This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

AmTrust Financial Services, Inc. Reports Fourth Quarter Operating Earnings(1) Of $34.0 Million And Net Income Of $33.6 Million

Full Year Operating Earnings (1) of $136.5 Million and Net Income of $142.5 Million Book Value Per Share of $12.03, Up 25.3% Since Year-End 2009

Financial Highlights

  • Annualized return on equity of 19.0% and operating (1) return on equity of 19.2% for the quarter
  • Gross written premium of $474.9 million, up 30.0%, and net earned premium of $210.4 million, up 32.0% from fourth quarter 2009
  • Commissions and other revenues of $72.2 million up 65.5% from fourth quarter 2009
  • Operating earnings (1) of $34.0 million up 5.9% from fourth quarter 2009
  • Operating EPS (1) of $0.57 compared to $0.53 in the fourth quarter 2009
  • Net income of $33.6 million up 19.9% from fourth quarter 2009
  • EPS of $0.56 compared to $0.47 in the fourth quarter 2009
  • Combined ratio of 87.6% compared to 81.8% in the fourth quarter 2009
  • Full year return on equity of 22.2% and operating return on equity of 21.2% (1)
  • Full year gross written premium of $1.6 billion, up 30.2%, and net earned premium of $745.7 million, up 29.9% over 2009
  • Full year operating earnings (1) of $136.5 million up 6.9% from 2009
  • Full year operating EPS (1) of $2.26 compared with $2.13 in 2009
  • Full year net income of $142.5 million up 38.0% from 2009
  • Full year EPS of $2.36 compared with $1.72 in 2009
  • Full year combined ratio of 85.3% compared to 79.8% in 2009
  • Book value per share of $12.03, up from $9.60 at year-end 2009

NEW YORK, Feb. 15, 2011 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. (Nasdaq:AFSI) today reported net income of $33.6 million for the fourth quarter of 2010, an increase of 19.9% from $28.1 million in the fourth quarter of 2009. Earnings per diluted share totaled $0.56 in the quarter, up 19.1% from $0.47 in the same period last year. Operating earnings (1) totaled $34.0 million for the quarter, or $0.57 per diluted share, compared with $32.1 million, or $0.53 per diluted share, in the fourth quarter of 2009.

For the full year 2010, net income totaled $142.5 million, up 38.0% from 2009. Earnings per diluted share of $2.36 increased 37.2% from $1.72 in 2009. Operating earnings (1) in 2010 totaled $136.5 million, or $2.26 per share, compared with $127.7 million, or $2.13 per share in the same period last year.

"Our fourth quarter and full year 2010 results reflect the power of our niche-oriented, lower-risk platform as we once again delivered strong returns for our shareholders," said Barry Zyskind, President and Chief Executive Officer of AmTrust Financial Services, Inc. "We remain committed to our core strategy of disciplined underwriting, risk and capital management coupled with strong efficiency centered around our proprietary technology platform." Zyskind continued, "I am proud of the great work of the entire AmTrust team as we continued to capture new market opportunities, broaden our geographic and product reach and enhance our fee and other income streams, which should provide even greater diversity and stability in the future."

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs