Newtown, PA . March 17, 2015.
It is with great enthusiasm that ARI announces it has signed an agreement to become part of AmTrust Financial Services group, rated A (Excellent) by A.M. Best. AmTrust has entered into a Quota Share Reinsurance Agreement with ARI with the plan, subject to regulatory approval, to acquire the Company.
"ARI has been looking for the right fit to give the Company the capital and A.M. Best rating necessary to expand the franchise," said Karen S. Fulton, President & CEO. "We are proud of the value and expertise we have built in the commercial automobile and transportation insurance sectors. Having the ability to diversify geographically and offer our agents more products down the road is a tremendous opportunity. AmTrust has acknowledged their desire to grow their commercial automobile book of business and the staff at ARI is excited to embrace this synergy with the resources and best practices of both organizations."
ARI will be retaining its offices in Newtown, PA and its dedicated employees that have been an integral part to building the ARI franchise. We look forward to growing profitably with our business partners for years to come.
ARI Insurance Companies is one of the top ten writers of commercial automobile in the state of New Jersey and has recently entered Pennsylvania and Maryland with Virginia imminent. For more information visit www.ari-ins.com or call ARI toll-free at 800-820-4506.