AmTrust strikes ADC deal with Premia

AmTrust Financial has entered into a reinsurance agreement with
Premia in which the reinsurer will cover up to $1.025bn in reserve
losses, attaching when losses exceed $5.96bn under a deal disclosed
today.
The transaction will result in a $61mn pretax charge against
second-quarter earnings, AmTrust said. AmTrust said the deal became
effective on 30 June and covers exposures through 1 April 2017.
The agreement provides about $400mn in coverage above
AmTrust's $6.59bn of carried loss reserves as o