AmTrust buys California-based surety MGA

New York-based AmTrust Financial Services Inc. on Friday said it had acquired Contractor Managing General Insurance Agency Inc., a California-based managing general agent offering surety bonds for small to mid-sized contractors nationally.

CMGIA President Stephanie Shear will join AmTrust’s surety business along with underwriters and support staff from CMGIA, an Amtrust statement said. The CMGIA website shows about 10 employees.

Sam Zaza, president of AmTrust Surety, said in the statement that the deal allows AmTrust to establish a presence in the small to mid-size contractor surety market.