AmTrust to Buy Surety Writer Insco Dico Group for $85M

AmTrust Financial Services Inc. has agreed to purchase Insco Dico Group, owner of several surety insurance companies, for approximately $85 million.The purchase price, $7 million above Insco Dico’s tangible book value, will be funded through existing working capital, AmTrust states.Insco Dico’s subsidiaries include Developers Surety and Indemnity Co. and Indemnity Company of California, providers of surety insurance to developers and contractors nationwide, with California as the largest state.In addition, Insco Dico’s subsidiary, Builders Insurance Services, markets general ...