AmTrust Financial Services to Sell Shares in National General Holdings

AmTrust Financial Services, an insurance holding company, has entered into agreements to sell 10,586,000 shares of insurance firm National General Holdings Corp. (NGHC) for approximately $211.7 million.

AmTrust has agreed to sell the shares at $20 each, which represents a discount of 8.3% to NGHC’s closing price on June 8. The sale will be conducted through separate, privately negotiated purchase agreements with unaffiliated third parties. AmTrust said it will invest the funds from the sale in accordance with its overall corporate investment guidelines, and individual subsidiary’s investment guidelines.The company has held an ownership interest in NGHC since 2010, and its total invested capital in NGHC is approximately $53 million.