OKLAHOMA CITY--(BUSINESS WIRE)--BMSI Holdings, Inc. is pleased to announce the completion of AmTrust Financial Services, Inc.’s purchase of the renewal rights to BancInsure, Inc.’s in-force insurance policies effective February 14, 2012. “We are excited about the opportunity to work with AmTrust Financial Services, Inc. and we look forward to building upon BancInsure’s historic success. The BancInsure team is working aggressively to assure a smooth transition for our customers and agents,” stated Cara Byrne, President and Chief Executive Officer of BancInsure, Inc.
“Our relationship with BancInsure will provide an opportunity to expand our product line and geographic footprint. BancInsure has a great history as the provider of a variety of insurance products to the community banking industry. We expect this acquisition of BancInsure’s book of business will add positively to AmTrust’s results,” said Barry Zyskind, Chief Executive Officer of AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., headquartered in New York City, is an A.M. Best A (Excellent) rated, size IX 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.
BancInsure has been specifically dedicated to the nation’s community banks for 25 years and retains an excellent business position strengthened by continued close ties to community banks and independent insurance agents serving the niche market. In addition, BancInsure is proud to have earned the endorsement of several state banking associations.
A full-line independent insurer specific to financial institutions, BancInsure's understanding of financial institutions and their intricate operations is unmatched in the marketplace. This translates to extraordinary value through complete risk mitigation and risk management solutions. Headquartered in Oklahoma City and licensed in 48 states, BancInsure has proudly earned an industry leading market share. www.bancinsure.com