AmTrust Financial Services, Inc. Announces the Acquisition of First Nonprofit Companies, Inc. and the Intent to Acquire Mutual

AmTrust Financial Services, Inc. Announces the Acquisition of First Nonprofit
Companies, Inc. and the Intent to Acquire Mutual Insurers Holding Company

NEW YORK, Jan. 2, 2013 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc.
(Nasdaq:AFSI) ("the Company") announced today that the Company has acquired
First Nonprofit Companies, Inc. ("FNC"). In addition, the Company has entered
into a definitive agreement, pending regulatory and policyholder approval, to
acquire Mutual Insurers Holding Company ("MIHC") following the completion of
the conversion of MIHC to a stock company from a mutual holding company. MIHC
is the parent of First Nonprofit Insurance Company ("FNIC"). During the 12
months following the completion of the transactions, the Company expects the
acquisitions to contribute $0.12 to $0.14 per diluted share.

FNC serves approximately 1,500 nonprofit and government entities. FNC offers
unique services as well as insurance programs underwritten by FNIC which are
designed to allow nonprofit and government entities to economically manage
their unemployment tax obligations.

FNIC is the third largest provider of property & casualty insurance products
to nonprofit organizations in the U.S.In 2012, FNIC wrote $70 million of
premiums in 27 states.FNIC's profitability is the result of a niche market
focus and an appetite for low hazard business.

"We believe the acquisitions will be accretive to earnings and advance our
strategy of focusing on niche, low hazard business.FNC adds to our growing
fee income while the proposed acquisition of MIHC and MIHC's subsidiary FNIC
provides the Company with insurance capabilities targeted to the nonprofit
market. We are confident that incorporating the combined entities into our
Company creates an excellent insurance and related product offering to the
nonprofit market," said AmTrust Financial Services, Inc. President and CEO,
Barry Zyskind. "FNC's fee business provides the Company with talent and
management expertise to successfully market unique insurance products and
services while the proposed acquisition of FNIC establishes for the Company a
profitable insurance platform for the nonprofit market."

About AmTrust Financial Services, Inc.

AmTrust Financial Services, Inc., headquartered in New York City, is a
multinational insurance holding company, which, through its insurance
carriers, offers specialty property and casualty insurance products, including
workers' compensation, commercial automobile and general liability; extended
service and warranty coverage.For more information about AmTrust, visit
www.amtrustgroup.com, or call AmTrust toll-free at 866.203.3037.

The AmTrust Financial Services, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3280

Forward Looking
Statements

This news release contains "forward-looking statements" that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. The forward-looking statements are based on the Company's current
expectations and beliefs concerning future developments and their potential
effects on the Company. There can be no assurance that actual developments
will be those anticipated by the Company.Actual results may differ materially
from those expressed or implied in these statements as a result of significant
risks and uncertainties, including, but not limited to, non-receipt of
expected payments from insureds or reinsurers, changes in interest rates, a
downgrade in the financial strength ratings of our insurance subsidiaries, the
effect of the performance of financial markets on our investment portfolio,
our estimates of the fair value of our life settlement contracts, development
of claims and the effect on loss reserves, accuracy in projecting loss
reserves, the cost and availability of reinsurance coverage, the effects of
emerging claim and coverage issues, changes in the demand for our products,
our degree of success in integrating acquired businesses, the effect of
general economic conditions, state and federal legislation, regulations and
regulatory investigations into industry practices, risks associated with
conducting business outside the United States, developments relating to
existing agreements, disruptions to our business relationships with Maiden
Holdings, Ltd., American Capital Acquisition Corporation, or third party
agencies and warranty administrators, difficulties with technology or breaches
in data security, heightened competition, changes in pricing environments, and
changes in asset valuations.The forward-looking statements contained in this
news release are made only as of the date of this release. The Company
undertakes no obligation to publicly update any forward-looking statements
except as may be required by law. Additional information about these risks and
uncertainties, as well as others that may cause actual results to differ
materially from those projected, is contained in the Company's filings with
the Securities and Exchange Commission, including its annual report on Form
10-K and its quarterly reports on Form 10-Q.

AFSI-F

AmTrust Financial Services, Inc.
59 Maiden Lane 6th Floor
New York, NY 10038
855.327.2223
212.220.7130 fax
www.amtrustgroup.com

CONTACT: AmTrust Financial Services, Inc.
        
         Investor Relations
         Elizabeth Malone CFA
         beth.malone@amtrustgroup.com
         646.458.7924
        
         Hilly Gross
         hilly.gross@amtrustgroup.com
         646.458.7925

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