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AmTrust Financial Services, Inc. Announces Its Intent to Acquire Sequoia Insurance Company and Its Subsidiaries

AmTrust Financial Services, Inc. Announces Its Intent to Acquire Sequoia
Insurance Company and Its Subsidiaries

NEW YORK, Jan. 22, 2013 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc.
(Nasdaq:AFSI) ("the Company") announced today that it has entered into a
definitive agreement, pending regulatory approval, to acquire Sequoia
Insurance Company and its subsidiaries, Sequoia Indemnity Company and Personal
Express Insurance Company ("Sequoia") for approximately $60 million.

Sequoia offers a variety of low hazard, property/casualty insurance products
including workers' compensation and commercial package insurance to small
businesses in key western states.In 2012, Sequoia wrote gross written premium
of approximately $140 million.

"We believe current market conditions will continue to provide opportunities
to supplement our organic growth with strategic acquisitions similar to
Sequoia where our proprietary technology, economies of scale, pricing
discipline and experienced management improves the profitability of acquired
insurance businesses in our chosen niche markets," said AmTrust Financial
Services, Inc. President and CEO, Barry Zyskind."In addition, we believe
combining organic growth with appropriate strategic acquisitions maintains
attractive returns on equity and thus, improves shareholder value."

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

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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