Unitrin Announces Agreement in Principle to Sell Unitrin Business Insurance to AmTrust.CHICAGO -- Unitrin, Inc. (NYSE NYSESee: New York Stock Exchange :UTR UTR Untranslated Region (genetics) UTR Unicode Technical Report UTR Unique Taxpayer Reference (UK Inland Revenue) UTR Unable to Reach UTR Unable to Reproduce UTR University Technical Representative ) announced today that it has reached an agreement in principle to sell its Unitrin Business Insurance segment ("UBI UBI Universidade da Beira Interior (Portugal) UBI Unrelated Business Income UBI Unified Business Identifier UBI United Bank of India UBI UKW-Sprechfunkzeugnis für den Binnenschifffahrtsfunk ") to AmTrust Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc. ("AmTrust") in a cash transaction. Terms were not disclosed; however, Unitrin indicated that the transaction is not expected to have a significant impact on its financial position. The transaction is subject to the negotiation and execution of a definitive agreement, satisfactory completion of AmTrust's due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review of UBI, approvals by insurance regulators and other customary closing conditions. AmTrust, based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is a multinational specialty property and casualty holding company, which, through its insurance carriers, offers specialty property and casualty insurance products, including workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. , commercial automobile and general liability, extended service and warranty coverage. Cochran Caronia Waller has served as Unitrin's financial advisor. Unitrin is a $3 billion financial services company focused on creating shareholder value by providing a diverse array of insurance and consumer finance products and services for individuals, families and small businesses. Among the brands in Unitrin's Property and Casualty Insurance business are Kemper[R]1, Unitrin Specialty and Unitrin Business Insurance, which sell personal and commercial insurance through networks of independent agents, and Unitrin Direct, which sells auto insurance directly to consumers. Unitrin's Life and Health businesses bring a high level of personalized service to their customers. Unitrin's consumer finance subsidiary, Fireside Bank, specializes in automobile loans for the purchase of pre-owned vehicles. Additional information about Unitrin is available by visiting its website (www.unitrin.com). 1 Unitrin uses the registered trademark "Kemper" under license, for personal lines insurance only, from Lumbermens Mutual Casualty Company, which is not affiliated with Unitrin. |
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