Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



AmTrust Financial Agrees to Buy Specialty Insurance Firm

AmTrust Financial Services (NASDAQ: AFSI  ) is soon to be larger by one asset. The company announced it has signed an agreement to acquire The Insco Dico Group, a specialty insurance provider, for around $85 million in cash.

Through subsidiaries, Insco Dico offers surety insurance to real estate developers and contractors across the United States. It also provides general liability insurance to contractors in selected markets in the West. According to AmTrust, Insco Dico took in roughly $50 million worth of insurance premiums in 2012.

In the press release heralding the news, AmTrust quoted CEO Barry Zyskind as saying that the acquisition "significantly enhances the Company's presence in the domestic surety insurance market and expands our operations with new insurance products, additional distribution and unique industry expertise."

AmTrust said it will fund the transaction through its existing working capital. It expects the deal to close within six months, pending approval from the relevant regulators.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2644318, ~/Articles/ArticleHandler.aspx, 9/27/2016 6:51:33 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:00 PM
AFSI $26.14 Down -0.03 -0.11%
AmTrust Financial… CAPS Rating: ****