AmTrust, a leading workers’ compensation and extended warranty provider, made the strategic decision to exit, pending regulatory approval, personal lines products written through its Republic carriers
AmTrust enters agreement with Safeco Insurance to transfer renewal rights for Republic personal lines in six states. (Credit: Adam Radosavljevic from Pixabay)
AmTrust Financial Services, Inc. (“AmTrust” or the “Company”) today announced it has entered into an agreement with Safeco Insurance, a Liberty Mutual company, to provide personal lines agents appointed with Republic General Agency a compelling opportunity to transition their Republic policies to Safeco beginning in the third quarter of 2020.
AmTrust, a leading workers’ compensation and extended warranty provider, made the strategic decision to exit, pending regulatory approval, personal lines products written through its Republic carriers. The company is focused on leveraging their unique strengths to offer select commercial P&C products and services globally where it can differentiate its offering and bring added value. AmTrust believes the agreement with Safeco will provide a smooth transition for Republic personal lines policyholders across Texas, Louisiana, Oklahoma, Arkansas, Mississippi and New Mexico.
“AmTrust is focused on our core lines where we are an industry leader and have decided to exit our personal lines business written directly through Republic,” says Jeffrey Fenster, EVP, Head of North American Specialty Risk at AmTrust Financial. “We selected Safeco as our carrier partner given what we consider to be their world-class book transfer capabilities and a proven track record for smooth transitions.”
Safeco Insurance is a top three personal lines writer in the independent agency channel and was named the carrier champion of the independent agent in the 2019 Channel Harvest Study.
“We have an unwavering dedication to our independent agency partners and look forward to bringing our best-in-class products, people, programs and service capabilities to Republic agents and policyholders,” says Gary Fischer, Senior Vice President of IA Channel Growth and Engagement at Safeco Insurance.
Source: Company Press Release