AmTrust enters transfer renewal rights agreement with Safeco Insurance

AmTrust enters transfer renewal rights agreement with Safeco Insurance | Insurance Business America

AmTrust enters transfer renewal rights agreement with Safeco Insurance

AmTrust Financial Services has entered into an agreement with Safeco Insurance to offer personal lines agents with Republic General Agency an opportunity to transition their policies from AmTrust to Safeco in the third quarter of 2020.

A release said that AmTrust made the strategic decision to exit personal lines products written through its Republic carriers – pending regulatory approval. AmTrust said that it is focused on leveraging its strengths to provide commercial P&C products and services globally, “where it can differentiate its offering and bring added value.”

The agreement will provide transition for Republic personal lines policyholders in 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,” said AmTrust Financial EVP, head of North America specialty risk Jeffery Fenster.

Fenster added that AmTrust chose Safeco as a carrier partner due to their “world-class book transfer capabilities,” as well as their track record for smooth transitions.

“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,” said Safeco Insurance senior vice-president of IA channel growth and engagement Gary Fischer.

Safeco Insurance is a Liberty Mutual company.