A.M. Best Co. has assigned a financial strength rating (FSR) of A- (Excellent) and issuer credit rating (ICR) of "a-" to IGI Insurance Company, Ltd. (IGI) (United Kingdom), which operates through an intercompany quota share reinsurance arrangement with AmTrust International Insurance, Ltd. (AII) (Bermuda). The outlook for both ratings is positive.

The ratings reflect IGI's solid capitalization, improved operating performance within its niche market segments and the benefits derived from its publicly traded parent, AmTrust Financial Services, Inc. (AFSI) [NASDAQ: AFSI], including access to additional capital should it be needed to support IGI's operations. Additionally, the ratings recognize the reinsurance support afforded through an intercompany quota share reinsurance agreement with AII, AFSI's reinsurance subsidiary. Under the contract, AII reinsures 70% of IGI's net written premiums and incurred losses.

Partially offsetting these positive factors are IGI's growth in both premium volumes and associated liabilities in recent years, the execution risk faced by management in achieving its business plans and the risk inherent in profitably growing the business amidst soft market conditions. Despite these concerns, the rating outlook reflects the improved operating results within IGI's market segments, ongoing access to capital and the company's commitment to prudent underwriting through its proven business platform.

On June 12, 2009, A.M. Best affirmed the FSR of A- (Excellent) and ICR of "a-"AII, as well as the ICR of "bbb-" of AFSI. The outlook for all ratings is positive.

For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

A.M. Best Company

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Gordon McLean, 908-439-2200, ext. 5304

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Michelle Baurkot, 908-439-2200, ext. 5507

michelle.baurkot@ambest.com

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Jim Peavy, 908-439-2200, ext. 5644

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Rachelle Morrow, 908-439-2200, ext. 5378

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Source: A.M. Best Company