AmTrust Financial Services to spin-off certain MGA assets and fee businesses.

AmTrust Financial Services, a company that provides insurance protection, warranty programs and risk management expertise, agreed to spin-off certain MGA assets and fee businesses. Blackstone Credit & Insurance will acquire a majority stake in the spun-off businesses and partner with AmTrust in their operations. Financial terms were not disclosed. “We are very pleased to partner with Blackstone to unlock the substantial embedded value that we have built in our global MGA and fee businesses. With this transaction, these businesses will be positioned to further invest in their operations, meaningfully grow their portfolio, and continue to deliver outstanding service to their clients. With our significant retained equity interest, AmTrust looks forward to participating in the future success of the new company. I am confident in the strength and experience of Adam and the leadership team to drive the new company to great heights," Barry Zyskind, AmTrust Chairman and Chief Executive Officer.