AmTrust launches AmTrust Forward to position for long-term success
AmTrust Financial Services, Inc. has launched AmTrust Forward, its strategic plan for AmTrust.
“Our vision for AmTrust is to be a leading specialty commercial P&C insurer. We believe we can achieve this by focusing on local markets and niche products where we can add significant value,” said Barry Zyskind, Chairman and CEO of AmTrust. “As a private company, we have the opportunity to return to the core of what made AmTrust so successful over the past 20 years and manage our business for long term success through sustainably profitable future growth.”
AmTrust Forward is an organization-wide program focused on leveraging the Company’s unique strengths to offer select commercial P&C products and services globally where it can differentiate its offering and bring added value.
Mr. Zyskind added, “As a private enterprise, we believe we are better positioned to take a long-term view of every opportunity. We will continue to ensure we are making the right decisions for the future of our business, our employees, and the agents, brokers, partners and clients we serve around the world. As always, we will be driven by our core values of Excellence, Innovation, Integrity, Responsibility, Inclusion and Teamwork. We are creating an exciting place to work with opportunities for career development and advancement, and participation in AmTrust’s future success and profitability. This is a new era for AmTrust, and we are positioning our company to thrive for the next 20 years and beyond.”
AmTrust is also announcing the succession of certain executive leaders. Michael Saxon, EVP – U.S. Commercial Lines, and Max Caviet, CEO of AmTrust International Limited, the Company’s European parent holding company, each announced his intention to retire effective December 31, 2018. Mr. Saxon has been with the Company since 2001 and Mr. Caviet has been with the Company since 2003. Mr. Saxon will continue on a consultative basis, as Vice Chairman of AmTrust North America. Mr. Saxon and Mr. Caviet will assist in the transition to their respective successors, Christopher Foy and Peter Dewey.
In addition, Christopher Longo, the Company’s Chief Operating Officer, announced his intention to resign effective December 31, 2018, to pursue other opportunities, following the completion of the Company’s go-private transaction. Mr. Longo has been with the Company since 2001.
Mr. Zyskind said, “I would like to recognize and thank Mike, Max and Chris, who have been instrumental in building AmTrust over the past 20 years. I greatly appreciate the commitment and dedication they brought to our Company, throughout our many years of working together. I am very pleased to welcome Chris Foy and Peter Dewey to their new, expanded roles. Each is a talented leader, with sound decision-making skills, driven by integrity and a deep commitment to excellence and service. AmTrust has deep bench strength to draw upon as we embark on our journey as a private company to be one of the leading specialty commercial P&C players in the industry.”
Christopher Foy will serve as EVP, Head of North American Commercial P&C, with responsibility for leadership of AmTrust’s North American commercial business and specialty programs segments. Mr. Foy joined AmTrust in 2016 as President of AmTrust Underwriters, with responsibility for the specialty program business segment. Prior to joining AmTrust, Mr. Foy was President and owner of Total Program Management, a specialty MGA. Previously, he was Senior Vice President at Clarendon National Insurance Company specializing in MGAs and program business nationwide.
Peter Dewey will serve as EVP, Head of International, with oversight of AmTrust’s international business. Mr. Dewey joined AmTrust in 2003, and has served as CEO at AmTrust at Lloyd's since 2014. Prior to joining AmTrust at Lloyd’s, Mr. Dewey was Chief Underwriting Officer of AmTrust’s Specialty Risk & Warranty Division overseeing a team of actuaries, underwriters and risk management professionals. Prior to AmTrust, Mr. Dewey was an Underwriter with Trenwick International Limited and prior to that, he worked for an MGA as an Underwriting Manager.
AmTrust International (AI), the global insurance operation of AmTrust Financial Services Inc, comprise of four regulated companies – AmTrust Europe Limited, AmTrust at Lloyd’s Limited, Car Care Plan and AmTrust International Underwriters Designated Activity Company.
Since its founding year in 2003, AI have significantly expanded into Europe, Asia and South America and today employ more than 1200 staff in 26 locations.
Delivering bespoke insurance solutions around the world, backed by outstanding service, AmTrust International have the knowledge, skills, financial strength, technology and global licences to provide a comprehensive range of risk solutions worldwide.
Rated “A” Excellent by A.M.Best and with a Lloyd’s of London platform backed by the Lloyd’s of London chain of security, the underwriting entities within AmTrust International have the strength and the resources to support your business for the long term.
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