Arc Legal and Collegiate part of AmTrust/Blackstone MGA spin-off
AmTrust has reached a definitive agreement under which funds managed by Blackstone Credit & Insurance will partner in the spin-off of seven of the specialty insurer’s MGA and fee businesses to form a new independent company.
AmTrust and the newly formed business will enter into a ten-year capacity agreement through which AmTrust will remain underwriter of the existing books of business offered through the MGAs. The insurer will also keep a “significant” equity interest in the new company.
The deal includes a trio of business with UK interests Arc Legal, Collegiate and Qualis.
With this transaction, these businesses will be positioned to further invest in their operations, meaningfully grow their portfolio, and
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