Property/casualty insurer acquires workers comp firm
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AmTrust Financial Services Inc. has acquired workers compensation solutions firm Total Program Management L.L.C., the New York-based property/casualty insurer said Thursday.
Founded as a managing general agency in 2005, Ronkonkoma, New York-based Total Program Management was responsible for insurance premium totaling $47.1 million in 2015, AmTrust said in statement, noting that it has been the insurer for the majority of premiums written.
“The acquisition of TPM represents AmTrust’s continuing strategy to vertically integrate product distribution and expand the company’s valuable fee based businesses,” AmTrust Chairman, President and CEO Barry Zyskind said in the statement.
Meanwhile, AmTrust in April said it’s acquiring specialty insurer ANV Holdings B.V. from the Ontario Teachers’ Pension Plan for $218.7 million in cash and that it completed the acquisition of Dallas-based property/casualty insurer Republic Cos. Inc. from Delek Group Ltd. and Republic Insurance Holdings L.L.C. for $233 million.
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