Although the terms of the deal were not yet disclosed, Unitrin indicated that the transaction is not expected to have a significant impact on its financial position. The transaction is subject to the negotiation and execution of a definitive agreement, satisfactory completion of AmTrust's due diligence review of UBI, approvals by insurance regulators and other customary closing conditions.
AmTrust North America, through Rochdale and Technology Insurance Companies, offers mono-line workers compensation for small and mid-size businesses. AmTrust Underwriters Inc. specializes in risk funding arrangements to single entity and program business clients.
Among the brands in Unitrin's Property and Casualty Insurance business are Kemper, Unitrin Specialty and Unitrin Business Insurance, which sell personal and commercial insurance through networks of independent agents, and Unitrin Direct, which sells auto insurance directly to consumers. Unitrin has a life and health insurance unit and Fireside Bank, which specializes in automobile loans for the purchase of pre-owned vehicles.