AmTrust Financial Services has acquired US-based Total Program Management (TPM), which provides workers' compensation insurance to the health care industry.
Established in 2005, TPM primarily provides services in the New York region.
As a managing general underwriter, TPM offers policy issuance, underwriting, loss control, premium billing and audit services.
It also offers claims management services, including evaluation of internal programs on claim reporting, claim management and worker-absence management.
TPM had generated $47.1m insurance premium in 2015.
AmTrust had been the insurer for the most of premiums written via TPM.
AmTrust Financial Services president and CEO Barry Zyskind said: "The acquisition of TPM represents AmTrust’s continuing strategy to vertically integrate product distribution and expand the Company’s valuable fee based businesses."
In May, AmTrust Financial acquired Netherlands-based Nationale Borg-Maatschappij and its affiliates from Egeria and HAL Investments, for €161m in cash.
Based in Amsterdam, the 120-year Nationale Borg is an international direct writer and reinsurer of surety and trade credit insurance in around 70 countries.
Through its insurance subsidiaries, AmTrust provides specialty property and casualty insurance products such as workers’ compensation, commercial automobile, general liability and extended service and warranty coverage.
Image: Total Program Management offers workers’ compensation insurance to the health care industry. Photo: courtesy of fantasista / FreeDigitalPhotos.net.