AmTrust Financial Services, Inc. Announces Purchase of BTIS Inc.
NEW YORK, Jan. 4, 2012 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. (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.
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CONTACT: AmTrust Financial Services, Inc. Investor Relations Elizabeth Malone CFA 646.458.7924 firstname.lastname@example.org Hilly Gross 646.220.7023 email@example.com
Source: AmTrust Financial Services, Inc. 2012 GlobeNewswire, Inc.