AmTrust Financial Services has acquired the middle market management liability business of DUAL North America. The deal includes its DUAL’s underwriting team and renewal rights.
Seven DUAL professionals will join AmTrust’s EXEC unit. DUAL North America’s management liability practice is a nationwide admitted program for both for-profit and not-for-profit entities. The portfolio includes directors & officers’ (D&O) liability, employment practices liability, fiduciary liability, and crime coverage.
DUAL North America is specialty program administrator offering property, casualty, and financial lines products. It is part of the DUAL Group, a global underwriting organization operating from 19 countries.
New York-based AmTrust offers specialty property and casualty insurance products, including workers’ compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage.
“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 has a strong relationship with AmTrust in multiple classes,” said Dennis Kearns, president of 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.”