AmTrust Financial Services, Inc. Reports Fourth Quarter 2015 Operating Earnings Per Diluted Share(1)(2) of $0.72 and Net Income Per Diluted Share(2) of $0.37
Book Value Per Common Share(2) of $13.81, Up 24% Since December 31, 2014
Financial Highlights
Fourth Quarter 2015

Gross written premium of $1.61 billion, up 10% (14% excluding the impact of European currency fluctuations) compared to $1.46 billion in the fourth quarter 2014
Net earned premium of $1.06 billion, up 16% from $908.2 million in the fourth quarter 2014
Operating diluted EPS(1)(2) of $0.72 compared to $0.73 in the fourth quarter 2014
Diluted EPS(2) of $0.37 compared with $0.44 in the fourth quarter 2014
Annualized operating return on common equity(1) of 21.7% and annualized return on common equity of 11.2%
Service and fee income of $131.4 million, up 29% from $101.7 million in the fourth quarter 2014
Operating earnings(1) of $123.9 million compared to $118.5 million in the fourth quarter 2014
Net income attributable to common stockholders of $63.9 million compared to $71.6 million in the fourth quarter 2014
Combined ratio of 91.9% compared to 90.8% in the fourth quarter 2014
Weighted average diluted shares outstanding(2) of 172.0 million, up 6% compared to 162.1 million in the fourth quarter 2014

Full Year 2015

Gross written premium of $6.80 billion, up 12% (14% excluding the impact of European currency fluctuations) compared to $6.09 billion in 2014
Net earned premium of $4.02 billion, up 14% from $3.53 billion in 2014
Operating diluted EPS(1)(2) of $3.13 compared to $2.87 in 2014
Diluted EPS(2) of $2.80 compared with $2.72 in 2014
Operating return on common equity(1) of 25.3% and return on common equity of 22.7%
Service and fee income of $478.2 million, up 17% from $409.7 million in 2014
Operating earnings(1) of $526.7 million, up 15% compared to $458.4 million in 2014
Net income attributable to common stockholders of $472.0 million compared to $434.3 million in 2014
Combined ratio of 91.0% compared to 90.7% in 2014
Book value per common share(2) of $13.81, up 24% from $11.17 at December 31, 2014
AmTrust's stockholders' equity was $2.91 billion as of December 31, 2015, up 43% compared to $2.04 billion as of December 31, 2014
Weighted average diluted shares outstanding(2) of 168.4 million, up 6% compared to 159.0 million in 2014

NEW YORK, February 10, 2016 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. (Nasdaq:AFSI) ("the Company" or "AmTrust") today announced continued growth of operating earnings
(1) and strong operating return on equity(1) for the fourth quarter and full year of 2015.
For the fourth quarter 2015, operating earnings(1) were $123.9 million, or $0.72 per diluted share(2) compared to $118.5 million, or $0.73 per diluted share(2), in the fourth quarter of 2014. Fourth quarter 2015 net income attributable to common stockholders was $63.9 million, or $0.37 per diluted share(2), compared to $71.6 million, or $0.44 per diluted share(2), in the fourth quarter 2014. Fourth quarter 2015 annualized operating return on common equity(1) was 21.7% compared to 27.7% in the fourth quarter 2014. Annualized return on common equity was 11.2% for the fourth quarter of 2015 compared to 16.7% for the fourth quarter of 2014.

1

The following information was filed by Amtrust Financial Services, Inc. (AFSI) on Wednesday, February 10, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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