CRM Holdings, Ltd. Announces Strategic Alliance
with AmTrust Financial Services
April 08, 2010 08:03 AM Eastern Daylight Time
HAMILTON, Bermuda--(EON: Enhanced Online News)--CRM Holdings, Ltd. (“CRM” or “the Company”)
(Nasdaq:CRMH), a provider of a full range of products and services for the workers’ compensation insurance
industry, today announced that its primary insurance subsidiary, Majestic Insurance Company (“Majestic”), has
entered into a quota share agreement with certain subsidiaries of AmTrust Financial Services, Inc. (“AmTrust”), a
multinational specialty property and casualty insurance company, covering the writing, management and
administration of workers’ compensation insurance in the western states of California, Arizona, Nevada and Oregon.
Beginning April 1, 2010, Majestic will arrange for selected workers’ compensation insurance policies to be
underwritten by the AmTrust group companies and reinsured by Majestic under a 90% quota reinsurance
agreement. Majestic will perform various management services for the covered business, including marketing,
underwriting, issuance of policies, loss control, and claims handling. The agreement limits the amount of covered
business to $40 million in any calendar year.
“We are extremely pleased to have begun this relationship with AmTrust Financial. This will allow Majestic the
flexibility to offer insurance through AmTrust in the western states to our brokers and clients that require A-minus
rated coverage. At the same time, Majestic will manage those policies and provide the exceptional loss control
services and claims management that brokers and clients expect from Majestic. We are optimistic that AmTrust’s
excellent reputation will allow us to expand our primary insurance segment in the covered states and we look
forward to exploring other opportunities with them,” said James Scardino, Chief Executive Officer of CRM.
About CRM Holdings, Ltd.
CRM Holdings, Ltd. is a specialty provider of workers’ compensation insurance products.