Liberty Mutual to Acquire AmTrust’s Surety, Credit Reinsurance Business

Liberty Mutual Insurance said it has agreed to acquire the global surety and credit reinsurance operations of property/casualty insurer AmTrust Financial Services. Terms of the deal were not disclosed.

Upon closing, Liberty Mutual will acquire four AmTrust businesses: AmTrust Surety, previously managed by Insco Dico, which provides contract, commercial, and subdivision bonds primarily in the western U.S.; AmTrust Insurance Spain which offers surety bonds in Spain and Latin America; Nationale Borg which provides surety, worker disability, and home purchase bonds in the Netherlands and Belgium; and Nationale Borg Reinsurance, a global provider of surety, trade credit and political risk reinsurance.

AmTrust said the sale is part of its plan to focus on local markets, while Liberty Mutual said it is looking to grow its business in the U.S. and globally…..Read More