AMTRUST ACQUIRES DUTCH CREDIT INSURER

US specialty property/casualty group AmTrust Financial Services has acquired Nationale Borg-Maatschappij, the Amsterdam-based surety and trade credit insurer and reinsurer, from Egeria and HAL Investments for €161m in cash. “We believe the acquisition of Nationale Borg establishes AmTrust as a world-class surety and trade insurance operation,” said AmTrust president and chief executive Barry Zyskind. “Combining Nationale Borg’s well established and profitable international surety and trade credit insurance operations with AmTrust’s growing international and domestic surety insurance business is expected to create a formidable presence in the market that should continue to achieve profitable growth and benefit from the significant resources of AmTrust.” Nationale Borg generated €94m in premiums for the 12 months ended March 31. The deal marks AmTrust fifth acquisition of the year.