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AmTrust settles case against Italian insurance broker


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AmTrust settles case against Italian insurance broker

AmTrust FinancialServices Inc. and unit AmTrust Europe Ltd. have reached a agreement with Trust RiskGroup SpA, its CEO Antonio Somma and Trust Risk Italia SRL.

The agreement dismisses all actions, claims and counterclaimsamong AmTrust Financial, Somma, Trust Risk Group and Trust Risk Italia.

Trust Risk Group was the sole distributor for AmTrust Financial's $500 million Italianmedical malpractice business. AmTrust Financial moved to end its relationship dueto Trust Risk Group's failure to remit premiums and other inappropriate actions.AmTrust Financial later accusedSomma of conspiring withan arbitrator to defraud the company and rig proceedings.

All parties to the settlement have agreed to keep the terms ofthe settlement confidential.