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AmTrust Financial Services, the parent company of Warrantech, announced its second quarter financial earnings results this week. Once again the company posted very strong returns, both in top line revenue/premium growth as well as bottom-line profitability.
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AmTrust Announces Strong Second Quarter Earnings for 2013 AmTrust Financial Services, the parent company of Warrantech, announced its second quarter financial earnings results this week. Once again the company posted very strong returns, both in top line revenue/premium growth as well as bottom-line profitability. This is the first quarter in which the company has generated over $1 billion in gross written premium during a single quarter. Of that amount, Specialty Risk and Extended Warranty were responsible for accruing $448 million of gross written premium. This performance speaks to the strong contribution that Warrantech not only makes to the overall success of its parent company, but also to the diversification of the parent company portfolio. Warrantech depends upon the close relationships it maintains with its retailer/dealer network to provide innovative extended service plans and warranty programs to a wide array of customers. Subsequently, this impressive milestone is largely attributable to the strength of our relationship with our retailer/dealer partners.
Second Quarter 2013 Financial Highlights Gross written premium of $1.04 billion, up 63.2%, and net earned premium of $536.5 million, up 60.6% from the second quarter 2012 Operating diluted EPS of $0.86 compared to $0.66 in the second quarter 2012 Service and fee income of $88.1 million, up 166.9% from the second quarter 2012 Net income of $80.1 million compared to $40.4 million from the second quarter 2012 Combined ratio of 91.3% compared to 88.9% in the second quarter 2012 For more information about Warrantech free visit here:-http://www.yelp.com/biz/warrantech-corporation-bedford Article resource:-http://search.autonews.com/suppliers/warrantech.htm
