Daily News: December 2, 2014

ING Amends AmTrust Facility

AmTrust Financial Services announced it entered into a £235 million ($369 million) amended and restated credit agreement with ING Bank, N.V.

The amended and restated credit facility increases the maximum amount of the facility to £235 million from £200 million ($314 million). The facility supports the company’s capacity at Lloyd’s as a member and/or reinsurer of syndicates 2526, 1206 and 44 for the 2015 underwriting year of account as well as prior open years of account.

“We are pleased that ING Bank, N.V. continues to support our Company through the expansion of the credit facility for our Lloyd’s operations,” commented Barry Zyskind, CEO and president of AmTrust. “The expanded credit facility provides our Company with valuable financial resources to continue to successfully build-out our Lloyd’s platform.”

NYC-based AmTrust Financial Services is a multinational insurance holding company offering specialty property and casualty insurance products.