Haris Ashley
AmTrust Financial Services, Inc. is a multinational property and casualty insurance company based in New York City. Operating through its subsidiaries, AmTrust offers a range of insurance services, including small commercial business insurance, specialty risk and extended warranty insurance, and specialty middle-market property and casualty insurance. The company has a strong reputation, rated A− (Excellent) by AM Best Company, and is known for its ability to find solutions for even the most unusual risk challenges. AmTrust International, a part of the AmTrust group, holds events and fundraisers and has a strong presence in the insurance sector, with industry experts and thousands of executives, entrepreneurs, and investors.
| Characteristics | Values |
|---|---|
| Type of company | Multinational property and casualty insurance company |
| Services offered | Workers' compensation, general liability, business owners policies, cyber liability, employment practices liability, etc. |
| Operating segments | Small commercial business insurance, specialty risk and extended warranty insurance, and specialty middle-market property and casualty insurance |
| Main regions of operation | North America, United Kingdom, and mainland Europe |
| AM Best Company rating | A− (Excellent) |
| CEO | Barry Zyskind |
| CEO's notable achievements | Listed by Forbes as the best performing CEO in the insurance industry in December 2014 |
| Notable events | Q1 2024 Town Hall, fundraiser for Cancer Research UK, participation in Insurtech Insights event |
| Notable employees/representatives | Nick Bath, Roberta Brunelli (Managing Director at Qualis Credit Risk Specialists) |
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What You'll Learn
- AmTrust Financial Services is a multinational property and casualty insurance company
- Their operations are divided into three segments: small commercial business, specialty risk and extended warranty insurance
- AmTrust International held a quiz night fundraiser in 2024, raising £1300 for Cancer Research UK
- AmTrust International colleagues celebrated International Women's Day
- AmTrust is rated A− (Excellent) by AM Best Company
AmTrust Financial Services is a multinational property and casualty insurance company
AmTrust Financial Services, Inc. is a multinational property and casualty insurance company based in New York City. Founded by brothers George Karfunkel and Michael Karfunkel in 1998, the company operates through its subsidiaries, with its operations divided into three segments: small commercial business insurance, specialty risk and extended warranty insurance, and specialty middle-market property and casualty insurance.
AmTrust's small commercial business insurance segment provides worker's compensation to small businesses operating in low and medium-hazard classes, including restaurants, retail stores, physicians, and other professional offices. They also offer commercial package and other property and casualty insurance products to these small businesses, such as general liability, commercial auto liability, and excess surplus lines insurance programs.
The specialty risk and extended warranty insurance segment provides custom-designed coverages, including accidental damage plans and payment protection plans sold in connection with the sale of consumer and commercial goods in the United States and Europe.
AmTrust's specialty middle-market property and casualty insurance segment caters to specific industries or niche markets, offering tailored insurance solutions to meet the unique needs of these businesses. The company's main regions of operation are North America, the United Kingdom, and mainland Europe.
AmTrust Financial Services has received recognition for its work culture, being named a Northcoast 99 Best Places to Work Winner for 2017 and 2018. Barry Zyskind, Michael Karfunkel's son-in-law, serves as the chairman and CEO of the company. Zyskind was listed by Forbes as the best-performing CEO in the insurance industry in December 2014.
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Their operations are divided into three segments: small commercial business, specialty risk and extended warranty insurance
AmTrust Financial Services, Inc. is a multinational property and casualty insurance company based in New York City. The company's operations are strategically divided into three segments: small commercial business insurance, specialty risk and extended warranty insurance, and specialty middle-market property and casualty insurance.
Small commercial business insurance is a crucial aspect of AmTrust's operations, catering to the diverse insurance needs of small businesses. They offer tailored policies that provide comprehensive coverage for small enterprises, helping them mitigate risks and protect their assets.
Specialty risk and extended warranty insurance is another key segment for AmTrust International Insurance Ltd. This division focuses on providing specialised coverage for unique or niche risks that may not be adequately addressed by standard insurance policies. AmTrust's expertise and experience in this area set them apart, allowing them to forge strong insurance partnerships with their clients. They pride themselves on finding innovative solutions for even the most unusual risk challenges.
The company's ability to handle specialty risks is further enhanced by their focus on middle-market property and casualty insurance. This segment involves providing coverage for specific types of properties and liabilities that may require customised insurance solutions. By combining their expertise with a proactive approach, AmTrust works closely with its customers and business partners to address their unique insurance needs.
AmTrust's operations in these three segments span across North America, the United Kingdom, and mainland Europe, demonstrating their strong presence and commitment to serving diverse markets. The company's excellent rating by AM Best Company underscores their reliability and expertise in the insurance industry.
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AmTrust International held a quiz night fundraiser in 2024, raising £1300 for Cancer Research UK
AmTrust International Insurance Ltd. is a multinational property and casualty insurance company, offering a comprehensive range of risk solutions worldwide. With over 1800 employees in 36 locations, the company has a strong presence in North America, the United Kingdom, and mainland Europe.
The quiz night was not only a fun and engaging way to raise funds but also fostered a sense of community within the company. Colleagues united, putting their knowledge to the test, and their competitive spirits high, all for a worthy cause. The event was a testament to the company's commitment to social responsibility and its dedication to making a positive impact beyond its business operations.
The funds raised will contribute to Cancer Research UK's mission to conduct world-class research in the quest for a cure for cancer. This aligns with AmTrust International's core values, which include a dedication to making a meaningful difference in the lives of others.
The success of the quiz night fundraiser reflects AmTrust International's culture of giving back and supporting important initiatives. It demonstrates the company's belief in the well-being and prosperity of the communities it serves. AmTrust International's efforts in this regard are an inspiring example of corporate social responsibility in action.
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AmTrust International colleagues celebrated International Women's Day
The company's LinkedIn page showcases their dedication to empowering women and creating a supportive environment for their diverse workforce. AmTrust International recognises the importance of celebrating milestones and appreciating their employees' contributions. This culture of appreciation was evident during their Valentine's Day bake sale, which raised funds for Cancer Research UK, and their celebration of Employee Appreciation Day, where they acknowledged the dedication and hard work of their team.
AmTrust International's commitment to their employees extends beyond cultural celebrations, as demonstrated by their launch of the AmWell program. This initiative offers superior health and wellness benefits to their team, prioritising the overall wellbeing of their staff. The company's choice of Cancer Research UK as their 2024 AmTrust Cares Regional Charity further underscores their dedication to supporting health and wellness.
By celebrating International Women's Day, AmTrust International reinforces its commitment to diversity, inclusion, and the empowerment of women within the company. With their extensive resources, global reach, and dynamic partnerships, AmTrust International is well-positioned to foster an inclusive environment that recognises and celebrates the achievements of women in all roles and levels within the organisation.
AmTrust International's celebration of International Women's Day is a testament to their values and their dedication to creating a positive and progressive work culture that values and supports its employees.
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AmTrust is rated A− (Excellent) by AM Best Company
AmTrust Financial Services, Inc. is a New York City-based multinational property and casualty insurance company. It was founded in 1998 as a small warranty company and has since grown into a global, multi-billion-dollar business. AmTrust offers a range of insurance products, including workers' compensation, general liability, business owners policies (BOP), cyber liability, and employment practices liability (EPLI). The company's operations are divided into three main segments: small commercial business insurance, specialty risk and extended warranty insurance, and specialty middle-market property and casualty insurance.
AmTrust has received financial strength ratings from AM Best, a reputable credit rating agency. In 2019, AM Best affirmed AmTrust's Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a". This rating indicates that AmTrust is financially stable and has a strong ability to meet its ongoing insurance policy and contract obligations. The stable outlook of the Credit Ratings reflects AM Best's confidence in AmTrust's financial performance and risk management.
The A- (Excellent) rating by AM Best considers several factors, including AmTrust's risk-adjusted capitalization, balance sheet assessment, and operating performance. AmTrust's risk-adjusted capitalization was assessed as "very strong" by AM Best, taking into account factors such as fixed maturity assets, equities, and statutory surplus gains. The balance sheet assessment reflects AmTrust's modest exposure to natural catastrophe and terrorism events, which is favourable for the company's financial stability.
However, it is important to note that the A- rating by AM Best is a downgrade from a previous rating. While AmTrust remains financially stable, there have been concerns about its customer service and claims handling. Customer reviews have indicated problems with billing and timely responses to claims, which has led to an increased number of customer complaints. Despite this downgrade, AmTrust continues to be a reputable and financially sound insurance provider, particularly for small businesses and nonprofits seeking comprehensive coverage options.
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Frequently asked questions
AmTrust International Insurance Ltd. is a subsidiary of AmTrust Financial Services, Inc., a multinational property and casualty insurance company based in New York City. AmTrust offers a range of insurance products, including workers' compensation, general liability, and business owners policies.
AmTrust International specializes in niche risks and underwrites policies for small commercial businesses, specialty risks, extended warranties, and specialty middle-market property and casualty insurance.
AmTrust International has a growing reputation for its ability to find solutions for unusual risk challenges. The company is rated "A−" (Excellent) by AM Best Company, and its chairman and CEO, Barry Zyskind, was listed by Forbes as the best-performing CEO in the insurance industry in December 2014.
