AmTrust Reports Fourth Quarter 2016 Net Income, Reflecting Strengthening Of Reserves

Published on March 2017 | Categories: Finance | Downloads: 52 | Comments: 0 | Views: 253
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Fourth quarter and full year combined ratio of 95.5% and 92.1%, respectively AmTrust Financial Services, Inc. (Nasdaq:AFSI) (“the Company” or “AmTrust”) today announced fourth quarter 2016 net income attributable to common stockholders of $98.7 million, or $0.57 per diluted share, compared to $59.7 million, or $0.35 per diluted share in the fourth quarter 2015. For the fourth quarter 2016, operating earnings was $66.3 million, or $0.38 per diluted share, compared to $115.7 million, or $0.67 per diluted share, in the fourth quarter 2015. The decrease in net income attributable to common stockholders and operating earnings reflects a reserve charge of $65.0 million, or approximately $0.24 per diluted share, primarily related to strengthening of prior year loss and loss adjustment reserves in our Specialty Program segment.

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Fourth quarter and full year combined ratio of 95.5% and 92.1%, respectively AmTrust Financial Services, Inc. (Nasdaq:AFSI) (“the Company” or “AmTrust”) today announced fourth quarter 2016 net income attributable to common stockholders of $98.7 million, or $0.57 per diluted share, compared to $59.7 million, or $0.35 per diluted share in the fourth quarter 2015. For the fourth quarter 2016, operating earnings was $66.3 million, or $0.38 per diluted share, compared to $115.7 million, or $0.67 per diluted share, in the fourth quarter 2015. The decrease in net income attributable to common stockholders and operating earnings reflects a reserve charge of $65.0 million, or approximately $0.24 per diluted share, primarily related to strengthening of prior year loss and loss adjustment reserves in our Specialty Program segment.

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