AmTrust has reached a definitive agreement under which funds managed by Blackstone Credit & Insurance will partner in the spin-off of seven of the specialty insurer’s MGA and fee businesses to form a new independent company.
AmTrust and the newly formed business will enter into a ten-year capacity agreement through which AmTrust will remain underwriter of the existing books of business offered through the MGAs. The insurer will also keep a “significant” equity interest in the new company.
The deal includes a trio of business with UK interests Arc Legal, Collegiate and Qualis.
AmTrust bought Arc Legal Expenses in 2016. Following the acquisition of Legal Insurance Management Group in 2019, the two businesses were
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