Today’s issue of WorkCompRecap features the recent announcement from AmTrust Financial Services of its agreement to acquire Comp Options Insurance Co (“OptaComp”) for cash. Florida based OptaComp has generated approximately $60 million in workers’ compensation insurance premium in the state over the last year, and it follows a similar marketing approach to AmTrust, targeting small businesses with low-hazard risk profiles.
A.M. Best also weighed in on the transaction, noting that both the Financial Strength Rating of A (Excellent) and the Issuer Credit Rating of “a” for OptaComp remain unchanged after the announcement. The transaction is expected to close in the fall.
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