Exhibit 99.1


                                                              Charles L. Schultz


                                                              (213) 629-9222

            AMWEST INSURANCE GROUP, INC. ANNOUNCES BANKRUPTCY FILING
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     CALABASAS, CA - July 24, 2001 - Amwest Insurance Group, Inc. (AMEX:AMW;
PCXE:AMW) today announced that it has commenced Chapter 11 bankruptcy
proceedings in the United States Bankruptcy Court for the Central District of
California. The Company will be a debtor in possession, and in due course will
file with the Bankruptcy Court a plan for the reorganization of its debts.

     The bankruptcy filing arose as a result of the June 8, 2001, takeover by
the Director of Insurance of the State of Nebraska of the Company's principal
operating subsidiary, Amwest Surety Insurance Company. Amwest Surety Insurance
Company has been placed in liquidation by the Nebraska Director of Insurance.

     Certain statements contained in this news release regard matters that are
not historical facts and are forward-looking statements. Because such forward-
looking statements include risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking statements.
The Company undertakes no obligation to release publicly the results of any
revisions to these forward-looking statements that may be made to reflect events
or circumstances after the date hereof to reflect the occurrence of
unanticipated events.

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