Amtrust financial services, inc. (AFSS)
Income statement / Quarterly
Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Net written premiums

-

-

-

-

-

-

-

1,146,162

1,216,050

1,268,436

1,220,679

1,067,035

1,142,983

1,008,721

1,043,189

883,073

1,004,196

923,670

1,130,281

664,774

728,796

639,997

532,106

413,012

483,659

391,589

359,777

344,994

321,903

375,681

234,019

182,837

196,394

Change in unearned premiums

-

-

-

-

-

-

-

69,533

-19,814

-86,684

-146,397

-9,549

-97,575

-39,751

-93,812

5,360

-89,783

-48,733

-301,230

42,788

-114,901

-103,458

-124,112

-29,625

-96,212

-57,595

-45,753

-45,601

-33,055

-127,399

-33,681

8,048

-133

Net earned premiums

-

-

-

-

-

-

-

1,215,695

1,196,236

1,181,752

1,074,282

1,057,486

1,045,408

968,970

949,377

888,433

914,413

874,937

829,051

707,562

613,895

536,539

407,994

383,387

387,447

333,994

314,024

299,393

288,848

248,282

200,338

190,885

196,261

Ceding commission  primarily related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

49,860

44,550

46,274

-

40,732

35,414

35,684

37,903

32,958

Service and fee income

52,500

49,300

116,100

125,805

180,500

168,400

137,500

150,998

133,857

124,306

128,805

116,941

112,923

96,160

102,119

57,273

117,583

99,542

90,958

92,963

89,981

88,102

60,513

54,064

44,561

33,011

40,538

30,114

28,815

24,542

25,189

22,418

9,121

Interest Income form related party

1,200

1,200

1,200

-

1,200

1,200

1,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net investment income

-

-

-

-

-

-

-

47,968

59,919

50,745

49,415

45,009

40,425

36,283

34,573

35,928

34,552

32,594

28,527

20,800

23,290

22,634

18,095

18,876

18,429

16,344

14,518

13,700

14,456

13,167

14,192

10,952

14,686

Net realized gains on investments

-

-

-

-

-

-

-

5,174

8,230

15,099

7,975

-22,576

17,682

-2,642

15,653

1,992

5,086

3,906

5,439

-4,936

1,112

2,067

17,284

5,213

2,213

2,703

-1,148

1,187

550

616

415

7,460

-6,544

Total revenues

-

-

-

-

-

-

-

1,419,835

1,398,242

1,371,902

1,260,477

1,196,860

1,216,438

1,098,771

1,101,722

983,626

1,071,634

1,010,979

953,975

816,389

728,278

649,342

503,886

320,856

502,510

430,602

414,206

232,564

373,401

322,021

275,818

269,618

246,482

Loss and loss adjustment expenses

-

-

-

-

-

-

-

831,765

811,048

784,393

715,073

726,756

709,604

638,475

613,283

576,170

609,352

587,233

558,570

470,416

410,579

364,110

272,256

255,313

255,646

211,787

199,929

194,277

185,352

170,008

128,696

120,432

121,510

Acquisition costs and other underwriting expenses (net of ceding commission and administrative services - related party - $609,321; $608,904; and $545,661)

-

-

-

-

-

-

-

359,231

303,992

294,477

272,468

253,896

260,722

246,172

232,781

250,521

225,512

208,060

186,609

165,745

137,186

129,946

100,285

-41,469

143,736

129,713

124,025

-12,717

113,270

89,580

81,234

82,152

79,579

Other

-

-

-

-

-

-

-

161,203

139,251

134,344

129,267

150,883

120,274

101,136

100,960

143,856

103,493

87,588

87,591

68,285

90,195

80,985

52,152

67,413

42,337

32,320

35,639

54,285

24,045

18,564

20,196

20,210

9,336

Total expenses

-

-

-

-

-

-

-

1,352,199

1,254,291

1,213,214

1,116,808

1,131,535

1,090,600

985,783

947,024

970,547

938,357

882,881

832,770

704,446

637,960

575,041

424,693

281,257

441,719

373,820

359,593

235,845

322,667

278,152

230,126

222,794

210,425

(Loss) income before other (expenses) income, provision for income taxes and equity in earnings of unconsolidated subsidiaries

-

-

-

-

-

-

-

67,636

143,951

158,688

143,669

65,325

125,838

112,988

154,698

13,079

133,277

128,098

121,205

111,943

90,318

74,301

79,193

39,599

60,791

56,782

54,613

-3,281

50,734

43,869

45,692

46,824

36,057

Interest expense (net of interest income - related party - $4,654; $7,593; and $8,701)

-

-

-

-

-

-

-

-23,616

-22,124

-17,912

-15,874

-17,114

-14,688

-11,472

-12,081

-58,140

-11,801

12,587

11,497

-58,780

9,120

7,608

7,361

7,205

7,218

6,994

7,091

4,045

3,946

4,334

3,754

3,410

3,063

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

0

-557

0

-4,714

-9,831

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Loss) gain on investment in life settlement contracts net of profit commission

-

-

-

-

-

-

-

17,256

5,485

12,676

10,730

759

4,616

3,096

11,373

17,486

-2,910

-5,070

2,800

3,720

76

1,080

-1,076

8,520

3,251

1,961

90

-1,454

6,822

22,638

18,886

11,855

-

Foreign currency (loss) gain

-

-

-

-

-

-

-

48,819

-10,880

-28,995

-38,233

33,496

51,000

-61,852

24,657

30,546

26,594

1,084

-1,852

-8,956

368

783

1,272

2,743

-951

-2,455

421

-591

-4,063

2,520

-284

-141

755

Gain on acquisition

-

-

-

-

-

-

-

0

0

39,097

9,678

-

5,826

0

-

-

0

-

-

0

0

23,183

25,532

-

0

0

-

-

5,850

-

-

-

-

Gain on sale of policy management system

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

0

6,631

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Total other (expenses) income

-

-

-

-

-

-

-

42,459

-27,519

4,866

-33,699

17,141

46,197

-70,228

19,235

28,229

11,883

-9,942

-10,549

-15,838

-8,676

17,438

18,367

4,058

-4,918

-7,488

-6,580

-6,090

4,663

20,824

14,848

8,304

-2,308

(Loss) income before income taxes and equity in earnings of unconsolidated subsidiaries

-

-

-

-

-

-

-

110,095

116,432

163,554

109,970

82,466

172,035

42,760

173,933

41,308

145,160

118,156

110,656

96,105

81,642

91,739

97,560

43,657

55,873

49,294

48,033

-9,371

55,397

64,693

60,540

55,128

33,749

(Benefit) provision for income taxes

-

-

-

-

-

-

-

19,355

23,185

23,807

18,960

22,269

-10,847

-8,969

36,493

-9,379

-7,664

17,966

27,444

30,628

23,880

27,402

16,109

-14,814

13,187

11,742

11,177

-45,646

14,297

7,289

9,037

13,935

8,839

(Loss) income before equity in earnings of unconsolidated subsidiaries

-

-

-

-

-

-

-

90,740

93,247

139,747

91,010

60,197

182,882

51,729

137,440

50,687

152,824

100,190

83,212

65,477

57,762

64,337

81,451

58,471

42,686

37,552

36,856

36,275

41,100

57,404

51,503

41,193

24,910

Equity in earnings of unconsolidated subsidiaries (related parties)

-

-

-

-

-

-

-

3,094

1,954

4,802

5,776

-

-

-

5,529

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in earnings of unconsolidated subsidiaries  related parties

-

-

-

-

-

-

-

-

-

-

6,145

-

13,477

4,042

5,529

-

4,332

3,999

18,516

1,029

1,927

7,060

1,550

636

3,207

3,088

2,364

1,467

-918

2,514

1,819

4,030

5,913

Net (loss) income

-

-

-

-

-

-

-

93,834

95,201

144,549

96,786

62,534

196,359

55,771

142,969

52,191

157,156

104,189

101,728

66,506

59,689

71,397

83,001

59,107

45,893

40,640

39,220

39,743

40,182

59,918

51,321

45,223

30,823

Net income

-

-

-

-

-

-

-

-

-

-

96,626

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to non-controlling interest and redeemable non-controlling interest of subsidiaries

-

-

-

-

-

-

-

6,575

2,975

5,817

4,017

-12

1,511

1,346

4,083

6,613

-2,939

-4,026

-64

-159

-597

0

-877

3,794

2,663

282

134

-181

3,016

9,756

8,139

-5,927

-

Net (loss) income attributable to AmTrust stockholders

-

-

-

-

-

-

-

87,259

92,226

138,732

92,769

62,546

194,848

54,425

138,886

45,578

160,095

108,215

101,792

66,665

60,286

71,397

83,878

55,313

43,230

40,358

39,086

37,923

37,166

50,162

45,183

39,296

30,823

Dividends on preferred stock

-

-

-

-

-

-

-

15,904

11,576

11,576

8,791

8,793

8,789

8,639

5,369

5,351

3,505

1,941

1,941

1,941

2,048

0

0

-

0

-

-

-

-

-

-

-

-

Net (loss) income attributable to AmTrust common stockholders

-

-

-

-

-

-

-

71,355

80,650

127,156

83,978

53,753

186,059

45,786

133,517

40,227

156,590

106,274

99,851

64,724

58,238

71,397

83,878

-

43,230

-

-

-

-

-

-

-

-

Basic (loss) earnings per share (in dollars per share)

-

-

-

-

-

-

-

0.42

0.47

0.73

0.48

0.32

1.12

0.28

0.82

-2.16

2.09

1.41

1.34

-1.00

0.78

0.96

1.13

0.64

0.59

0.60

0.59

0.14

0.60

0.84

0.76

0.65

0.52

Diluted (loss) earnings per share (in dollars per share)

-

-

-

-

-

-

-

0.41

0.47

0.73

0.47

0.32

1.10

0.27

0.80

-2.04

1.97

1.33

1.27

-0.97

0.74

0.93

1.08

0.62

0.56

0.59

0.57

0.16

0.58

0.81

0.74

0.64

0.51

Dividends declared per common share (in dollars per share)

-

-

-

-

-

-

-

0.17

0.17

0.15

0.15

0.17

0.15

0.12

0.10

-0.17

0.20

0.20

0.20

-0.14

0.14

0.14

0.14

0.10

0.10

0.10

0.09

0.09

0.09

0.08

0.08

0.07

0.07

Total other-than-temporary impairment losses

-

-

-

-

-

-

-

-

-

-

-

-

7,636

1,466

-

4,036

464

1,896

1,643

2,869

0

0

0

1,757

0

1,208

0

4,066

0

345

0

4,051

12,007

Portion of loss recognized in other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Net impairment losses recognized in earnings

-

-

-

-

-

-

-

-

-

-

-

-

7,636

1,466

-

4,036

464

1,896

1,643

2,869

0

0

0

1,757

0

1,208

0

4,066

0

345

0

4,051

12,007

Net realized gains on available for sale securities

-

-

-

-

-

-

-

-

-

-

5,272

-

16,049

-856

-

-

3,385

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized gains on other invested assets

-

-

-

-

-

-

-

-

-

-

2,703

-

9,269

-320

-

-12,445

2,165

5,802

7,082

-20,463

1,112

2,067

17,284

6,970

2,213

3,911

-1,148

5,253

550

961

415

11,511

5,463

Net realized investment gains

-

-

-

-

-

-

-

5,174

8,230

15,099

7,975

-22,576

17,682

-2,642

15,653

1,992

5,086

3,906

5,439

-4,936

1,112

2,067

17,284

5,213

2,213

2,703

-1,148

1,187

550

616

415

7,460

-6,544