AmTrust Financial Services, the parent company of Warrantech, announced its third quarter financial earnings results this week. Once again the company issued extremely strong financial results, both in top line revenue/premium growth as well as bottom-line profitability.
This is the second quarter in which AmTrust Financial generated more than $1 billion in gross written premium, up 45.8%. Year-to-date gross written premium for 2013 now stands at $3.06 billion, up 50.5% over the YTD 2012 total.
Specialty Risk and Extended Warranty were again listed among the largest premium generators. This speaks volumes about Warrantech’s contribution to the overall strength of AmTrust Financial and is a testament to the hard work of our retailer/dealer network. That partnership and the valuable contributions put forth by our dedicated workforce are a direct result of these noteworthy revenue and profitability earnings totals.
Third Quarter 2013 Financial Highlights
Gross written premium of $1.07 billion, up 45.8%, and net earned premium of $613.9 million, up 58.4% from the third quarter 2012
Operating diluted EPS of $0.83 compared to $0.64 in the third quarter 2012
Annualized operating return on common equity of 21.0% and annualized return on common equity of 18.8%
Service and fee income of $90.0 million, up 101.9% from the third quarter 2012
Operating earnings of $65.1 million compared to $48.8 million from the third quarter 2012
Net income available to common stockholders of $58.2 million compared to $43.2 million in the third quarter 2012
Diluted EPS of $0.74 compared with $0.56 in the third quarter 2012
Combined ratio of 89.6% compared to 90.2% in the third quarter 2012
For more information about Warrantech free visit here:-http://www.ebay.com/gds/Warrantech-Extended-Warranty-Buyers-Beware-Crooks-/10000000007644344/g.html
This is the second quarter in which AmTrust Financial generated more than $1 billion in gross written premium, up 45.8%. Year-to-date gross written premium for 2013 now stands at $3.06 billion, up 50.5% over the YTD 2012 total.
Specialty Risk and Extended Warranty were again listed among the largest premium generators. This speaks volumes about Warrantech’s contribution to the overall strength of AmTrust Financial and is a testament to the hard work of our retailer/dealer network. That partnership and the valuable contributions put forth by our dedicated workforce are a direct result of these noteworthy revenue and profitability earnings totals.
Third Quarter 2013 Financial Highlights
Gross written premium of $1.07 billion, up 45.8%, and net earned premium of $613.9 million, up 58.4% from the third quarter 2012
Operating diluted EPS of $0.83 compared to $0.64 in the third quarter 2012
Annualized operating return on common equity of 21.0% and annualized return on common equity of 18.8%
Service and fee income of $90.0 million, up 101.9% from the third quarter 2012
Operating earnings of $65.1 million compared to $48.8 million from the third quarter 2012
Net income available to common stockholders of $58.2 million compared to $43.2 million in the third quarter 2012
Diluted EPS of $0.74 compared with $0.56 in the third quarter 2012
Combined ratio of 89.6% compared to 90.2% in the third quarter 2012
For more information about Warrantech free visit here:-http://www.ebay.com/gds/Warrantech-Extended-Warranty-Buyers-Beware-Crooks-/10000000007644344/g.html