AmTrust Financial Services partners with Blackstone to spin off managing general agencies and fee businesses into a new independent entity. The spin-off includes seven subsidiaries offering various risk and insurance coverages. Adam Karkowsky will lead the new company, expected to have over 700 employees. AmTrust retains equity interest in the new venture. The transaction is set to conclude by the end of 2025, pending regulatory approvals. Post-transaction, AmTrust will continue as a multinational insurance company with 6,000 employees worldwide. The new company’s leadership team includes Joseph Brecher as CFO and Jacob Decter as COO.

Read more at Yahoo Finance: AmTrust, Blackstone partner for MGA spin-off