Open Lending Extends Partnership with AmTrust, Securing Long-Term Credit Capacity

Open Lending (LPRO) has extended its partnership with AmTrust North America until 2033, securing long-term credit capacity and reflecting AmTrust's confidence in Open Lending's business model. The agreement builds upon a 15-year relationship, providing insurance coverage to credit unions via Lender's Protection™ Program. Open Lending's CEO, Jessica Buss, expressed gratitude for the partnership extension.

Open Lending Corporation (NASDAQ: LPRO), a leading provider of automotive lending enablement and risk analytics solutions, has announced an early extension of its producer agreement with AmTrust North America, Inc., a subsidiary of AmTrust Financial Services, Inc. [1]. The agreement, initially set to expire in 2028, has been extended through 2033.

This extension reflects a strong and longstanding partnership between Open Lending and AmTrust, which began over 15 years ago. AmTrust provides insurance coverage to Open Lending's credit unions through the company's Lender's Protection™ Program. The extension not only secures Open Lending's credit capacity but also demonstrates AmTrust's confidence in Open Lending's technology-driven business model and ability to generate profitable business [2].

Open Lending's CEO, Jessica Buss, expressed gratitude for the partnership extension, stating, "We are deeply grateful for their partnership and look forward to building value together in the years ahead." Barry Zyskind, Chairman and CEO of AmTrust, also highlighted the significance of the extension, noting that Open Lending has created an innovative and technology-driven business to bring the dream of car ownership to hundreds of thousands of Americans [1].

Open Lending provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years, the company has empowered financial institutions to create profitable auto loan portfolios with less risk and more reward. AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers' compensation, business owner’s policy (BOP), general liability, and extended service and warranty coverage [1].

References:
[1] https://finance.yahoo.com/news/open-lending-announces-early-extension-200500762.html
[2] https://www.stocktitan.net/news/LPRO/open-lending-announces-early-extension-of-am-trust-producer-smofy72gli2y.html