AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company" or "AmTrust") today announced that it has acquired Total Program Management LLC ("TPM") for cash. TPM is a managing general agency focused on programs that offer workers' compensation insurance to the health care industry. In 2015, TPM was responsible for insurance premium totaling $47.1 million.
Barry Zyskind, Chairman, President and Chief Executive Officer of AmTrust stated, "The acquisition of TPM represents AmTrust's continuing strategy to vertically integrate product distribution and expand the Company's valuable fee-based businesses."
TPM was founded as a managing general agency in 2005 and operates primarily in New York. AmTrust has been the insurer for the majority of premiums written through TPM.