Unitrin to sell Unitrin business insurance unit to AmTrust Financial |
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Published
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Mon, 10 Dec 2007 13:44
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BOSTON (Thomson Financial) - Unitrin Inc. said Monday it agreed to sell its Unitrin business insurance unit to AmTrust Financial Services Inc. in a cash transaction.Terms of the deal weren't disclosed.The transaction is expected to close by the end of the first quarter of 2008, Unitrin said.Unitrin's business insurance unit serves commercial customers in 30 states and had total premium revenue of about $165 million in 2006.Shares of Unitrin, the Chicago-based property and casualty insurance provider, closed at $46.71 on Friday.Greg Saulniergs/jwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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