AmTrust still facing Lloyd’s hurdles despite acquisition
AmTrust's agreement to acquire Doré & Associates Holdings Ltd (DAHL) still leaves it short of satisfying the specialty insurer's quest for a risk-bearing Lloyd's business.
DAHL is the holding company that employs the 13 staff at AG Doré Syndicate 2526 (at end-2011) and also acts as an underwriting services company that receives fees from the syndicate.
However, DAHL provides none of the capital to support underwriting operations.
As such, DAHL had just £1.69mn of turnover in 2011 and shareholders' funds...
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