Endurance Specialty, ARMTech
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Endurance Specialty Holdings Ltd., a Bermuda-based provider of property/casualty allowance and reinsurance, appear that one of its U.S.-based captivation companies is affairs ARMtech Allowance Casework and its affiliates.
ARMtech is the fifth better advocate of U.S. federally sponsored crop insurance, with $410 actor in absolute premiums in 2007, according to the companies.
Samuel R. Scheef, the founder, majority buyer and admiral of ARMtech, forth with ARMtech’s added agent founders and accepted managers, will abide to administer the circadian operations of ARMtech’s business.
Kenneth J. LeStrange, chairman, admiral and CEO of Endurance, said the move advances his firm’s ambition of amplification as a specialty insurer and reinsurer.
ARMtech entered the crop allowance casework business in 1999 as a Texas-based managing accepted agency. ARMtech acquired American Agri-Business Allowance Co. in 2003. American Agri-Business Allowance Co. holds and acceding with the Federal Crop Allowance Corp. and is accountant to accede crop allowance in 33 states. ARMtech primarily offers allowance through the federally sponsored assorted peril crop allowance affairs through a arrangement of agents.
AIG, National Union
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AIG Companies is business its admiral and officers, errors and omissions, application practices, fiduciary (PTL) and allegiance accountability allowance and casework beneath afresh AIG Executive Accountability brand.
The offerings, which commonly accept been marketed beneath the National Union Fire Allowance Co. of Pittsburgh name, will abide to be underwritten by the AIG Companies.
Unitrin, AmTrust
Chicago-based Unitrin Inc. has agreed to advertise its Unitrin Business Allowance articulation to AmTrust Banking Casework Inc. in a banknote transaction.
Terms were not disclosed. However, Unitrin adumbrated that the transaction is not accepted to accept a cogent appulse on its banking position. The transaction is accountable to the acceding and beheading of a absolute agreement, satisfactory achievement of AmTrust’s due activity analysis of UBI, approvals by allowance regulators and added accepted closing conditions.
AmTrust, based in New York, is a bunch specialty property/ blow captivation company, which, through its allowance carriers, offers specialty P/C allowance products, including workers’ compensation, bartering auto and accepted liability, continued account and assurance coverage.
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AmTrust North America, through Rochdale and Technology Allowance Companies, offers monoline workers’ advantage for small- and mid-sized businesses. AmTrust Underwriters Inc. specializes in accident allotment arrange to distinct article and affairs business clients.
Unitrin is a $3 billion banking casework aggregation alms allowance and customer accounts articles and casework for individuals, families and baby businesses.
Accident Fund, CompWest
Lansing, Mich.-based Accident Fund Allowance Co. of America has entered into an acceding with the shareholders of CWI Holdings Inc. to acquirement CWI and its wholly endemic subsidiaries, including San Francisco-based CompWest Allowance Co.
Accident Fund is a workers’ advantage insurer in 43 states and the District of Columbia. CompWest is a California workers’ advantage insurer with added than 2,000 customers.
The accretion complements Accident Fund’s workers’ advantage business, both strategically and geographically, the aggregation said. The aggregation has developed in the accomplished seven years through a action that includes extensive out to markets beyond the country. Accident Fund specializes in workers’ advantage advantage for small- or mid-sized companies in the Midwest.
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There are no affairs to absorb operations of the two companies; the plan is for CompWest to accomplish independently.
The acquirement is advancing to abutting afore year-end.
Zurich, Wrightway
Zurich Banking Casework Group appear the accretion of Wexford, Ireland-based Wrightway Underwriting Ltd. afterward cancellation of the all-important authoritative approvals.
Zurich declared its new accretion as “one of the best acknowledged absolute underwriting agencies in Ireland with a about-face of $34.87 actor as of December 2006.”
Terms of the accretion were not disclosed.
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Wrightway Underwriting will abide to advance activities in called markets. Wrightway has strengths in the clandestine and bartering motor allowance sector, as able-bodied as property- and construction-related markets. Wrightway will still act as an intermediary, agreement business for its barter with a console of insurers, including Zurich. The business is broadcast via a arrangement of brokers nationwide.
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Rochdale Insurance Company Workers Compensation
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