AmTrust closes on Insco Dico purchase

|About: AmTrust Financial Servic... (AFSI)|By:, SA News Editor

The $88.7M purchase price is about 8.5% above book value and was funded with on-hand working capital.

CEO Barry Zyskind: "Insco Dico significantly enhances AmTrust's (AFSI) presence in the domestic surety bonds market and expands our operations with new insurance products, additional distribution and unique industry expertise."

In 2013, Insco Dico generated about $52M in insurance premium.