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United States

Profile: AmTrust Financial Services Inc (AFSI.O)

AFSI.O on Nasdaq

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Amtrust Financial Services, Inc. (AmTrust), incorporated on November 7, 1990, is an insurance holding company. The Company, through its subsidiaries, provides specialty property and casualty insurance focusing on workers' compensation and commercial package coverage for small business, specialty risk and extended warranty coverage, and property and casualty coverage for middle market business. The Company's segments include Small Commercial Business, Specialty Risk and Extended Warranty, and Specialty Program. The Company provides reinsurance, primarily on personal and commercial automotive business. The Small Commercial Business segment is engaged in providing workers' compensation, commercial package and other commercial insurance lines produced by wholesale agents, retail agents and brokers in the United States. The Specialty Risk and Extended Warranty segment is engaged in providing coverage for consumer and commercial goods and custom designed coverages. The Specialty Program segment is engaged in writing commercial insurance for defined classes of insureds through general and other wholesale agents.

The Company transacts its business primarily through over 20 insurance subsidiaries in the United States and approximately five insurance subsidiaries in Europe. The Company's domestic insurance subsidiaries include AmTrust Insurance Company of Kansas, Inc. (AICK), Associated Industries Insurance Company, Inc. (AIIC), Comp Options Insurance Company (COIC), Developers Surety and Indemnity Company (DSIC), First Nonprofit Insurance Company (FNIC), Indemnity Company of California (ICC), Milwaukee Casualty Insurance Company (MCIC), Rochdale Insurance Company (RIC), Sequoia Insurance Company (SIC), Sequoia Indemnity Company (SID), Security National Insurance Company (SNIC), Technology Insurance Company, Inc., (TIC) and Wesco Insurance Company (WIC). The Company's foreign insurance subsidiaries include AmTrust International Insurance Ltd. (AII), AmTrust International Underwriters Limited (AIU), AmTrust Europe, Ltd. (AEL) and Motors Insurance Company Ltd. (MIC).

Small Commercial Business

The Small Commercial Business segment provides workers' compensation to small businesses that operate in low and medium hazard classes, and commercial package and other property and casualty insurance products to small businesses. The Company is authorized to write its Small Commercial Business products in over 50 states. The Company distributes its policies through a network of over 8,000 select retail and wholesale agents. Workers' compensation insurance provides coverage for the statutory obligations of employers to pay medical care expenses and lost wages for employees injured in the course of their employment. Commercial package products provide a range of insurance to small businesses, including commercial property, general liability, inland marine, automobile, workers' compensation and umbrella coverage. The Company maintains Small Commercial Business property and casualty claims operations in several of its domestic offices.

Specialty Risk and Extended Warranty

The Specialty Risk and Extended Warranty segment is engaged in providing custom designed coverages, such as accidental damage plans and payment protection plans offered in connection with the sale of consumer and commercial goods in the United States and Europe, and certain property, casualty and specialty liability risks in the United States and Europe, including general liability, employers' liability and professional and medical liability. The segment owns Lloyd's Limited's (Lloyd's) property and casualty insurance syndicates that focus on general insurance, and provides access to Lloyd's underwriting platform for small brokers. Its specialty risk business covers legal expenses in the event of unsuccessful litigation; property damage for residential properties; home emergency repairs caused by incidents affecting systems, such as plumbing, wiring or central heating; latent defects that materialize on real property after building or completion; payment protection to insureds; guaranteed asset protection (GAP) to cover the difference between an insurer's settlement and the asset value in the event of a total loss, and general liability, employers' liability, public liability, negligence of advisors, and liability of healthcare providers and medical facilities.

The Company's extended warranty business covers various consumer and commercial goods, and other risks, including automotive; consumer electronics and consumer appliances; commercial equipment, and recreational vehicle and power sports. The Company also serves as a third-party administrator to provide claims handling and call center services to the consumer products and automotive industries in the United States, Canada, Europe and Asia. The Company underwrites the specialty risk coverage on a coverage plan-level basis, which involves data collection and actuarial analysis, as well as analysis of applicable laws governing policy coverage language and exclusions.

Specialty Program

The Specialty Program segment provides workers' compensation, general liability, commercial auto liability, excess and surplus lines programs, and other specialty commercial property and casualty insurance to a homogeneous group of small and middle market companies. The segment's products and underwriting criteria often entail customized coverage, loss control and claims services, as well as risk sharing mechanisms. The coverage is offered through accounts with various agents to multiple insureds. Policyholders in this segment include industries, such as public entities, retail, wholesale, service operations, artisan contracting, trucking, light and medium manufacturing, habitation and professional employer organizations. The Company underwrites over 120 programs through approximately 40 independent wholesale and managing general agents.

The Company competes with A.M. Best Company.

Company Address

AmTrust Financial Services Inc

59 Maiden Ln Fl 43
NEW YORK   NY   10038-4639
P: +1212.2207120
F: +1212.2207130

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