AmTrust to Acquire Unitrin Unit
AmTrust Financial Services, Inc. (Nasdaq:AFSI) announced today that it had entered into an agreement to acquire the Unitrin Business Insurance (UBI) unit of Unitrin, Inc. UBI conducts business in 30 states with a geographic emphasis in the South, Northwest and Midwest, and had total premium revenues of approximately $165 million in 2006. UBI writes commercial package coverages primarily for small businesses. Consummation of the transaction is subject to regulatory approval.
Barry Zyskind, president and CEO of AmTrust, stated, "This acquisition offers us the opportunity to obtain and develop a book of business that fits our focus on small businesses and to complement and expand the products we offer to our existing small workers' compensation and property and casualty customers."
Published on December 10, 2007
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