AmTrust Announces Solid Profit

Growth For The First Quarter 2015

AmTrust Financial Services (AFSI), the parent company of Warrantech, issued strong
earnings today for the first quarter ended March 31, 2015.

Operating earnings were $121.4 million, or $1.45 per diluted share, an increase of
24.6%, compared to $97.4 million, or $1.24 per diluted share, in the first quarter of
2014. First quarter 2015 net income attributable to common stockholders grew to
$154.7 million, or $1.85 per diluted share, an increase of 54.9% from $99.9 million, or
$1.27 per diluted share, in the first quarter 2014. First quarter 2015 annualized
operating return on common equity was 26.1% compared to 27.8% in the first
quarter 2014. Annualized return on common equity was 33.3% for the first quarter of
2015 compared to 28.5% for the first quarter of 2014.
First Quarter 2015 Results

Total revenue was $1.11 billion, an increase of $0.16 billion, or 16.6%, from $0.95
billion in the first quarter 2014. Gross written premium was $1.73 billion, an increase
of $0.24 billion, or 16.0%, from $1.49 billion in the same period a year ago after
excluding from the first quarter 2014 $174 million in non-recurring gross written

premium from the Cut Through Reinsurance Agreement with Tower

Group International, Ltd. in first quarter 2014.
A summary of Q1 results is listed below, and the earnings release is
linked below as well. Thanks to all of our employees and agents who
contributed to these results. We look forward to having another strong
year and appreciate everyones hard work in making it happen.

Financial Highlights

First Quarter 2015

Gross written premium of $1.73 billion, up 16.0% after excluding from

first quarter 2014 the impact of $174 million of non-recurring gross
written premium related to the Cut Through Reinsurance Agreement with
Tower Group International, Ltd.
Net earned premium of $949.4 million, up 14.5% from first quarter
2014
Operating diluted EPS of $1.45 ($0.07 attributable to gain on life
settlements) compared to $1.24 ($0.02 attributable to gain on life
settlements) in the first quarter 2014
Diluted EPS of $1.85 compared with $1.27 in the first quarter 2014
Annualized operating return on common equity of 26.1% and

 Service and fee income of $112.9 million, up 24.1% from the first
quarter 2014
Operating earnings of $121.4 million compared to $97.4 million from
the first quarter 2014
Net income attributable to common stockholders of $154.7 million
compared to $99.9 million in the first quarter 2014
Combined ratio of 89.0% compared to 89.9% in the first quarter 2014
Book value per common share of $24.00, up from $22.34 at December
31, 2014
AmTrust's stockholders' equity was $2.46 billion as of March 31, 2015
Article Resource:https://warrantech.com/blog/may-2015/amtrust-announces-solid-profit-grow
th-for-the-firs/
To know more click link:- https://www.slideshare.net/warrantech