AmTrust : Everything you need to know
Headquarters address: 59 Maiden Lane, 42nd Floor, New York, NY 10038, United States
Gross written premiums: US$6.4 billion (2020)
Net premiums earned: US$4 billion (2020)
Total revenues: US$4.6 billion (2020)
Total assets: US$23.6 billion (2020)
Size (employees): 7,000+
Global locations: United States, Bolivia, Brazil, Mexico, Paraguay, Peru, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Russia, Spain, Sweden, The Netherlands, Turkey, United Kingdom, China, India, Indonesia, Malaysia, Philippines, Singapore, Vietnam
Underwriting expertise: Property and casualty, workers’ compensation, commercial package, and specialty risk & extended warranty insurance
Key people: Barry Zyskind (CEO and chairman of the board), Adam Karkowsky (president), Chaya Cooperberg (EVP, chief people and communications officer), Peter Dewey (EVP, head of international), Jeff Fenster (EVP, head of North American specialty risk), Chris Foy (EVP, head of North American commercial P&C), Ariel Gorelik (EVP, global technology and operations), Todd Jaeger (EVP, chief investment officer), Andrew Morgan (EVP, chief claims officer), Daniel Pacicco (EVP, chief financial officer), David H. Saks (EVP, chief legal officer)
AmTrust is a leading global provider of specialty risk and warranty products, with an “A-” rating from A.M. Best. Through acquisitions and organic growth, the company has turned into a multinational insurer that operates in three segments around the world: small commercial business insurance, specialty risk and extended warranty, as well as specialty middle-market property and casualty program insurance.
History of AmTrust
AmTrust was founded in 1998 by CEO Barry Zyskind and entrepreneurs George and Michael Karfunkel, focusing on special property and casualty markets and businesses with lower risk loss profiles. The company has grown into a global property and casualty provider and completed many acquisitions.
In 2019, AmTrust established AmTrust Forward, an organization-wide program developed to boost the company’s unique strengths and sharpen its focus to ensure that it would remain strong and profitable in the future.
That year, the company also entered a quota share agreement with Swiss Reinsurance America Corp (Swiss Re) for covering US small commercial businesses, projecting approximately US$2.9 billion in written premiums.
AmTrust also streamlined its underwriting processes to drive loss ratio improvements across all major business classes. The company has continued to improve automation and technology, deliver consistent communication to agents, improve partnership opportunities, and grow agency recognition programs.
For 2021 and beyond, the firm is adopting the theme AmTrust Now, illustrating how “there's never been a better time than right now to do business with AmTrust or to be an employee of AmTrust.”
“We continue to grow underwriting profitability, and our investment sheet is performing well. We have the strongest balance sheet in our history, and we are expanding in businesses where we have unique expertise to generate the most profitable returns,” the firm wrote on its website.
Leadership at AmTrust
Barry Zyskind – CEO and chairman of the board
Zyskind has been with AmTrust since the beginning, holding several senior management roles until he became the company’s CEO and chairman of the board. He also serves as the officer and director of many of AMTrust’s subsidiaries and the non-executive chairman of the board of Maiden Holdings.
His excellent leadership has earned him and the company recognition over the years. In 2012, Forbes named Zyskind as one of the 20 most successful CEOs below 40 and AmTrust as one of the top 100 fastest-growing companies. In 2014, Forbes once again recognized AmTrust as one of the best-managed companies.
Culture at AmTrust
As one of the most trusted companies in the financial services industry, AmTrust is committed to taking care of its people and giving back to communities. With the help of its agents and employees, AmTrust has sponsored events that benefit charities and organizations, including The American Heart Association, the Breast Cancer Research Foundation, and the American Foundation for Suicide Prevention.
The company also established a Go Green Initiative that aims to protect the environment and conserve natural resources.