Amtrust News

AmTrust, Ex-CFO to Pay $10.5M to Settle SEC Charges Of Improper Reserves Reporting

The Securities and Exchange Commission (SEC) has charged insurance company AmTrust Financial Services and Ronald E. Pipoly Jr., its former chief financial officer, with failing to disclose material facts about how the company estimated its insurance losses and reserves for …

A.M. Best Downgrades AmTrust As Insurer Prepares to Go Private

A.M. Best has downgraded its financial strength and credit ratings for insurer members of the AmTrust Group, not long after AmTrust Financial Services Inc. (AFSI) shareholders approved a $2.95 billion deal that will make it a private entity. The insurer’s …

After 78% Stock Plunge Tower to be Bought by Amtrust

Tower Group International Ltd., the insurer that plunged last year amid reserve shortfalls, arranged to get a lifeline from AmTrust Financial Services Inc. Tower will be bought for about $172.1 million, or $3 a share by a reinsurer controlled by …

King Introduces New Mobile Home and RV Park and Resort Program

San Juan Capistrano, CA, 03/04/13 – King Insurance is now the exclusive MGA for the AmTrust RV & Mobile Home Park program. The program is designed for the average to above average risk and is competitively priced. King Insurance will …

AmTrust Announces Acquisition of Sequoia Insurance Company

New York-based AmTrust Financial Services announced that it has entered into an agreement, pending regulatory approval, to acquire Sequoia Insurance Company and its subsidiaries, Sequoia Indemnity Company and Personal Express Insurance Company (“Sequoia”) for approximately $60 million. Sequoia offers a …