Atlas Financial Holdings Announces Letter of Intent for Sale of Gateway Insurance Company to Ride-Sharing Insurance Provider Buckle; Continues Strategic Transition Towards MGA Model
Upon closing, Buckle plans to recapitalize Gateway to support the writing of new and renewal insurance policies, including non-paratransit policies for AGMI.
- Upon closing, Buckle plans to recapitalize Gateway to support the writing of new and renewal insurance policies, including non-paratransit policies for AGMI.
- Buckle will rent space in Atlas headquarters building in Schaumburg, IL as well as additional space in the Companys Melville, NY office.
- AGMI will continue to write New York area business along with select renewals outside of New York through the Companys wholly owned insurance company Global Liberty Insurance Company.
- Atlas continues to work constructively with insurance regulators with the objective of a successful rehabilitation of the ASI Pool Companies as this business is transitioned to strategic partners via Atlas MGA model.