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Slide #47. AmTrust Financial Services, Inc. — Sagicor Europe Limited
Acquirer:
AmTrust Financial Services, Inc. (AFSI)
Acquiree:
Sagicor Europe Limited
Details:
AmTrust Financial Services, Inc. (Nasdaq:AFSI) ("the Company") announced today that one of its wholly-owned subsidiaries has received final approval from regulators as well as Lloyd's and completed the acquisition of Sagicor Europe Limited and its wholly-owned subsidiaries (SEL), including Sagicor at Lloyd's Limited, from Sagicor Financial Corporation for approximately 56 million. The Company funded the purchase with existing working capital. Sagicor of Lloyd's Limited, is a managing agency and owner of Lloyd's property/casualty insurance syndicate 1206 with stamp capacity of 200 million and Lloyd's life insurance syndicate 44 with stamp capacity of 10 million.
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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