AmTrust completes AmeriHealth Casualty deal for $93m
AmTrust Financial Services, a multinational insurance holding company headquartered in New York, has completed the acquisition of AmeriHealth Casualty Insurance Company from Independence Health Group for approximately $92.8 million in cash.
The company had first announced the deal in October 2016.
"We are very pleased to welcome AmeriHealth Casualty to the AmTrust group of commercial property and casualty companies,” said Barry Zyskind, chairman, president and CEO of AmTrust Financial Services.
"With the addition of AmeriHealth Casualty's operations serving small-to-medium-sized businesses and municipalities, we have expanded our presence as one of the largest workers’ compensation carriers in Pennsylvania and New Jersey."
AmeriHealth Casualty provides fully insured workers’ compensation insurance operating primarily in Pennsylvania and New Jersey. It generated gross written premium of approximately $116 million in 2015.
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