AmTrust invests in weSure Global

AmTrust Financial is investing NIS 72.6 million (~$20 million) in Israeli digital insurance company weSure.

AmTrust will initially invest NIS 16 million for a 5% equity stake and in the second stage, subject to Israel Securities Authority approval, the US insurer will invest an additional NIS 21 million, which will bring its holding to 10% (at a price of NIS 3 per share). AmTrust will also convert an existing loan of NIS 35.6 million into ordinary shares that would give it a ~15% stake in the company.

AmTrust and weSure have been partners since 2022 and the US insurer also has a stake in weSure’s US MGA subsidiary WeSure Digital, which launched last year to offer small business coverage underwritten by AmTrust.