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Slide #98. AmTrust Financial Services, Inc. — Car Care Plan (Holdings) Limited
AmTrust Financial Services, Inc. (AFSI)
Car Care Plan (Holdings) Limited
AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company") announced today that a wholly owned subsidiary of the Company, IGI Group Limited, completed the acquisition of Car Care Plan (Holdings) Limited ("CCPH") from Ally Insurance Holdings, Inc. ("Ally") for approximately $70 million. The purchase price represented the consolidated tangible book value of CCPH as of the closing, subject to certain adjustments. Over the next year, CCPH is projected to generate revenue for the Company in excess of $140 million including fee income of more than $30 million and pre-tax profits of over $14 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.
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Buy (3.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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