* Q2 oper EPS $0.58 vs est $0.53
* Q2 net earned premiums up 43.5 pct
Aug 3 Property and casualty insurer AmTrust
Financial Services Inc (AFSI.O) reported a quarterly profit
above market view, helped by a rise in net earned premiums.
For the second quarter, net income was $30.8 million, or 51
cents a share, compared with $26.8 million, or 45 cents a
share, a year ago.
On an operating basis -- which typically excludes any
investment gains and losses -- the company posted earnings of
58 cents a share.
Analysts on average were looking for a profit of 53 cents a
share, according to Thomson Reuters I/B/E/S.
Net earned premiums rose 43.5 percent to $196.3 million.
AmTrust said the combined ratio was 85.7 percent during the
quarter, up from 79.6 percent last year.
Combined ratio is the percentage of premiums an insurer has
to pay out in claims and expenses. A figure over 100 indicates
that underwriting was unprofitable.
Shares of the company closed at $13.25 Monday on Nasdaq.
(Reporting by Swati Chitnis in Bangalore; Editing by Prem