Amwest Board OKs Buyback of 4% of Its Common Stock

Amwest Insurance Group Inc., Calabasas, announced that its board of directors has voted to authorize management to spend up to $1.5 million through Dec. 31, 2001, to buy back about 4% of its common stock in open market and privately negotiated transactions.

Amwest is an insurance holding company underwriting surety and specialty property and casualty insurance through its wholly owned subsidiaries, Amwest Surety Insurance Co., Far West Insurance Co. and Condor Insurance Co.