Amwest Insurance Group to Close 7 of 35 Branches

Amwest Insurance Group, a Woodland Hills insurance holding company specializing in surety bonds, said it plans to reorganize its branch office distribution system, resulting in the closure of seven of its 35 branches.

The reorganization, aimed at cutting the company’s fixed costs, will result in an after-tax charge to earnings in the second quarter that ended June 30 of about $325,000, Amwest said.

California offices being closed are in Santa Rosa, Pleasant Hill, Fresno and Pasadena; others are in Columbus, Ohio; Orlando, Fla., and Las Vegas.

The closures will be completed by Sept. 30, Amwest said, and business from the closed offices will be consolidated into remaining branches.

In addition, Amwest said it plans to open two new offices in Detroit and St. Louis. It said the 27 employees from the offices scheduled to be closed would be offered positions elsewhere in the company.