AmTrust Announces Net Income For The Second Quarter 2016

By: Jeff Hatch

August 02, 2016

Warrantech’s parent company, AmTrust today announced second quarter 2016 net income attributable to common stockholders was $134.8 million, or $0.78 per diluted share, compared to $70.7 million, or $0.42 per diluted share, in the second quarter 2015. 
 
For the second quarter 2016, operating earnings was $140.3 million, or $0.81 per diluted share, compared to $130.5 million, or $0.78 per diluted share, in the second quarter of 2015. Annualized return on common equity was 21.1% for the second quarter of 2016 compared to 14.3% for the second quarter of 2015. Second quarter 2016 annualized operating return on common equity was 21.9% compared to 26.3% in the second quarter 2015.
 
Second Quarter 2016 Results
 
Total revenue was $1.39 billion, an increase of $0.28 billion, or 25%, from $1.11 billion in the second quarter 2015. Gross written premium was $2.07 billion, an increase of $0.39 billion, or 24%, from $1.68 billion in the second quarter of 2015. Net written premium was $1.27 billion, an increase of $0.26 billion, or 26%, compared to $1.01 billion in the second quarter 2015. Net earned premium was $1.18 billion, an increase of $0.21 billion, or 22%, from $0.97 billion in the second quarter 2015. The combined ratio was 91.7% compared to 90.5% in second quarter 2015.
 
A summary of Q2 results is listed below along with a link to the earnings release. 
 
Financial Highlights
 
Second Quarter 2016
 
Gross written premium of $2.07 billion, up 23.5% compared to $1.68 billion in the second quarter 2015
Net earned premium of $1.18 billion, up 22.0% from $0.97 billion in the second quarter 2015 
Net income attributable to common stockholders of $134.8 million compared to $70.7 million in the second quarter 2015
Operating earnings of $140.3 million compared to $130.5 million in the second quarter 2015
Diluted EPS of $0.78 compared to $0.42 in the second quarter 2015
Operating diluted EPS of $0.81 compared to $0.78 in the second quarter 2015
Annualized return on common equity of 21.1% and annualized operating return on common equity of 21.9% 
Service and fee income of $138.3 million, up 28% from $107.7 million in the second quarter 2015
Combined ratio of 91.7% compared to 90.5% in the second quarter 2015
Weighted average diluted shares outstanding of 173.0 million, up 3% compared to 168.1 million in the second quarter 2015
Repurchased 3.58 million common shares at a weighted average price of $24.82 per share

Filed Under: earnings, financials, income, quarter, second

AmTrust Reports A 16% Increase In Operated Earnings For The Second Quarter 2015

By: Jeff Hatch

August 04, 2015

AmTrust, the parent company of Warrantech, recently announced continued growth of operating earnings and strong operating on equity for the second quarter ended June 30, 2015.
 
Operating earnings were $130.5 million, or $1.55 per diluted share, an increase of 22%, compared to $107.1 million, or $1.34 per diluted share, in the second quarter of 2014. Second quarter 2015 net income attributable to common stockholders was $70.7 million, or $0.84 per diluted share, compared to $106.3 million, or $1.33 per diluted share, in the second quarter 2014. Second quarter 2015 annualized operating return on common equity was 26.3% compared to 28.0% in the second quarter 2014. Annualized return on common equity was 14.3% for the second quarter of 2015 compared to 27.8% for the second quarter of 2014. 
 
Second Quarter 2015 Results
 
Total revenue was $1.11 billion, an increase of $0.10 billion, or 10%, from $1.01 billion in the second quarter 2014. Gross written premium was $40.3 billion and net written premium was $1.01 billion, an increase of $85.0 million, or 9%, compared to $923.7 million in the second quarter 2014. Net earned premium was $969.0 million, an increase of $94.0 million, or 11%, from $874.9 million in the second quarter 2014. The combined ratio was 90.5% compared to 90.9% in second quarter 2014.
 
A summary of Q2 results is listed below along with a link to the earnings release. 
 
Financial Highlights
 
Second Quarter 2015
 
Gross written premium of $1.68 billion, up 16% compared to $1.44 billion in the second quarter of 2014
Net earned premium of $969.0 million, up 11% from $874.9 million in the second quarter 2014
Operating diluted EPS of $1.55 compared to $1.34 in the second quarter 2014
Diluted EPS of $0.84 compared with $1.33 in the second quarter 2014
Annualized operating return on common equity of 26.3% and annualized return on common equity of 14.3%
Service and fee income of $107.7 million, up 8% from the second quarter 2014
Operating earnings of $130.5 million, up 22% compared to $107.1 million in the second quarter 2014
Net income attributable to common stockholders of $70.7 million compared to $106.3 million in the second quarter 2014
Combined ratio of 90.5% compared to 90.9% in the second quarter 2014
 
YTD 2015
 
Gross written premium of $3.41 billion, up 10% compared to $3.11 billion YTD 2014
Net earned premium of $1.92 billion, up 13% from $1.70 billion YTD 2014
Operating diluted EPS of $3.01 compared to $2.58 YTD 2014
Diluted EPS of $2.69 compared with $2.60 in YTD 2014
Annualized operating return on common equity of 27.1% and annualized return on common equity of 24.2%
Service and fee income of $220.6 million, up 16% from $190.5 million YTD 2014
Operating earnings of $251.9 million, up 23% compared to $204.5 million in YTD 2014
Net income attributable to common stockholders of $225.4 million compared to $206.1 million in YTD 2014
Combined ratio of 89.8% compared to 90.4% in YTD 2014
Book value per common share of $24.05, up 8% from $22.34 at December 31, 2014
AmTrust's stockholders' equity was $2.47 billion as of June 30, 2015 up 21% compared to $2.04 billion as of December 31, 2014

Filed Under: earnings, Financial, growth, Q2, quarter, results, second, share