AmTrust Announces Closing of $115 Million 6.75% Non-Cumulative Preferred Stock Offering

AmTrust Announces Closing of $115 Million 6.75% Non-Cumulative Preferred Stock
Offering

NEW YORK, June 10, 2013 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc.
(Nasdaq:AFSI) (the "Company") today announced that it has closed an
underwritten public offering of 4.6 million shares of its 6.75% Non-Cumulative
Preferred Stock, Series A (the "Preferred Stock") with a liquidation
preference of $25.00 per share, or $115 million in aggregate liquidation
preference. The offering was priced on June 3, 2013.

Total net proceeds of the offering were approximately $111 million, after
deducting the underwriting discount and estimated offering expenses payable by
the Company. The Company expects to use the net proceeds from the offering for
general corporate purposes.

This announcement does not constitute an offer to sell or a solicitation of an
offer to buy these securities, nor will there be any offer or sale of these
securities in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful. The Preferred Stock may be offered only by means of
a Prospectus Supplement and accompanying base Prospectus. You may obtain a
copy of the Prospectus Supplement and accompanying Prospectus from the SEC at
www.sec.gov. Alternatively, the underwriters may arrange to send you these
documents if you request them by contacting Morgan Stanley & Co. LLC,
Attention Prospectus Department, 180 Varick Street, New York, NY 10014, or by
email at prospectus@morganstanley.com or from UBS Securities LLC, 299 Park
Avenue, New York, NY 10171, Attention: Prospectus Specialist, (877) 827-6444,
ext. 561 3884.

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, 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., or third party agencies and
warranty administrators, breaches in data security or other disruptions with
our technology, 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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