AmTrust Financial Services, Inc. Subsidiary Acquires All Issued And Outstanding Stock Of IGI Group, Inc.
AmTrust Financial Services, Inc. (Nasdaq:AFSI) announced today that, through a subsidiary, it had acquired all the issued and outstanding stock of IGI Group, Ltd., a United Kingdom specialty insurer.
IGI has over thirty years experience in writing a range of specialty products such as extended warranty, commercial packages, and legal expense coverage. The Group includes, among others, a United Kingdom insurance company, a warranty administration company and insurance brokerage.
Max Caviet, head of AmTrust specialty risk and warranty operations in Europe, stated, “The acquisition of IGI Group will allow us to market AmTrust products on a wider basis. IGI has a network of brokers throughout the United Kingdom. Additionally, IGI’s proven experience in administration, claims handling, and broker relationships should be of great value to us.”
Barry Zyskind, CEO of AmTrust Financial Services, Inc., stated, “We believe that the acquisition of IGI will enable us to continue to expand our specialty risk and extended warranty business in Europe by adding new products and distribution channels.”
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