AmTrust Financial Services Inc. announced it has acquired the middle market management liability business of DUAL North America, which includes its underwriting team and renewal rights to the portfolio.
As part of the transaction, seven DUAL professionals will join AmTrust’s EXEC unit.
Financial details of the transaction were not disclosed.
“This acquisition represents an excellent, complementary addition to an already strong business at AmTrust,” said Jim Seymour, senior vice president, AmTrust EXEC. “We’re confident that in addition to being successful with the renewals, we will be able to grow the client base across new classes. The addition of this middle market team and portfolio is a definite enhancement to AmTrust’s presence in the private management liability space.”
DUAL North America Management Liability is a nationwide admitted program for both for-profit and not-for-profit entities. The portfolio includes directors & officers liability, employment practices liability, fiduciary liability and crime coverage.
“DUAL has a strong relationship with AmTrust in multiple classes,” said Dennis Kearns, president, DUAL Transaction Solutions. “This transaction will allow the Middle Market team to expand its appetite and products, and we feel this is an excellent fit for this group of management liability professionals.”
About AmTrust Financial Services Inc.
AmTrust Financial Services Inc., the New York-based multinational insurance holding company, offers specialty property and casualty insurance products, including workers’ compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage.
About Dual North America
DUAL North America Inc. (DUAL) is a specialty program administrator offering property, casualty and financial lines products through several specialized operating subsidiaries. DUAL is part of the DUAL Group (part of Howden Group Holdings). The DUAL Group is home to over 1,000 team members who wrote over $2.3 billion in premium in 2021 across 70-plus products in 19 countries.
Source: AmTrust Financial Services
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