AmTrust Financial Services Q2 Profit Increases - Quick Facts

(RTTNews) - AmTrust Financial Services Inc. (AFSI) said that its second quarter 2014 net income attributable to common stockholders grew to $106.3 million or $1.33 per share from $71.4 million or $0.93 per share, in the second quarter 2013.

Operating earnings were $107.1 million, or $1.34 per share, compared to $57.4 million, or $0.75 per share, in the second quarter of 2013.

Total revenue was $1.01 billion, an increase of $361.6 million, or 55.7%, from $649.3 million in the second quarter 2013. Gross written premium was $1.44 billion, an increase of $403.0 million, or 38.7%, from $1.04 billion in the same period a year ago. The cut-through reinsurance agreement with Tower International Group, Ltd. contributed approximately $139 million to gross written premium.

Net written premium of $923.7 million rose $283.7 million, or 44.3%, from $640.0 million in the second quarter 2013. Net earned premium of $874.9 million increased $338.4 million, or 63.1%, from $536.5 million in the second quarter 2013.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.00 per share and revenues of $824.36 million for the qaurter. Analysts' estimates typically exclude special items.