"Completing the acquisition of the U.S. operations of AmTrust Surety enhances our strong U.S. surety expertise and market leadership, and allows us to better serve our valued U.S. distribution partners and customers," notes Tim Mikolajewski, President, Global Surety, Liberty Mutual. "When the full scope of the acquisition is complete later this year, it will provide us with an expanded geographic footprint and further strengthen our best-in-class operation."
On April 15, 2019, Liberty Mutual announced a definitive agreement to acquire the global surety and credit reinsurance operations of AmTrust. As planned, Liberty Mutual expects to close on the remaining operations in the second half of this year, subject to regulatory approvals and customary closing conditions.
Skadden, Arps, Slate, Meagher & Flom LLP provided legal advice to Liberty Mutual Insurance in the transaction.