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Amtrust Acquires Surety Mga Cmgia

Nov 04, 2022•about 3 years ago

Acquiring Company

AmTrust Financial Services

Acquired Company

Surety MGA CMGIA

New YorkInsurance

Description

AmTrust Financial Services, Inc., (“AmTrust” or the “Company”) a global specialty property casualty insurer, today announced it has acquired Contractor Managing General Insurance Agency, Inc. (CMGIA), a California-based MGA that offers surety bonds to small to mid-sized contractors nationwide.

Company Information

Company

AmTrust Financial Services

Location

New York, New York, United States

About

AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers' compensation, business owner's policy (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed