AmTrust Financial Services, Inc. Reports Strong Profit Growth For Second Quarter 2014 With Operating Earnings(1) Per Diluted Share Rising 78.7% To $1.34 And Net Income Of $1.33 Per Diluted Share

Book Value Per Common Share of $21.13, Up 19.1% Since December 31, 2013

Financial Highlights

Second Quarter 2014
  • 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 (1) 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 (1) 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 (1) 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 (3) million in the second quarter 2013
  • 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 2013

YTD 2014
  • Gross written premium of $3.11 billion, up 56.7%, and net earned premium of $1.70 billion, up 80.4% over YTD 2013
  • Operating diluted EPS (1) of $2.58 ($(0.02) attributable to loss on life settlements) compared to $1.49 ($0.00 attributable to loss on life settlements) in YTD 2013
  • Annualized operating return on common equity (1) of 28.0% and annualized return on common equity of 28.2%
  • Service and fee income of $190.5 million, up 28.2% from YTD 2013
  • Operating earnings (1) of $204.5 million compared to $114.5 million from YTD 2013
  • Net income attributable to common stockholders of $206.1 million compared to $155.3 (3) million in YTD 2013
  • Diluted EPS of $2.60 compared with $2.02 in YTD 2013
  • Combined ratio of 90.4% compared to 91.8% in YTD 2013
  • Book value per common share of $21.13, up from $17.85 at December 31, 2013
  • AmTrust's stockholders' equity was $1.71 billion as of June 30, 2014

NEW YORK, Aug. 7, 2014 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. (Nasdaq:AFSI) ("the Company") today announced strong profit growth for the second quarter ended June 30, 2014.

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