FROM: FIRST NATIONWIDE TITLE AGENCY
220 East 42nd Street
New York, NY 10017
Contact: Rubenstein Associates, Inc.
Melanie Keenan 212 843-8092
DRAFT FOR APPROVAL 5/20/16
FIRST NATIONWIDE TITLE AGENCY LLC IS
ACQUIRED BY AMTRUST FINANCIAL SERVICES INC.
New York, NY, – May 20, 2016 – First Nationwide Title Agency (FNTA) announced today that it has been acquired by AmTrust Financial Services, Inc. (Nasdaq: AFSI), (“AmTrust” or the “Company”) a multinational insurance holding company, in an all-cash transaction for an undisclosed amount.
Steven Napolitano, founder and former president of FNTA, assumes the title of Senior Executive Vice President of AmTrust Title and President of the Direct Title Division, and will be among the senior management of AmTrust’s expanding title insurance operation.
“We are very excited to be a part of the future growth of title insurance at AmTrust, aid Mr. Napolitano, who added the union with AmTrust should enhance AmTrust’s fee and underwriting revenue.
Established in August 2012, First Nationwide generated approximately $50 million in premiums last year, ranking it among the largest title insurance agencies in the Greater New York Metropolitan area, servicing both commercial and residential real estate customers throughout the United States.
First Nationwide Title Agency
New York City-based First Nationwide Title Agency (FNTA) is one of the country’s preeminent full-service commercial real estate title insurance agencies offering title insurance expertise in the Greater New York marketplace, nationally and to owners, managers, developers and lenders. Known throughout the industry for the experience, service, customer support and depth of knowledge of its underwriters, FNTA is led by industry veteran, Steven M. Napolitano. www. firstnationwidetitle.com/
AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York City, 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. For more information about AmTrust visit www.amtrustgroup.com.