This deal assigns a value of up to $167.5m to Kestrel, comprising $40m in cash, 55 million common shares of the new company valued at $82.5m, and an earnout of up to $45m payable in common shares.

AmTrust RE is placing a bet on New York's strong recovering office sector with a new $65.5 million acquisition of a Midtown East, Manhattan building. The 268,000-square-foot property, called 360 ...