Am Trust Reports Strong Profit Growth for Second Quarter 2014

Information about Am Trust Reports Strong Profit Growth for Second Quarter 2014

Published on August 9, 2014

Author: warrantechbedford

Source: authorstream.com

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  Am Trust Reports Strong Profit Growth for Second Quarter 2014 :   Am Trust Reports Strong Profit Growth for Second Quarter 2014 This marks the fifth quarter in which the company has generated more than $1 billion in gross written premium ($1.44 billion GWP this quarter, an increase of $403 million, or 38.7%, from $1.04 billion in the second quarter of 2013). Small Commercial Business contributed 49% of total company GWP and grew by 170% from 2013 to 2014, while lowering the expense ratio by .2 points. This is quite the impressive performance from both organic and acquired growth as well as cost containment.   On a profitability basis, the company is running at a loss ratio of about 67% and an expense ratio just under 24%. Precisely, AFSI’s Q2 combined ratio was 90.9%, which is an improvement upon the Q2 2013 combined ratio of 92.1%. The majority of that profit improvement came from disciplined underwriting and associated reduction in loss ratio in both Small Commercial Business and, particularly, Specialty Risk & Extended Warranty.   Lastly, the company booked $99.5 million in service and fee income in Q2, up 13% from the same time period last year (and up 28.2% year to date 2014 vs. 2013). Most of that income was contributed by AMT Warranty/ Warrantech , AMT Consumer Services, CNH Capital and Car Care Plan (overseas VSC operation). PowerPoint Presentation: Second Quarter 2014 Financial Highlights   Gross written premium of $1.44 billion, up 38.7%, and net earned premium of $874.9 million, up 63.1% from the second quarter 2013   Operating diluted EPS of $1.34 ($0.03 attributable to loss on life settlements) compared to $0.75 ($0.01 attributable to gain on life settlements) in the second quarter 2013   Annualized operating return on common equity of 28.0% and annualized return on common equity of 27.8%   Service and fee income of $99.5 million, up 13.0% from the second quarter 2013   Operating earnings of $107.1 million compared to $57.4 million from the second quarter 2013 Net income attributable to common stockholders of $106.3 million compared to $71.4 million in the second quarter 2013 PowerPoint Presentation: Diluted EPS of $1.33 compared with $0.93 in the second quarter 2013   Combined ratio of 90.9% compared to 92.1% in the second quarter 201   Service and fee income of $190.5 million, up 28.2% from YTD 2013   Am Trust’s stockholders’ equity was $1.71 billion as of June 30, 2014   For more information about Warrantech free visit here:- http://www.pinterest.com/warrantech/warrantech-automotive/   Article resource:- http://warrantechbedford.blogspot.in/2014/08/amtrust-reports-strong-profit-growth.html

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