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Amtrust Financial Services Inc Enters Into Definitive Agreement To Acquire The Insco Dico Group

Wednesday, 18 Sep 2013 04:30pm EDT 

Amtrust Financial Services Inc announced that it has entered into a definitive agreement to acquire The Insco Dico Group (Insco Dico) for approximately $85 million, or $7.0 million above its tangible book value. The acquisition is to be funded through existing working capital. The Company expects the transaction to close within the next six months pending regulatory approval. Insco Dico's subsidiaries include Developers Surety and Indemnity Company and Indemnity Company of California, which offer surety insurance to developers and contractors in all 50 states. In addition, Insco Dico's subsidiary, Builders Insurance Services, markets general liability insurance policies to contractors in several western states. FBR Capital Markets & Co. served as financial advisor to AmTrust. 

Company Quote

-0.83 -1.65%
24 Oct 2014