AmTrust Financial Files SEC Form 12b-25
01 Março 2018 - 9:06AM
AmTrust Financial Services, Inc.
(Nasdaq:AFSI) (“AmTrust” or the “Company”) announced today that it
filed a Form 12b-25 with the Securities and Exchange Commission,
providing the Company an automatic 15-day extension to file its
Form 10-K for the year ended December 31, 2017. The Company
plans to file its Form 10-K no later than March 16, 2018. The
Company needs additional time to complete its consolidated
financial statements for the fiscal year ended December 31, 2017.
The Company’s management continues to evaluate the previously
disclosed material weaknesses in its internal controls. While the
Company believes significant progress has been made in enhancing
internal controls, the material weaknesses have not been fully
remediated and the Company will continue the process to enhance
internal controls throughout 2018.
About AmTrust Financial Services, Inc. AmTrust
Financial Services, Inc., a multinational insurance holding company
headquartered in New York, offers specialty property and casualty
insurance products, including workers' compensation, commercial
automobile, general liability and extended service and warranty
coverage through its primary insurance subsidiaries rated "A"
(Excellent) by A.M. Best. AmTrust is included in the Fortune 500
list of largest companies. For more information about AmTrust visit
www.amtrustfinancial.com.
Forward Looking Statements
This news release contains certain forward-looking statements
that are intended to be covered by the safe harbors created by the
Private Securities Litigation Reform Act of 1995. When we use words
such as "anticipate," "intend," "plan," "believe," "estimate,"
"expect," or similar expressions, we do so to identify
forward-looking statements. Examples of forward-looking statements
include the plans and objectives of management for future
operations, including those relating to future growth of our
business activities and availability of funds, and estimates of the
impact of material weaknesses in our internal control over
financial reporting, and are based on current expectations that
involve assumptions that are difficult or impossible to predict
accurately and many of which are beyond our control. Actual results
may differ materially from those expressed or implied in these
statements as a result of significant risks and uncertainties,
including, but not limited to, non-receipt of expected payments
from insureds or reinsurers, changes in interest rates, a downgrade
in the financial strength ratings of our insurance subsidiaries,
the effect of the performance of financial markets on our
investment portfolio, the amounts, timing and prices of any share
repurchases made by us under our share repurchase program,
development of claims and the effect on loss reserves, accuracy in
projecting loss reserves, the cost and availability of reinsurance
coverage, the effects of emerging claim and coverage issues,
changes in the demand for our products, our degree of success in
integrating acquired businesses, the effect of general economic
conditions, state and federal legislation, regulations and
regulatory investigations into industry practices, our ability to
timely and effectively remediate the material weaknesses in our
internal control over financial reporting and implement effective
internal control over financial reporting and disclosure controls
and procedures in the future, risks associated with conducting
business outside the United States, the impact of Brexit,
developments relating to existing agreements, disruptions to our
business relationships with Maiden Holdings, Ltd. or National
General Holdings Corp., breaches in data security or other
disruptions with our technology, our ability to keep pace with
technological changes, heightened competition, changes in pricing
environments, and changes in asset valuations. 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 our filings with the SEC, including our
Annual Report on Form 10-K and our quarterly reports on Form 10-Q.
The projections and statements in this news release speak only as
of the date of this release and we undertake no obligation to
update or revise any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as may
be required by law.
AmTrust Financial Services Chaya
CooperbergChief Communications Officer & SVP Corporate
Affairschaya.cooperberg@amtrustgroup.com(646) 458-3332
Jisoo SuhDirector of Investor
Relationsjisoo.suh@amtrustgroup.com(646) 458-3367
Hunter HoffmannGlobal Director of Public
RelationsHunter.Hoffmann@amtrustgroup.com646.458.3362
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