AmTrust Financial Services

Not to be confused with AmTrust Bank.
AmTrust Financial Services, Inc.
Public
Traded as NASDAQ: AFSI
Industry Insurance, Extended Warranties, Specialty Risk
Founder George Karfunkel,
Michael Karfunkel
Headquarters Home Insurance Plaza
New York City, USA
Key people
 Barry Zyskind[1] (CEO)
Website www.amtrustgroup.com

AmTrust Financial Services, Inc., is a New York City-based multinational property and casualty insurance company. Operating through its subsidiaries, its operations are divided into three segments: Small Commercial Business insurance, Specialty Risk and Extended Warranty insurance, and Specialty Middle-Market Property and Casualty insurance. The company’s main regions of operations are North America, United Kingdom, and mainland Europe. AmTrust is listed on the NASDAQ Global Market under the ticker symbol AFSI and is rated “A” (Excellent) by AM Best Company.[2] Barry Zyskind is the Chief Executive Officer.[3]

History

AmTrust Financial Services was founded by brothers, George Karfunkel and Michael Karfunkel in 1998.[4]

It began trading on the NASDAQ Global Select Market on November 13, 2006.[5]

In 2016 Barry Zyskind was appointed as Chairman in addition to existing roles as Chief Executive Officer, President and Chairman of Executive Committee.[6]

In December 2014 he was listed by Forbes as the best performing CEO in the Insurance industry.[7]

In 2005 Ronald (Ron) Pipoly was appointed as Chief Financial Officer.[8]

Affiliated companies and subsidiaries

Most of the company’s business is contracted through more than 20 insurance companies and subsidiaries throughout the world. The following are some of their US subsidiaries:[9]

The company's foreign insurance subsidiaries include:

Core business segments

Small Commercial Business Insurance

The Small Commercial Business segment of AmTrust provides worker’s compensation to small businesses which operate in low and medium hazard classes. Included in this class are restaurants, retail stores, physicians and other professional offices. They also offer commercial package and other property and casualty insurance products to small businesses.[3]

Specialty Program Business Insurance

This segment provides workers’ compensation, general liability, commercial auto liability, excess surplus lines insurance programs and other specialty commercial property and casualty insurance through managing general agents.[9]

Specialty Risk and Extended Warranty

This segment is engaged in providing custom designed coverages. Included are accidental damage plans and payment protection plans sold in connection with the sale of consumer and commercial goods in the United States and Europe.[9]

Recognition

AmTrust Financial Services was ranked number 1,495 on the Forbes list of the 2000 World’s Biggest Public Companies in 2016 with a market capitalization of $4.6 billion.[3]

References

  1. ↑ "Barry Zyskind". WSJ. Retrieved July 5, 2016.
  2. ↑ "A.M. Best Affirms Ratings of AmTrust Financial Services, Inc. and Its Subsidiaries". A.M. Best. 29 May 2015. Archived from the original on 16 August 2016. Retrieved 29 June 2016.
  3. 1 2 3 "The World's Biggest Public Companies". Forbes. 1 May 2016. Retrieved 29 June 2016.
  4. ↑ "AmTrust Financial Services, Inc. Announces The Passing Of Founder And Chairman Michael Karfunkel". The Street. 27 April 2016. Retrieved 29 June 2016.
  5. ↑ "2015 Annual Report" (PDF). AmTrust. 31 December 2015. Retrieved 29 June 2016.
  6. ↑ "Amtrust Financial Services: Barry D. Zyskind". Bloomberg. Retrieved 29 June 2016.
  7. ↑ Chen, Liyan (10 December 2014). "America's Best Managed Companies". Forbes. Retrieved 29 June 2016.
  8. ↑ "Amtrust Financial Services (AFSI:Consolidated Issue Listed On NASDAQ Global Select )". Bloomberg. Retrieved 30 June 2016.
  9. 1 2 3 "AmTrust Financial Services Inc (AFSI.O)". Reuters. Retrieved 29 June 2016.
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