AmTrust acquires MGA

AmTrust Financial Services, an insurance holding company, has acquired managing general agent Total Program Management (TPM).

Founded in 2005 and operating primarily in New York, TPM focuses on programmes that offer workers' compensation insurance to the health care industry. In 2015, TPM was responsible for insurance premium totalling $47.1 million.

Barry Zyskind, chairman, president and chief executive officer of AmTrust, said: "The acquisition of TPM represents AmTrust's continuing strategy to vertically integrate product distribution and expand the Company's valuable fee based businesses."

AmTrust has been the insurer for the majority of premiums written through TPM.