Atlas Financial mulls sale as it explores 'strategic alternatives'

Commercial auto insurer Atlas Financial is 'exploring strategic alternatives' including a potential sale of the company or certain assets, and has retained Sandler O'Neill + Partners as its financial advisor.

In a brief statement, the company said that it is evaluating a wide range of strategic options, including "further strengthening its processes, reviewing its capital allocation and opportunities, a potential sale of the Company or certain assets, and balance sheet strengthening".

The company is engaging industry specialists with a range of expertise, including an investment banking advisor as well as a global reinsurance intermediary, in this process.

Additionally, it has formed special committee of independent directors that will examine the conclusions and recommendations of this work and provide an update by mid-year.

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