AmTrust Financial Services, Inc. Announces Its Intent to Acquire The Insco Dico Group

AmTrust Financial Services, Inc. Announces Its Intent to Acquire The Insco
Dico Group

NEW YORK, Sept. 18, 2013 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc.
(Nasdaq:AFSI) ("the Company") announced today that it has entered into a
definitive agreement to acquire The Insco Dico Group ("Insco Dico") for
approximately $85 million, or $7.0 million above its tangible book value. The
acquisition is to be funded through existing working capital. The Company
expects the transaction to close within the next six months pending regulatory
approval.

Insco Dico's subsidiaries include Developers Surety and Indemnity Company and
Indemnity Company of California, which offer surety insurance to developers
and contractors in all 50 states with California as the largest state. In
addition, Insco Dico's subsidiary, Builders Insurance Services, markets
general liability insurance policies to contractors in several western
states.In 2012, Insco Dico generated approximately $50 million in insurance
premium.

"Insco Dico significantly enhances the Company's presence in the domestic
surety insurance market and expands our operations with new insurance
products, additional distribution and unique industry expertise," said AmTrust
Financial Services, Inc. President and CEO, Barry Zyskind."In addition, we
believe the improving trends in the economy and housing market will increase
demand for Insco Dico's surety insurance."

FBR Capital Markets & Co. served as financial advisor to AmTrust.

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., 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

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