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AmTrust Financial Services, Inc.
AFSI ("the Company") announced today that the Company has acquired
First Nonprofit Companies, Inc. ("FNC"). In addition, the Company has entered
into a definitive agreement, pending regulatory and policyholder approval, to
acquire Mutual Insurers Holding Company ("MIHC") following the completion of
the conversion of MIHC to a stock company from a mutual holding company. MIHC
is the parent of First Nonprofit Insurance Company ("FNIC"). During the 12
months following the completion of the transactions, the Company expects the
acquisitions to contribute $0.12 to $0.14 per diluted share.
FNC serves approximately 1,500 nonprofit and government entities. FNC offers
unique services as well as insurance programs underwritten by FNIC which are
designed to allow nonprofit and government entities to economically manage
their unemployment tax obligations.
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