AmTrust strikes £56m deal for Sagicor
AmTrust Financial Services is to buy Sagicor Europe (SEL) and Sagicor at Lloyd's for £56m.
The deal with Sagicor Financial Corporation - which is £15m more than the amount SEL was valued for in December 2012 - is expected to be completed in the fourth quarter of 2013.
AmTrust stated they would fund the deal through the use of existing working capital.
Sagicor of Lloyd's is a managing agency and owner of Lloyd's property and casualty insurance syndicate 1206 with stamp capacity of £200m.
The agency also owns Lloyd's life insurance syndicate 44 with stamp capacity of £7m, while a
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