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AmTrust Financial Services, Inc. - Corporate Solutions

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Strong Premiums & Earnings Growth<br />

$ in millions<br />

Gross Written Premiums<br />

Net Operating Earnings¹<br />

$3,059<br />

$2,749<br />

$179<br />

$192<br />

$183<br />

$2,150<br />

$1,976<br />

$126 $127<br />

$138<br />

$138<br />

$1,111 $1,199 $1,561<br />

2008 2009 2010 2011 2012 YTD12 YTD13<br />

2008 2009 2010 2011 2012 YTD12 YTD13<br />

¹ Net <strong>Inc</strong>ome less after-tax realized investment gain (loss), non-cash amortization of certain intangible assets, non-cash interest on<br />

convertible senior notes net of tax, foreign currency transaction gain (loss), sale of equity investment, gain resulting from a decrease in the<br />

ownership percentage of an equity investment in an unconsolidated subsidiary (related party) net of tax and acquisition gain, net of tax.<br />

Please see the Non-GAAP Reconciliations at the end of this presentation for important information on this Non-GAAP measure.<br />

5

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