AmTrust Acquires Surety MGA CMGIA

NEW YORK--(BUSINESS WIRE)--AmTrust Financial Services, Inc., (“AmTrust” or the “Company”) a global specialty property casualty insurer, today announced it has acquired Contractor Managing General Insurance Agency, Inc. (CMGIA), a California-based MGA that offers surety bonds to small to mid-sized contractors nationwide.

"The addition of CMGIA allows AmTrust to immediately establish a presence in the small to mid-size contractor surety market,” said Sam Zaza, President, AmTrust Surety. "CMGIA’s underwriting talent and agent network will be a key component in the growth of our surety business."

CMGIA will offer surety bonds to small to mid-size contractors across 50 states building on its strong track record of handling a wide-range of standard and specialty accounts. The Company is led by Stephanie Shear, a seasoned surety underwriter with over 40 years of experience. Ms. Shear will join AmTrust’s surety business along with several underwriters and support staff from CMGIA.

"We are excited to join the AmTrust team," said Shear. "CMGIA will continue to source profitable specialty business, while growing account sizes, expanding geographically, and offering best-in-class service to our agents and obligees."

About AmTrust Financial Services, Inc.

AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers' compensation, business owner's policy (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com.