AmTrust Financial Services has entered into a definitive agreement with Blackstone Credit & Insurance (BXCI) to spin off certain Managing General Agencies and fee-based businesses in the U.S., U.K., and Continental Europe into a new independent company jointly backed by AmTrust and funds managed by BXCI.
The agreement includes seven AmTrust subsidiaries: ANV, Risico, Collegiate, AmTrust Nordic, Arc Legal, Qualis, and Abacus.
These businesses reportedly provide diverse risk and insurance coverages, including cyber excess and surplus, directors and officers, transaction risk insurance, professional indemnity, legal expense, mortgage and structured credit, warranty, agricultural workers’ compensation, income protection, accident and health, and residential and commercial niche property.
AmTrust said it will enter into a ten-year capacity agreement with the newly formed company, under which it will continue underwriting the existing books of business distributed through the MGAs.
The transaction is expected to close by year-end 2025, subject to customary closing conditions and regulatory approvals.
AmTrust Financial Services has entered into a definitive agreement with Blackstone Credit & Insurance (BXCI) to spin off certain Managing General
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