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AmTrust Financial Acquires Warrantech

9/13/2010 12:01:00 AM Eastern
NEW YORK — AmTrust Financial Services, through its subsidiary AMT Warranty, has acquired the remaining 73 percent ownership interest in Warrantech, bringing its total ownership interest to 100 percent.

Under the new ownership, Joel San Antonio remains chairman of Warrantech; AmTrust’s Stuart Hollander becomes Warrantech CEO; Sean Hicks continues to run Warrantech’s Consumer Product Services group; and AMT president Bruce Saulnier is also president of Warrantech.

AmTrust Financial Services president/CEO Barry Zyskind said, “By bringing together these two robust warranty administration platforms, we expect to significantly increase our fee income and benefit from enhanced scale and technology efficiencies while further strengthening AmTrust’s market presence and premium opportunities in the warranty space.”
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