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Stock Market & Financial Investment News

News Breaks
January 21, 2014
07:48 EDTAFSI, TWGPAmTrust receives regulatory approval to provide cut-through agreement for Tower
AmTrust Financial (AFSI) announced the receipt of regulatory approval to complete an agreement between a subsidiary of the company and several Tower Group International (TWGP) subsidiaries to enter into a 100% quota share reinsurance agreement and provide a cut-through endorsement to at least 60% of Tower's in force Commercial Lines policies and on most new and renewal Commercial Lines Business. AmTrust has agreed to accept 65%-70% of unearned premium with respect to in-force Commercial Lines policies. The agreement is effective as of January 1, for losses occurring on or after January 1. The company will pay a 20% ceding commission to Tower on all Tower premium subject to the Cut Through Reinsurance Agreement.
News For AFSI;TWGP From The Last 14 Days
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August 4, 2015
07:25 EDTAFSIAmTrust reports Q2 EPS $1.55, consensus $1.34
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July 31, 2015
16:49 EDTAFSIThe Climate Corporation sells crop insurance business to AmTrust
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16:31 EDTAFSIOnebeacon Insurance exits crop business
OneBeacon Insurance Group (OB) has exited the crop insurance business due to the sale of its exclusive managing general agency, Climate Crop Insurance Agency, to AmTrust Financial Services (AFSI). The company's existing crop insurance business has been transferred to AmTrust, including policyholder servicing. OneBeacon President and CEO Mike Miller said, "We are committed to ensuring a smooth transfer for both our policyholders and for the Climate crop insurance business team. We have terminated our relationship with The Climate Corporation and have withdrawn our Plan of Operations with the U.S. Department of Agriculture's Risk Management Agency for the 2016 crop year. "

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