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Unitrin completes sale of business insurance unit to AmTrust

Unitrin, a provider of property and casualty insurance, life and health insurance, and consumer finance services, has completed the previously disclosed sale of its Unitrin business insurance segment to AmTrust Financial Services in a cash transaction.

Terms have not been disclosed; however, Unitrin has indicated that the transaction is not expected to have a significant impact on its financial position.

Foley & Lardner represented Unitrin as legal advisors in this transaction and Cochran Caronia Waller served as Unitrin’s financial advisor.

Donald Southwell, president and CEO of Unitrin, said: We believe that the transaction provides good value for Unitrin’s shareholders, while at the same time providing an excellent strategic fit for Unitrin business insurance within AmTrust’s commercial insurance operations.