AmTrust known as AMT Warranty Pronounces Net Earnings For The 2nd Quarter 2016

Warrantech’s parent firm, AmTrust Financial Services, Inc. (AFSI) today announced second quarter 2016 net income as a result of common stockholders was $134.8 million, or $0.78 per diluted share, compared with $70.7 million, or $0.42 per diluted share, in the second quarter 2015.

For the second quarter 2016, running profits was in fact $140.3 million, or $0.81 per diluted share, when compared to $130.5 million, or $0.78 per diluted share, within the 2nd quarter of 2015. Annualized return on common equity was 21.1% with regard to the 2nd quarter of 2016 as compared to 14.3% for the second quarter of 2015. Second quarter 2016 annualized operating return on common equity was 21.9% as compared with 26.3% in the 2nd quarter 2015.

2nd Quarter 2016 Outcomes

Total profits seemed to be $1.39 billion, an improvement of $0.28 billion, or 25%, from $1.11 billion within the second quarter 2015. Gross written premium was basically $2.07 billion, an increase of $0.39 billion, or 24%, through $1.68 billion inside the second quarter of 2015. Net written premium was $1.27 billion, an improvement of $0.26 billion, or 26%, compared to $1.01 billion in the second quarter 2015. Net earned premium was $1.18 billion, an increase of $0.21 billion, or 22%, from $0.97 billion inside the second quarter 2015. The actual merged ratio was 91.7% as compared to 90.5% in 2nd quarter 2015.

A summary of Q2 results shows up below along with a link to the gains release.

Financial Highlights

2nd Quarter 2016

• Gross written premium of $2.07 billion, up 23.5% compared to $1.68 billion in the 2nd quarter 2015

• Net earned premium of $1.18 billion, up 22.0% from $0.97 billion inside the second quarter 2015

• Net income attributable to common stockholders of $134.8 million as compared to $70.7 million inside the second quarter 2015

• Operating earnings of $140.3 million as compared with $130.5 million in the second quarter 2015

• Diluted EPS of $0.78 in comparison with $0.42 in the second quarter 2015

• Operating diluted EPS of $0.81 in comparison with $0.78 in the second quarter 2015

• Annualized return on common equity of 21.1% and annualized operating return on common equity of 21.9%

• Service and fee income of $138.3 million, up 28% from $107.7 million in the 2nd quarter 2015

• Combined ratio of 91.7% compared to 90.5% in the second quarter 2015

• Weighted average diluted shares outstanding of 173.0 million, up 3% compared to 168.1 million in the 2nd quarter 2015

• Repurchased 3.58 million common shares at a weighted average price of $24.82 per share

Article Resource:-https://amtwarranty.wordpress.com/2016/08/04/amtrust-announces-net-income-for-the-second-quarter-2016/

Posted August 26, 2016 06:34