AmTrust Financial Services, Inc. Announces Leadership Change in Europe
NEW YORK, Sept. 13, 2010 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. ("AmTrust") (Nasdaq:AFSI) announced today that, effective immediately, Max Caviet, EVP and head of AmTrust's European operations, has been named CEO of AmTrust Europe, Ltd. (formerly known as IGI Insurance Company, Ltd.) The role was previously held by Keith Wardell, who has resigned to pursue other interests.
"Since joining AmTrust in 2003, Max has been instrumental in building out our very successful European platform and his 35 years of industry experience gives us great confidence in his ability to continue to move this business forward," said Barry Zyskind, AmTrust CEO and President. "This step reflects our continued commitment to seamlessly providing the highest quality products and services to our clients while also maintaining strong efficiency. We appreciate Keith's contributions to the Company and wish him all the best in his new endeavors."
Caviet also serves as President of both AmTrust International Insurance, Ltd. and AmTrust International Underwriters, Ltd.
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, and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustgroup.com, or call AmTrust toll-free at 866.203.3037.
The AmTrust Financial Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3280
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 projected as a result of significant risks and uncertainties, including, but not limited to, non-receipt of the expected payments, changes in interest rates, effect of the performance of financial markets on investment income and fair values of investments, development of claims and the effect on loss reserves, accuracy in projecting loss reserves, the impact of competition and pricing environments, changes in the demand for the Company's products, the effect of general economic conditions, adverse state and federal legislation, regulations and regulatory investigations into industry practices, developments relating to existing agreements, heightened competition, changes in pricing environments, and changes in asset valuations. The forward-looking statements contained in this new 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.
CONTACT: AmTrust Financial Services, Inc. Investor Relations Ellen Taylor 212.220.7120 IR@amtrustgroup.com
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