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AmTrust Financial Services, Inc. Appoints Adam Karkowsky as New Chief Financial Officer

AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company" or "AmTrust") today announced that Adam Karkowsky, a seasoned finance executive and most recently AmTrust's Executive Vice President, Strategic Development and Mergers & Acquisitions, has been appointed Executive Vice President and Chief Financial Officer, succeeding Ronald Pipoly, Jr.  Mr. Karkowsky's appointment follows a comprehensive search process, which included internal and external candidates, to identify a successor to Mr. Pipoly. Mr. Pipoly, who has served as Chief Financial Officer since 2005, will work with Mr. Karkowsky to ensure an effective and seamless transition of responsibilities. Mr. Karkowsky has been AmTrust's Executive Vice President of Strategic Development and Mergers & Acquisitions since March 2011. In that role, he led the Company's merger and acquisition initiatives and oversaw the implementation of AmTrust's corporate development and corporate strategy. Mr. Karkowsky directed the Company's strategic expansion in the U.S. and internationally. "Adam, with his leadership and knowledge of AmTrust and demonstrated financial expertise, is uniquely qualified to assume the role of CFO," said Barry Zyskind, Chairman and Chief Executive Officer. "Adam is an important leader in guiding the strategic growth of the Company, both domestically and internationally. He has a deep understanding of AmTrust and the property and casualty insurance industry. We look forward to benefitting from Adam's knowledge of our industry and our company in his new role as we work to capitalize on AmTrust's size and scale to achieve meaningful organic growth and significantly increase operational efficiencies across our business." Mr. Karkowsky said, "As part of our focus on operational excellence across the organization, we will be building on the progress that has been made to strengthen AmTrust's financial reporting capabilities and expertise, while also further enhancing our disclosure regarding the Company's business and financial performance." Mr. Zyskind concluded, "On behalf of the entire Board and management team, I want to thank Ron for his many contributions and hard work as CFO over the past twelve years. We look forward to continuing to benefit from Ron's experience and capabilities." Mr. Karkowsky is based at AmTrust's New York City headquarters.