AmTrust Financial Services, Inc. Announces the Results of the Special Meeting of Members of Mutual Insurers Holding Company

AmTrust Financial Services, Inc. Announces the Results of the Special Meeting
of Members of Mutual Insurers Holding Company

NEW YORK, May 10, 2013 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc.
(Nasdaq:AFSI) ("the Company") announced the results of the special meeting of
members of Mutual Insurers Holding Company ("MIHC") held this morning where
the members approved, among other matters, the conversion of MIHC from a
mutual holding company to stock form. In addition, the Company completed its
offering of shares of its common stock for cash on a subscription basis to
certain of the MIHC members and to directors, officers and employees of MIHC
and its subsidiaries. The Company received subscriptions for $472,421. The
Company sold the shares at a purchase price of $26.17 per share, which
represented a 20% discount to the volume-weighted average trading price of a
share of its common stock, as reported on the NASDAQ Global Select Market, for
the 10-day period ending Thursday, May 9, 2013, which was $32.7094. The
Company will issue 18,052 shares of its common stock to subscribers in the
offering upon the effectiveness of MIHC's amended and restated certificate of
incorporation, which is to be filed with the Delaware Secretary of State on
May 13, 2013.

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.

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., National General Holdings Corp. (formerly 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

company logo
 
Press spacebar to pause and continue. Press esc to stop.