AmTrust is seeking a 51% sale in its MGA network and warranty administration business to a private equity buyer.
AmTrust has taken the decision to sell its majority stake with a hope of generating more than $1bn in cash. Rumours have circulated that AmTrust would look to exit the MGA network after its final quarter results in 2016.
Ron Pipoly, CFO of AmTrust, has confirmed that they would be looking to sell the MGA this year. Pipoly has told the market that they might look to buy back shares with the cash raised from the sale.