The insurer AmTrust Financial Services Inc. said Monday that it has completed its acquisition of Sequoia Insurance Co. for about $60 million.
AmTrust said Sequoia provides low hazard property and casualty insurance, including workers’ compensation and commercial package insurance to small businesses. It had $40 million in gross written premiums in 2012, according to AmTrust.
Sequoia offers policies in several Western states including California. Amtrust is a New York-based multinational insurance company.
Shares of New York-based AmTrust closed at $32.69 per share Friday.
Was this article valuable?
Here are more articles you may enjoy.
California’s Surplus Lines HO Market’s New Phase Driven by Access, Not Wildfire Risk 
Convicted Insurance Mogul Lindberg Should Pay $1.6B Restitution to Companies 
El Niño Set to Form by August With Rising Heat and Crop Risks 
California Drought, Wildfire Risks Grow as Snow Falls Short 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.