Insurance Brokers M&A » By The Online Investor Staff, updated Mon., May. 23, 9:57 AM
Recent mergers and acquisitions in the Insurance Brokers M&A category.
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Slide #66. 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 entered into a definitive agreement to acquire The Insco Dico Group ("Insco Dico") for approximately $85 million, or $7.0 million above its tangible book value. The acquisition is to be funded through existing working capital. The Company expects the transaction to close within the next six months pending regulatory approval.
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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