Last €45.93 EUR
Change Today +0.462 / 1.02%
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As of 2:11 AM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

59 Maiden Lane

43rd Floor

New York, NY 10038

United States

Phone: 212-220-7120

Fax: 212-220-7130

AmTrust Financial Services Inc. underwrites and provides property and casualty insurance in the United States and internationally. The company transacts business primarily through twelve insurance company subsidiaries domiciled in the United States and four insurance subsidiaries domiciled outside the United States: Technology Insurance Company, Inc. (TIC), Rochdale Insurance Company (RIC), Wesco Insurance Company (WIC), Associated Industries Insurance Company, Inc. (AIIC), Milwaukee Casualty Insurance Company (MCIC), Security National Insurance Company (SNIC), AmTrust Insurance Company of Kansas, Inc. (AICK), AmTrust Lloyd’s Insurance Company of Texas (ALIC), Sequoia Insurance Company (SIC), Personal Express Insurance Company (PEI), Sequoia Indemnity Company (SID), and First Nonprofit Insurance Company (FNIC), which are domiciled in New Hampshire, New York, Delaware, Florida, Wisconsin, Delaware, Kansas, Texas, California, California, Nevada and Delaware, respectively; and AmTrust International Insurance Ltd. (AII) domiciled in Bermuda, AmTrust International Underwriters Limited (AIU) domiciled in Ireland, AmTrust Europe, Ltd. (AEL) and Motors Insurance Company Ltd. (MIC) domiciled in England. The company’s extended warranty customers are manufacturers, distributors and retailers of commercial and consumer products. The company has built a distribution of extended warranty and specialty risk products, including liability and other property/casualty products, in Europe. The majority of its products are sold through independent third-party brokers, agents, retailers or administrators. The company’s strategy is to target small to middle size customer markets throughout the U.S. and Europe where its proprietary technology platform enables the company to manage the high volume of policies and claims that result from serving large numbers of small policyholders and warranty contract holders. Business Segments The company’s segments include Small Commercial Business, Specialty Risk and Extended Warranty, Specialty Program, and Personal Lines Reinsurance. Small Commercial Business This segment provides workers’ compensation to small businesses that operate in low and medium hazard classes, such as restaurants, retail stores, physicians and other professional offices, and commercial package and other property and casualty insurance products to small businesses, with average annual premiums of approximately $7,081. The company is authorized to write its Small Commercial Business products in all 50 states. The company distributes its policies through a network of approximately 8,100 select retail and wholesale agents who are paid commissions based on the annual policy premiums written. Commercial package products provide a range of insurance to small businesses, including commercial property, general liability, inland marine, automobile, workers’ compensation and umbrella coverage. Some of its commonly written small business risks include restaurants; retail stores and strip malls; physician and other professional offices; building management-operations by owner or contractor; private schools; business traveler hotels/motels; light manufacturing; small grocery and specialty food stores; auto repair shops; light contracting, distributors; and laundry/dry cleaners. The company’s technology platform and application system permits agents and brokers to determine in real-time if the risk and pricing parameters for a prospective workers’ compensation client meet its underwriting criteria and deliver an application for underwriting approval to the company in a paperless environment. The company’s system handles most clerical duties, so that its underwriters can focus on making decisions on risk submissions. The company administers all Small Commercial Business claims in house. Its system guides the insured and other involved parties through the claims adjudication process in an effort to allow them to return to normal business operations as soon as possible. The company maintains Small Commercial Business property and casualty claims operations in various domestic offices and the commercial package claims ope

 

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Industry Analysis

721

Industry Average

Valuation 721 Industry Range
Price/Earnings 9.4x
Price/Sales 1.0x
Price/Book 2.3x
Price/Cash Flow 9.4x
TEV/Sales 0.6x
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