There’s a lot to be said for experience. Having someone in your corner who has a greater understanding of what you are trying to accomplish can help you fully realize your goals and even uncover new opportunities that you never knew existed. That’s what we do best.
Warrantech is comprised of service contract / insurance industry veterans and is led by a management team whose members each average more than 23 years in the business. Our executives are thought-leaders who serve as industry board members and conference speakers, and possess numerous industry designations and certifications. This expertise translates into a comprehensive perspective with vast insight that enables us to uncover hidden growth opportunities and structure programs that offer a high-value proposition for our partners and their customers.
Our real-world experience also guides our team to help clients refine their sales strategies and create lucrative programs that build customer loyalty and enhance brand image. With a team of highly skilled underwriters, actuaries, legal/compliance professionals, marketing and management experts, Warrantech has the depth of knowledge to launch and administer your program successfully within your defined timelines.
Our experienced team is masterful at driving large, complicated projects, based on years of integrating, developing and managing a variety of well-positioned acquisitions and meaningful, large-scale client programs. We are able to design, develop and implement a program with minimal strain on your team, while working within any desired parameters you establish. We typically focus on:
• Optimization of price tiers and bands
• Ensuring all eligible products are covered
• Designing clear and concise customer terms and conditions
• Continuous development of marketing materials and sales tools
• Robust field and online training programs
• Aftermarket and renewal marketing activities
• Development of appropriate compensation and incentive programs
The Warrantech team has the expertise to ensure that you receive a carefully coordinated program that integrates all aspects of your business, including sales, service and marketing. In turn, this ensures a perfect fit for both your business and your customers.
Visit warrantech.com or give us a call at 800.833.8801 to learn more about how we can help you.
Filed Under: business, expertise, industry, marketing, sales, service, Warrantech
Warrantech’s parent company, AmTrust Financial Services, Inc. (AFSI) today announced third quarter 2016 net income attributable to common stockholders was $103.6 million, or $0.60 per diluted share, compared to $182.7 million, or $1.09 per diluted share, in the third quarter 2015.
For the third quarter 2016, operating earnings was $126.3 million, or $0.73 per diluted share, compared to $150.9 million, or $0.89 per diluted share, in the third quarter 2015. Annualized return on common equity was 15.9% for the third quarter 2016 compared to 35.4% for the third quarter 2015. Third quarter 2016 annualized operating return on common equity was 19.4% compared to 29.2% in the third quarter 2015.
"We delivered a solid performance in the third quarter, with strong investment results, higher service and fee income, and growth in gross written premiums, compared with the same period a year ago," said Barry Zyskind, Chairman, President and Chief Executive Officer, AmTrust. "Our performance reflects a full quarter's contribution from Republic Companies, as well as continued strong policy retention and disciplined underwriting of new business in our small commercial business segment, as demonstrated by our stable loss ratio. The top-line results of our specialty risk and extended warranty segment reflect the impact of the decline in the British pound relative to the third quarter a year ago, and we are pleased with the underlying performance of this segment."
Mr. Zyskind also stated, "We are optimistic about our organic growth prospects, given our differentiated model in workers' compensation and commercial lines products in the U.S., as well as opportunities in our warranty insurance offering globally. We remain focused on building a portfolio of business that leverages our proprietary technology and our efficient operating structure to enhance shareholder returns."
Third Quarter 2016 Results
Total revenue was $1.41 billion, an increase of $181.3 million, or 15%, from $1.23 billion in the third quarter 2015. Gross written premium was $2.03 billion, an increase of $253.3 million, or 14%, from $1.78 billion in the third quarter 2015. Net written premium was $1.22 billion, an increase of $73.1 million, or 6%, compared to $1.14 billion in the third quarter 2015. Net earned premium was $1.20 billion, an increase of $150.8 million, or 14%, from $1.05 billion in the third quarter 2015. The combined ratio was 91.5% compared to 92.6% in third quarter 2015.
A summary of Q3 results is listed below along with a link to the earnings release.
Third Quarter 2016
• Gross written premium of $2.03 billion, up 14.2% compared to $1.78 billion in the third quarter 2015
• Net earned premium of $1.20 billion, up 14.4% from $1.05 billion in the third quarter 2015
• Net income attributable to common stockholders of $103.6 million compared to $182.7 million in the third quarter 2015
• Operating earnings of $126.3 million compared to $150.9 million in the third quarter 2015
• Diluted EPS of $0.60 compared to $1.09 in the third quarter 2015
• Operating diluted EPS of $0.73 compared to $0.89 in the third quarter 2015
• Service and fee income of $146.6 million, up 16% from $126.1 million in the third quarter 2015
• Combined ratio of 91.5% compared to 92.6% in the third quarter 2015
• Weighted average diluted shares outstanding of 173.1 million, up 3% compared to 168.3 million in the third quarter 2015
To view AmTrust Financial Services’ Q3 earnings release, visit the Investor Relations section at http://ir.amtrustgroup.com or click on the following link: http://ir.amtrustgroup.com/releasedetail.cfm?ReleaseID=997294
Filed Under: AmTrust, earnings, Financial, gross, income, premium, Q3, quarter, third, Warrantech, written