ASCOT TO ENTER WORKERS COMP WITH AMFED DEAL

Ascot Group is to enter the US workers’ compensation market with the acquisition of AmFed National Insurance Company. The global specialty re/insurer has reached a definitive agreement to acquire AmFed, a Mississippi-based workers’ compensation carrier and third-party administrator. AmFed has licences in 15 south-eastern and Midwestern states. Ascot said the deal represented the “first step in a targeted expansion strategy in select regions across the country”.