AM Trust Financial Services, an international P&C insurer, has acquired Contractor Managing General Insurance Agency, Inc. (CMGIA).
CMGIA is a California-based MGA that offers surety bonds to small and medium-sized contractors. The company has a strong focus on the needs of construction professionals nationwide.
The firm is led by Stephanie Shear, a seasoned surety underwriter with over 40 years of experience.
Following the acquisition, Shear will now join AmTrust’s surety business along with several CMGIA underwriters and support staff.
“The addition of CMGIA enables AmTrust to immediately establish a presence in the small and medium-sized contractor surety market,” said Sam Zaza, President of AmTrust Surety.
“CMGIA’s underwriting talent and agent network will be key to growing our surety business.”
Shear, added, “We are thrilled to join the AmTrust team. CMGIA will continue to find profitable specialty businesses, while increasing account size, expanding geographically and providing best-in-class service to our agents and creditors.
Additionally, AM Trust recently acquired the mid-market executive liability business of DUAL North America.