AmTrust Announces Sustained Progress of Operated Income For The Very first Quarter 2016

AmTrust Financial Services, Inc. (AFSI) at present declared continued growth of operating earnings and strong operating return on equity for the 1st quarter of 2016.

For the first quarter 2016, operating earnings were actually $136.6 million, or $0.77 per diluted stock, when compared to $121.4 million, or $0.73 per diluted share, within the first quarter of 2015. First quarter 2016 net profit because of frequent stockholders was $100.3 million, or $0.56 per diluted stock, compared to $154.7 million, or $0.93 per diluted stock, within the initial quarter 2015. Initial quarter 2016 annualized operating return on common equity had been 22.1% in comparison with 26.1% in the very first quarter 2015. Annualized return on common equity was 16.2% for the initial quarter of 2016 in comparison to 33.3% for the first quarter of 2015.

Initial Quarter 2016 Results

Total profits was basically $1.28 billion, an increase of $0.16 billion, as well as 15%, from $1.11 billion inside the first quarter 2015. Gross written premium appeared to be $1.93 billion, a boost of $0.20 billion, or 12%, from $1.73 billion in the first quarter of 2015. Net written premium was $1.22 billion, an improvement of $0.18 billion, or 17%, as compared with $1.04 billion within the initial quarter 2015. Net earned premium was $1.07 billion, an increase of $0.12 billion, or 13%, from $0.95 billion in the first quarter 2015. The actual combined percentage was 91.2% as compared to 89.0% within first quarter 2015.

A summary of Q1 results shows up below along with a link to the income release.

Financial Features

1st Quarter 2016

• Gross written premium of $1.93 billion, upward 12% in comparison with $1.73 billion in the first quarter 2015

• Net earned premium of $1.07 billion, upward 13% from $0.95 billion within the 1st quarter 2015

• Operating diluted EPS of $0.77 in comparison with $0.73 in the first quarter 2015

• Diluted EPS of $0.56 when compared with $0.93 in the 1st quarter 2015

• Annualized operating return on common equity of 22.1% and also annualized return on common equity of 16.2%

• Service along with fee income of $144.2 million, up 28% from $112.9 million within the initial quarter 2015

• Operating earnings of $136.6 million compared to $121.4 million within the 1st quarter 2015

• Net income attributable to common stockholders of $100.3 million in comparison with $154.7 million within the first quarter 2015

• Combined ratio of 91.2% when compared with 89.0% inside the first quarter 2015

• Weighted average diluted stocks outstanding of 177.9 million, up 7% when compared to 166.9 million inside the first quarter 2015

• Book value per common share of $14.35, up 20% from $12.00 at March 31, 2015

• AmTrust’s stockholders’ value was $3.14 billion as of March 31, 2016, way up 8% in comparison with $2.91 billion as of December 31, 2015

Posted August 30, 2016 07:50