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AmTrust buys property insurer serving smaller entities


AmTrust Financial Services Inc. has purchased Mutual Insurers Holding Co. and its subsidiary, First Nonprofit Insurance Co., the companies announced Tuesday.

Chicago-based FNIC — a major property/casualty insurer for small businesses, nonprofits and governmental entities — wrote $70 million in premiums in 27 states in 2012.

Based in New York, AmTrust Financial Services is a multinational insurance holding company that offers specialty property/casualty products through its insurer subsidiaries.

Lines of coverage offered include workers compensation, commercial auto, general liability, extended service and warranty coverage.

First Nonprofit will operate under the name First Nonprofit Group. The insurer’s headquarters will continue to be in Chicago with regional and/or subsidiary operations in Phoenix and Baltimore.