Liberty acquires surety operations of AmTrust
Liberty Mutual Insurance announced the completion of the acquisition of the business and operations of AmTrust Surety, the US surety operations of AmTrust Financial Services, Inc., following satisfaction of customary closing conditions. The AmTrust Insurance Spain, Nationale Borg, and Nationale Borg Reinsurance portion of the acquisition is expected to close in the second half of 2019.
“Completing the acquisition of the US operations of AmTrust Surety enhances our strong US surety expertise and market leadership, and allows us to better serve our valued US distribution partners and customers,” noted Tim Mikolajewski, president, Global Surety, Liberty Mutual. “When the full scope of the acquisition is complete later this year, it will provide us with an expanded geographic footprint and further strengthen our best-in-class operation.”