Amwest Insurance Group Incorporates in Delaware
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Amwest Insurance Group changed its incorporation to Delaware from California, in part to take advantage of a Delaware law that limits the liability of corporate directors in certain types of lawsuits.
Shareholders of Amwest, an insurance holding company headquartered in Woodland Hills, earlier had approved the reincorporation, which also included provisions proposed by Amwest to reduce its exposure to hostile takeover bids.
The provisions, among other things, allow Amwest’s directors to take certain steps to block a takeover attempt without first gaining approval of Amwest’s stockholders.
Amwest said it was not aware of any current bid by outsiders to seek control of the company.
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