Portfolio Transfer Approved
March 29, 2020 4:01 pm
In the fall of 2019, we informed stakeholders of the intention of AmTrust International Underwriters DAC (“AIUD”) to transfer its entire Dutch and Belgian guarantee portfolio to Liberty Mutual Insurance Europe SE (“LMIE”), an insurance company based in Luxembourg. LMIE has an “A” rating from Standard & Poor’s.
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On March 25, 2020, the High Court of Ireland approved the proposed transfer. The transfer will take place on March 31, 2020. From that moment onwards, Liberty Mutual Surety Europe B.V. with the trade name Nationale Borg, located at Keizersgracht 165, 1016 DP Amsterdam, the Netherlands and Uitbreidingstraat 66, 2600 Antwerp, Belgium, will act as authorized agent for LMIE in the Netherlands and Belgium.
The transfer does not change existing guarantee facilities and current bonds and guarantees, nor will it change our systems, our service and our contacts.
We look forward to our future within the Liberty Mutual group, the largest non-bank guarantee provider in the world, with great confidence. If you have any questions about the transfer, please do not hesitate to contact us at email@example.com or via your relationship manager.
With this transfer, the Dutch and Belgian part of the transaction between AmTrust Financial Services and Liberty Mutual Group, which was announced in April 2019 and which had already been partially implemented in October 2019, is completed.