AmTrust Financial Services, Inc. Announces Purchase of BTIS Inc.
January 04 2012 - 3:13PM
AmTrust Financial Services, Inc. (Nasdaq:AFSI) today announced the
completion of the purchase of California based Builders &
Tradesmen's Insurance Services, Inc. (BTIS). "We are excited about
the acquisition of BTIS. BTIS is a great company that has been in
business for over ten years providing specialty insurance products
to our target market of small business customers. We expect
BTIS to add in excess of $70 million in premiums over the next
year," said Barry Zyskind, Chief Executive Officer of
AmTrust.
"We look forward to building our operation with the benefit of
AmTrust's financial and organizational support and are enthusiastic
about contributing to AmTrust's success," said Norbert Hohlbein,
Chief Executive Officer of BTIS.
BTIS is headquartered in Rocklin, California. The company
is an insurance wholesaler and general agent specializing in the
procurement and brokering of insurance policies and bonds for small
artisan contractors. The company writes business in 12 western
states.
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., headquartered in New York
City, is a multinational insurance holding company, which, through
its insurance carriers, offers specialty property and casualty
insurance products, including workers' compensation, commercial
automobile and general liability; extended service and warranty
coverage. For more information about AmTrust, visit
www.amtrustgroup.com, or call AmTrust toll-free at
866.203.3037.
The AmTrust Financial Services, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3280
AFSI-F
CONTACT: AmTrust Financial Services, Inc.
Investor Relations
Elizabeth Malone CFA
646.458.7924
beth.malone@amtrustgroup.com
Hilly Gross
646.220.7023
hilly.gross@amtrustgroup.com
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