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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%; font-size: 10pt">Date of Report (Date of Earliest Event Reported)&nbsp;</TD>
    <TD STYLE="width: 44%; border-bottom: windowtext 1pt solid; font-size: 10pt">August 10, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; font-size: 10pt; text-align: center">AmTrust Financial Services, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Exact name of registrant as specified in its charter)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; font-size: 10pt">Delaware</TD>
    <TD STYLE="width: 34%; border-bottom: windowtext 1pt solid; font-size: 10pt; padding-left: 0.6in">001-33143</TD>
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; font-size: 10pt; text-align: center; padding-left: -0.24in; text-indent: -1.32in">04-3106389</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">(State or other jurisdiction<BR>
 of incorporation)</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.6in">(Commission<BR>
 File Number)</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; border-bottom: windowtext 1pt solid; font-size: 10pt">59 Maiden Lane, 6<SUP>th</SUP> Floor, New York, New York</TD>
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; font-size: 10pt">10038</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">(Address of principal executive offices)</TD>
    <TD STYLE="font-size: 10pt">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; font-size: 10pt">Registrant&rsquo;s telephone number, including area code</TD>
    <TD STYLE="width: 55%; border-bottom: windowtext 1pt solid; font-size: 10pt">(212) 220-7120</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Former name or former address, if changed since last report.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<U>see</U> General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.133-4 (c))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 1.01</B></TD><TD STYLE="text-align: justify"><B>Entry into a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On August 10, 2012, AmTrust Financial Services,
Inc. (the &ldquo;Company&rdquo;) entered into a $200&nbsp;million credit agreement (the &ldquo;Credit Agreement&rdquo;), among
JPMorgan Chase Bank, N.A., as Administrative Agent, KeyBank National Association and SunTrust Bank, as Co-Syndication Agents, Associated
Bank, National Association and Lloyds Securities Inc., as Co-Documentation Agents and the various lending institutions party thereto. The credit facility
is a revolving credit facility with a letter of credit sublimit of $100 million and an expansion feature not to exceed $100 million.
Proceeds of borrowings under the Credit Agreement may be used for working capital, acquisitions and general corporate purposes.
In connection with entering into the Credit Agreement, the Company terminated its existing credit agreement, dated as of January
28, 2011, with JPMorgan Chase Bank, N.A., as Administrative Agent, The Bank of Nova Scotia, as Syndication Agent, SunTrust Bank,
as Documentation Agent, and the various lending institutions party thereto. Letters of credit in the amount of $49.9 million, including
$48.9 million issued and outstanding under the previous credit agreement, will be deemed issued under this Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Credit Agreement contains certain restrictive
covenants customary for facilities of this type (subject to negotiated exceptions and baskets), including restrictions on indebtedness,
liens, acquisitions and investments, restricted payments and dispositions. There are also financial covenants that require the
Company to maintain a minimum consolidated net worth, a maximum consolidated leverage ratio, a minimum fixed charge coverage ratio,
a minimum risk-based capital and a minimum statutory surplus. The Credit Agreement also provides for customary events of default,
with grace periods where customary, including failure to pay principal when due, failure to pay interest or fees within three business
days after becoming due, failure to comply with covenants, breaches of representations and warranties, default under certain other
indebtedness, certain insolvency or receivership events affecting the Company and its subsidiaries, the occurrence of certain material
judgments, or a change in control of the Company. Upon the occurrence and during the continuation of an event of default, the administrative
agent, upon the request of the requisite percentage of the lenders, will terminate the obligations of the lenders to make loans
and to issue letters of credit under the Credit Agreement, declare the Company&rsquo;s obligations under the Credit Agreement to
become immediately due and payable and/or exercise any and all remedies and other rights under the Credit Agreement. The Credit
Agreement has a maturity date of August 10, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Borrowings under the Credit Agreement bear
interest at either the Alternate Base Rate or the LIBO rate. ABR borrowings (which are borrowings bearing interest at a rate determined
by reference to the Alternate Base Rate) under the Credit Agreement will bear interest at (x)&nbsp;the greatest of (a)&nbsp;the
administrative agent&rsquo;s prime rate, (b)&nbsp;the federal funds effective rate <U>plus</U> 0.5&nbsp;percent or (c)&nbsp;the
adjusted LIBO rate for a one-month interest period on such day <U>plus</U> 1&nbsp;percent, <U>plus</U> (y)&nbsp;a margin that is
adjusted on the basis of the Company&rsquo;s consolidated leverage ratio. Eurodollar borrowings under the Credit Agreement will
bear interest at the adjusted LIBO rate for the interest period in effect <U>plus</U> a margin that is adjusted on the basis of
the Company&rsquo;s consolidated leverage ratio. Fees payable by the Company under the Credit Agreement include a letter of credit
participation fee (the margin applicable to Eurodollar borrowings), a letter of credit fronting fee with respect to each letter
of credit (.125%) and a commitment fee on the available commitments of the lenders (a range of .20% to .30% based on the Company&rsquo;s
consolidated leverage ratio).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Certain of the lenders and their affiliates
have provided, from time to time, and may continue to provide, investment banking, commercial banking, financial and other services
to the Company, including letters of credit, depository and account processing services, for which the Company has paid and intends
to pay customary fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The description of the Credit Agreement
is qualified in its entirety by reference to the full text of the agreement, which is filed as Exhibit 10.1 to this Current Report
on Form 8-K and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 1.02</B></TD><TD STYLE="text-align: justify"><B>Termination of a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information contained in Item 1.01 of
this Current Report on Form 8-K is incorporated by reference into this Item 1.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="color: black"><B>Item 2.03</B></FONT></TD><TD STYLE="text-align: justify"><B>Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement<FONT STYLE="color: black">.</FONT></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information contained in Item 1.01 of
this Current Report on Form 8-K is incorporated by reference into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01.</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; border-bottom: windowtext 1pt solid">Exhibit No.</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 86%; border-bottom: windowtext 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Credit Agreement, dated August 10, 2012, among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent, KeyBank National Association and SunTrust Bank, as Co-Syndication Agents, Associated Bank, National Association and Lloyds Securities Inc., as Co-Documentation Agents and the various lending institutions party thereto.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">AmTrust Financial Services, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(Registrant)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">Date</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid">August 10, 2012</TD>
    <TD STYLE="width: 77%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ Stephen Ungar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Stephen Ungar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>General Counsel and Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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{"company-data": {"conformed-name": "Amtrust Financial Services, Inc.", "cik": "0001365555", "assigned-sic": "6331", "irs-number": "043106389", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33143", "film-number": "121024057"}, "business-address": {"street1": "59 MAIDEN LANE", "street2": "6TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10038", "phone": "(212) 220-7120"}, "mail-address": {"street1": "59 MAIDEN LANE", "street2": "6TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10038"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported)
August 10, 2012
AmTrust Financial Services, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-33143
04-3106389
(State or other jurisdiction
of incorporation)
(Commission
File Number)
IRS Employer
Identification No.)
59 Maiden Lane, 6
th
Floor, New York, New York
10038
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(212) 220-7120
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.133-4 (c))
Item 1.01
Entry into a Material Definitive Agreement.
On August 10, 2012, AmTrust Financial Services,
Inc. (the "Company") entered into a $200 million credit agreement (the "Credit Agreement"), among
JPMorgan Chase Bank, N.A., as Administrative Agent, KeyBank National Association and SunTrust Bank, as Co-Syndication Agents, Associated
Bank, National Association and Lloyds Securities Inc., as Co-Documentation Agents and the various lending institutions party thereto. The credit facility
is a revolving credit facility with a letter of credit sublimit of $100 million and an expansion feature not to exceed $100 million.
Proceeds of borrowings under the Credit Agreement may be used for working capital, acquisitions and general corporate purposes.
In connection with entering into the Credit Agreement, the Company terminated its existing credit agreement, dated as of January
28, 2011, with JPMorgan Chase Bank, N.A., as Administrative Agent, The Bank of Nova Scotia, as Syndication Agent, SunTrust Bank,
as Documentation Agent, and the various lending institutions party thereto. Letters of credit in the amount of $49.9 million, including
$48.9 million issued and outstanding under the previous credit agreement, will be deemed issued under this Credit Agreement.
The Credit Agreement contains certain restrictive
covenants customary for facilities of this type (subject to negotiated exceptions and baskets), including restrictions on indebtedness,
liens, acquisitions and investments, restricted payments and dispositions. There are also financial covenants that require the
Company to maintain a minimum consolidated net worth, a maximum consolidated leverage ratio, a minimum fixed charge coverage ratio,
a minimum risk-based capital and a minimum statutory surplus. The Credit Agreement also provides for customary events of default,
with grace periods where customary, including failure to pay principal when due, failure to pay interest or fees within three business
days after becoming due, failure to comply with covenants, breaches of representations and warranties, default under certain other
indebtedness, certain insolvency or receivership events affecting the Company and its subsidiaries, the occurrence of certain material
judgments, or a change in control of the Company. Upon the occurrence and during the continuation of an event of default, the administrative
agent, upon the request of the requisite percentage of the lenders, will terminate the obligations of the lenders to make loans
and to issue letters of credit under the Credit Agreement, declare the Company's obligations under the Credit Agreement to
become immediately due and payable and/or exercise any and all remedies and other rights under the Credit Agreement. The Credit
Agreement has a maturity date of August 10, 2016.
Borrowings under the Credit Agreement bear
interest at either the Alternate Base Rate or the LIBO rate. ABR borrowings (which are borrowings bearing interest at a rate determined
by reference to the Alternate Base Rate) under the Credit Agreement will bear interest at (x) the greatest of (a) the
administrative agent's prime rate, (b) the federal funds effective rate
plus
0.5 percent or (c) the
adjusted LIBO rate for a one-month interest period on such day
plus
1 percent,
plus
(y) a margin that is
adjusted on the basis of the Company's consolidated leverage ratio. Eurodollar borrowings under the Credit Agreement will
bear interest at the adjusted LIBO rate for the interest period in effect
plus
a margin that is adjusted on the basis of
the Company's consolidated leverage ratio. Fees payable by the Company under the Credit Agreement include a letter of credit
participation fee (the margin applicable to Eurodollar borrowings), a letter of credit fronting fee with respect to each letter
of credit (.125%) and a commitment fee on the available commitments of the lenders (a range of .20% to .30% based on the Company's
consolidated leverage ratio).
Certain of the lenders and their affiliates
have provided, from time to time, and may continue to provide, investment banking, commercial banking, financial and other services
to the Company, including letters of credit, depository and account processing services, for which the Company has paid and intends
to pay customary fees.
The description of the Credit Agreement
is qualified in its entirety by reference to the full text of the agreement, which is filed as Exhibit 10.1 to this Current Report
on Form 8-K and incorporated herein by reference.
Item 1.02
Termination of a Material Definitive Agreement.
The information contained in Item 1.01 of
this Current Report on Form 8-K is incorporated by reference into this Item 1.02.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement
.
The information contained in Item 1.01 of
this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01.
Financial Statements and Exhibits.
(d)      	Exhibits.
Exhibit No.
Description
10.1
Credit Agreement, dated August 10, 2012, among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent, KeyBank National Association and SunTrust Bank, as Co-Syndication Agents, Associated Bank, National Association and Lloyds Securities Inc., as Co-Documentation Agents and the various lending institutions party thereto.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AmTrust Financial Services, Inc.
(Registrant)
Date
August 10, 2012
/s/ Stephen Ungar
Stephen Ungar
General Counsel and Secretary