SEQUOIA INSURANCE COMPANY

NEW YORK, April 22, 2013 -- AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company") announced today that it completed the acquisition of Sequoia Insurance Company and its subsidiaries, Sequoia Indemnity Company and Personal Express Insurance Company ("Sequoia"), for approximately $60 million.

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Sequoia is based in Monterey, California, they have been serving California agents since 1947, and are licensed in all western and most other states. Sequoia designs commercial lines products for western business and provides these through appointed independent agents.

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