NEW YORK — AmTrust Financial Services Inc. has announced the completion of its acquisition of Warranty Solutions from Wells Fargo & Company for approximately $158 million in cash.
Warranty Solutions designs, markets, administers and underwrites vehicle service contracts for new and used automobiles through a national network of more than 70 active agencies, and 1,500 franchised and independent dealers.
"We are excited to welcome the employees, agents and customers of Warranty Solutions to the AmTrust family of companies," said AmTrust Financial Services President and CEO Barry Zyskind. "The addition of Warranty Solutions' strong reputation and extensive market presence should profitably add to our already successful vehicle extended warranty business."
Warranty Solutions is comprised of the following corporate entities: Warranty Solutions Management Corporation, Heritage Indemnity Company, Westlake Insurance Company (Bermuda) Ltd., Warranty Solutions Administrative Services Inc., WS Aftermarket Services Corporation and Heritage Mechanical Breakdown Corporation.