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In November 2018, AmTrust completed a go-private transaction, merging with Evergreen Parent, L.P., an entity formed with private equity funds managed by Stone Point Capital LLC, together with the Karfunkel-Zyskind family. [15] In January 2019, AmTrust voluntarily delisted and deregistered all series of preferred stock and subordinated notes. [16]
Barry Zyskind is an American businessman in the insurance industry, and head of AmTrust Financial Services Inc. [3] In the September 2016 edition of Best's Review, an A.M. Best publication, AmTrust was ranked the 11th largest commercial insurer in the US, up from 128th position in 2005. [4]
In 2007, the bank changed its name to Amtrust Bank. [3] In January 2009, the bank sold its 5 branches in Columbus, Ohio, to WesBanco. [4] On December 4, 2009, as a result of bank failure, the bank was shut down by the Office of Thrift Supervision. It was placed into receivership and the Federal Deposit Insurance Corporation was named receiver.
In December 2009, the Federal Deposit Insurance Corporation seized AmTrust, a bank headquartered in Cleveland, OH with 66 branches and $13 billion in assets in Ohio, Florida and Arizona. [16] NYCB acquired Amtrust, which expanded NYCB's branch footprint outside of the New York metropolitan area for the first time. [17]
George Karfunkel was born in Hungary, the son of Louis Karfunkel (1914-1997), a religious scholar and fishmonger, and his wife Clara. [2] [3] The family migrated to the US in the late 1950s, after the failed Hungarian Revolution of 1956, and lived in the Orthodox community of Boro Park in Brooklyn, New York City.
National General Insurance, formerly the GMAC Insurance Group is a Winston-Salem, North Carolina–based property and casualty insurance company. The company was founded in 1920.
First Security Savings Bank was founded as a federal savings bank in 1987. The chairman of the bank was Thomas J. Hammond. The initial branch focused on funding regional retail and wholesale mortgage operations. [3]
Acuity Insurance is the 55th-largest property and casualty insurer in the United States. [1]The company operates in 32 states, generates over $2 billion in revenue, manages over $5.5 billion in assets, and employs nearly 2,000 people. [2]