Commercial Lines ALL IBR | Commercial Lines Commercial Lines Home |News |White Papers |Suppliers |Companies Return to: IBR Home | General Insurance | Commercial Lines Select a Insurance sector ------------------------ Commercial Lines Personal Lines Claims Insurer ------------------------ Life Insurance & Pensions ------------------------ Brokerage Underwriting London Lloyds ------------------------ Reinsurance ------------------------ Technology in Insurance Outsourcing ------------------------ Regulatory & Risk Commercial Lines News AmTrust Financial buys Mutual Insurers Holding Company IBR Staff Writer Published 16 May 2013
Multinational insurance holding company AmTrust Financial Services has purchased Mutual Insurers Holding Company (MIHC) and its subsidiary, First Nonprofit Insurance Company (FNIC).
Headquartered in Chicago, Illinois, FNIC offers low hazard insurance products to small, non-profit and government entities, and is a provider of property and casualty insurance products to non-profit organizations across the US.
The company has underwritten $70m of premiums in 27 states in 2012.
AmTrust Financial Services president and CEO Barry Zyskind said the acquisition supports the company's strategy of building its business and shareholder value.
"Backing FNIC's established non-profit customer relationships with our Company's resources provides considerable opportunity to expand in the attractive niche insurance market for non-profits,'' Zyskind added.
Headquartered in New York, AmTrust Financial Services provides specialty property and casualty insurance products, including workers' compensation, commercial automobile and general liability; extended service and warranty coverage, through its insurance carrier.
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Related Dates
2013> May
Related Industries
Financial Services> Insurance> Non-Life Insurance> Commercial Insurance
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