Friday, 7 August 2015
AMT Acquires Remainder of Warrantech
AMT Warranty Corp. announced last week that it has purchased the remaining 73 percent of Warrantech Corp., bringing its interest in the company to 100 percent.
AMT is a subsidiary of AmTrust Financial Services, Inc.
“We are excited about the additional revenue opportunities and diversification that the Warrantech transaction provides,” AmTrust Financial Services, Inc. President and CEO Barry Zyskind said as part of the announcement. “By bringing together these two robust warranty administration platforms, we expect to significantly increase our fee income and benefit from enhanced scale and technology efficiencies while further strengthening AmTrust’s market presence and premium opportunities in the warranty space.