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AmTrust Acquires Comp Options Insurance Co

 State: NY

 

AmTrust Financial to Acquire Comp Options Insurance for Cash

 

AmTrust Financial Services Inc. said Thursday it has agreed to acquire Comp Options Insurance Co., or OptaComp, an affiliate of Blue Cross & Blue Shield of Florida for an undisclosed sum of cash.

 

OptaComp generated about $60 million in workers’ compensation premiums in Florida in the past 12 months through a marketing approach similar to AmTrust’s. It targets small businesses with low-hazard risk profiles.

 

OptaComp’s products are marketed through a network of independent agents.

 

Headquartered in New York City, AmTrust is a multinational insurance holding company, which, through its insurance carriers, offers specialty property and casualty insurance products, including workers’ compensation, commercial automobile and general liability.

 

The AmTrust-OptaComp acquisition is scheduled to close in the fall.

 

Source: AmTrust

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