<SEC-DOCUMENT>0001172661-24-003092.txt : 20240806 <SEC-HEADER>0001172661-24-003092.hdr.sgml : 20240806 <ACCEPTANCE-DATETIME>20240806120747 ACCESSION NUMBER: 0001172661-24-003092 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240806 DATE AS OF CHANGE: 20240806 EFFECTIVENESS DATE: 20240806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Amtrust Financial Services, Inc. CENTRAL INDEX KEY: 0001365555 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] ORGANIZATION NAME: 02 Finance IRS NUMBER: 043106389 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-17705 FILM NUMBER: 241178038 BUSINESS ADDRESS: STREET 1: 59 MAIDEN LANE STREET 2: 43RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10038 BUSINESS PHONE: (212) 220-7120 MAIL ADDRESS: STREET 1: 59 MAIDEN LANE STREET 2: 43RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10038 </SEC-HEADER> <DOCUMENT> <TYPE>13F-HR <SEQUENCE>1 <FILENAME>primary_doc.xml <TEXT> <XML> <?xml version="1.0" encoding="UTF-8"?> <edgarSubmission xsi:schemaLocation="http://www.sec.gov/edgar/thirteenffiler eis_13F_Filer.xsd" xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:ns1="http://www.sec.gov/edgar/common" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"> <schemaVersion>X0202</schemaVersion> <headerData> <submissionType>13F-HR</submissionType> <filerInfo> <liveTestFlag>LIVE</liveTestFlag> <flags> <confirmingCopyFlag>false</confirmingCopyFlag> <returnCopyFlag>true</returnCopyFlag> <overrideInternetFlag>false</overrideInternetFlag> </flags> <filer> <credentials> <cik>0001365555</cik> <ccc>XXXXXXXX</ccc> </credentials> </filer> <periodOfReport>06-30-2024</periodOfReport> </filerInfo> </headerData> <formData> <coverPage> <reportCalendarOrQuarter>06-30-2024</reportCalendarOrQuarter> <isAmendment>false</isAmendment> <filingManager> <name>Amtrust Financial Services, Inc.</name> <address> <ns1:street1>59 Maiden Lane</ns1:street1> <ns1:street2>43rd Floor</ns1:street2> <ns1:city>New York</ns1:city> <ns1:stateOrCountry>NY</ns1:stateOrCountry> <ns1:zipCode>10038</ns1:zipCode> </address> </filingManager> <reportType>13F HOLDINGS REPORT</reportType> <form13FFileNumber>028-17705</form13FFileNumber> <provideInfoForInstruction5>N</provideInfoForInstruction5> </coverPage> <signatureBlock> <name>Todd Jaeger</name> <title>Chief Investment Officer</title> <phone>212-220-7120</phone> <signature>/s/ Todd Jaeger</signature> <city>New York</city> <stateOrCountry>NY</stateOrCountry> <signatureDate>08-06-2024</signatureDate> </signatureBlock> <summaryPage> <otherIncludedManagersCount>0</otherIncludedManagersCount> <tableEntryTotal>14</tableEntryTotal> <tableValueTotal>205631529</tableValueTotal> </summaryPage> </formData> </edgarSubmission> </XML> </TEXT> </DOCUMENT> <DOCUMENT> <TYPE>INFORMATION TABLE <SEQUENCE>2 <FILENAME>infotable.xml <TEXT> <XML> <?xml version="1.0" ?> <informationTable xsi:schemaLocation="http://www.sec.gov/edgar/document/thirteenf/informationtable eis_13FDocument.xsd" xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:n1="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"> <infoTable> <nameOfIssuer>ARBOR REALTY TRUST INC</nameOfIssuer> <titleOfClass>NOTE 7.500% 8/0</titleOfClass> <cusip>038923BA5</cusip> <value>527340</value> <shrsOrPrnAmt> <sshPrnamt>528000</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>528000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>BLACKSTONE MORTGAGE TRUST IN</nameOfIssuer> <titleOfClass>NOTE 5.500% 3/1</titleOfClass> <cusip>09257WAE0</cusip> <value>8310970</value> <shrsOrPrnAmt> <sshPrnamt>9286000</sshPrnamt> <sshPrnamtType>PRN</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>9286000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>CLIPPER RLTY INC</nameOfIssuer> <titleOfClass>COM</titleOfClass> <cusip>18885T306</cusip> <value>837336</value> <shrsOrPrnAmt> <sshPrnamt>231949</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>231949</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>GE HEALTHCARE TECHNOLOGIES I</nameOfIssuer> <titleOfClass>COMMON STOCK</titleOfClass> <cusip>36266G107</cusip> <value>243500</value> <shrsOrPrnAmt> <sshPrnamt>3125</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>3125</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ISHARES BITCOIN TR</nameOfIssuer> <titleOfClass>SHS</titleOfClass> <cusip>46438F101</cusip> <value>1194900</value> <shrsOrPrnAmt> <sshPrnamt>35000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>35000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ISHARES TR</nameOfIssuer> <titleOfClass>CORE S&P500 ETF</titleOfClass> <cusip>464287200</cusip> <value>72124914</value> <shrsOrPrnAmt> <sshPrnamt>131800</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>131800</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ISHARES TR</nameOfIssuer> <titleOfClass>ISHS 1-5YR INVS</titleOfClass> <cusip>464288646</cusip> <value>18846072</value> <shrsOrPrnAmt> <sshPrnamt>367800</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>367800</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ISHARES TR</nameOfIssuer> <titleOfClass>CORE US AGGBD ET</titleOfClass> <cusip>464287226</cusip> <value>9567219</value> <shrsOrPrnAmt> <sshPrnamt>98560</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>98560</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ISHARES TR</nameOfIssuer> <titleOfClass>RUSSELL 2000 ETF</titleOfClass> <cusip>464287655</cusip> <value>4504158</value> <shrsOrPrnAmt> <sshPrnamt>22200</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>22200</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>LEMONADE INC</nameOfIssuer> <titleOfClass>COM</titleOfClass> <cusip>52567D107</cusip> <value>934626</value> <shrsOrPrnAmt> <sshPrnamt>56644</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>56644</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SPDR SER TR</nameOfIssuer> <titleOfClass>PORTFOLIO AGRGTE</titleOfClass> <cusip>78464A649</cusip> <value>6287554</value> <shrsOrPrnAmt> <sshPrnamt>250600</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>250600</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SPDR SER TR</nameOfIssuer> <titleOfClass>PORTFOLIO INTRMD</titleOfClass> <cusip>78464A375</cusip> <value>8804224</value> <shrsOrPrnAmt> <sshPrnamt>270400</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>270400</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer> <titleOfClass>LARGE CAP ETF</titleOfClass> <cusip>922908637</cusip> <value>11432596</value> <shrsOrPrnAmt> <sshPrnamt>45800</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>45800</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer> <titleOfClass>S&P 500 ETF SHS</titleOfClass> <cusip>922908363</cusip> <value>62016120</value> <shrsOrPrnAmt> <sshPrnamt>124000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>124000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> </informationTable> </XML> </TEXT> </DOCUMENT> </SEC-DOCUMENT>