Loss Of Insurance Coverage Letter Template You Will Never Believe These Bizarre Truth Of Loss Of Insurance Coverage Letter Template

HAMILTON, Bermuda–(BUSINESS WIRE)–Majestic Capital, Ltd. (Majestic Capital) (Nasdaq: MAJC) today appear that Bayside Basic Partners LLC (Bayside) has concluded the ahead appear alliance acceding with Majestic Capital. In its abortion notice, Bayside cited a actual abasement in Majestic Capital’s basic surplus, an disability to defended authoritative approval for the merger, and a abortion to amuse the closing action with account to abortion of Majestic Capital’s charter for appointment amplitude in Poughkeepsie, New York on acceding adequate to Bayside. As a aftereffect of Bayside’s abortion of the alliance agreement, Majestic Capital’s ahead appointed Special Accepted Meeting of Shareholders to vote on the alliance acceding appointed for March 28, 2011 has been cancelled.



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The abortion to complete the alliance with Bayside is accepted to aftereffect in a decline of Majestic Allowance Company’s “B ” banking backbone appraisement and a attention proceeding by the California Department of Insurance. As a result, Majestic Basic and its subsidiaries apprehend to seek aegis beneath applicative United States and Bermuda defalcation and added agnate laws for the aegis of creditors.

Majestic Allowance Company, Majestic Capital’s wholly-owned allowance subsidiary, has entered into a non-binding letter of absorbed with AmTrust Banking Services, Inc. (AmTrust) (Nasdaq: AFSI) by which Majestic Allowance Aggregation would advertise AmTrust its face-lifting rights and AmTrust would accept Majestic Allowance Company’s accident affluence and in-force allowance business through a accident portfolio alteration and 100% allocation allotment reinsurance agreement. The affairs advised by the letter of absorbed are accountable to acceding and beheading of absolute agreements and approval by the California Department of Insurance. Majestic Allowance Aggregation has accepted AmTrust an exclusivity aeon until the beforehand of June 20, 2011 and the admission of a attention proceeding. The proposed affairs by Majestic Allowance Aggregation with AmTrust are not accepted to crop any amounts that would be accessible for administration to shareholders of Majestic Capital.

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Pending the closing of the transactions, Majestic Allowance Aggregation will align for workers’ advantage allowance behavior to be underwritten by the AmTrust accumulation companies and reinsured by Majestic Allowance Aggregation beneath the ahead appear 90% allocation allotment reinsurance agreement.



About Majestic Capital, Ltd.

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Majestic Capital, through its subsidiaries, is a specialty provider of workers’ advantage allowance articles and services. Further advice about Majestic Basic and its business can be begin on Majestic Capital’s website at http://www.MajesticCapital.com.

MAJC-E

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About AmTrust Banking Services, Inc.

AmTrust Banking Services, Inc., headquartered in New York, NY is a bunch allowance captivation company, which, through its allowance carriers, offers specialty acreage and blow allowance products, including workers’ compensation, bartering auto and accepted liability; continued account and assurance coverage. For added advice about AmTrust, appointment www.amtrustgroup.com, or alarm AmTrust toll-free at 866.203.3037.

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