AmTrust referred to as AMT Warranty Declares Net Revenue For The 2nd Quarter 2016

Warrantech’s parent business, AmTrust Financial Services, Inc. (AFSI) today announced 2nd quarter 2016 net income attributable to common stockholders was $134.8 million, or $0.78 per diluted share, when compared to $70.7 million, or $0.42 per diluted share, in the second quarter 2015.

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

2nd Quarter 2016 Final results

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

A summary of Q2 results shows up below and also a link to the net profit release.

Financial Highlights

Second Quarter 2016

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

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

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

• Operating earnings of $140.3 million compared to $130.5 million in the 2nd quarter 2015

• Diluted EPS of $0.78 compared to $0.42 in the second quarter 2015

• Operating diluted EPS of $0.81 compared to $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 second 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/

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