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AmTrust Financial Services Inc (AFSI.OQ)

AFSI.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

National General Holdings reports agreement to buy personal lines policy administration system
Thursday, 14 Sep 2017 07:30am EDT 

Sept 14 (Reuters) - National General Holdings Corp ::National General Holdings Corp. announces agreement to acquire personal lines policy administration system.National General Holdings Corp - ‍agreement also terminates existing master services agreement between National General and Amtrust​.National General Holdings says ‍purchase price payable in three equal installments with first payment made upon execution of agreement​.National General Holdings Corp - to acquire personal lines policy administration system, related intellectual property from Amtrust​.  Full Article

Amtrust Financial Services announces sale of personal lines policy management system to National General Holdings Corp for $200 million
Thursday, 14 Sep 2017 07:30am EDT 

Sept 14 (Reuters) - Amtrust Financial Services Inc ::AmTrust Financial Services Inc announces sale of personal lines policy management system to National General Holdings Corp for $200 million.AmTrust Financial Services Inc - deal for ‍$200 million​.AmTrust Financial Services Inc - ‍AmTrust will receive total consideration of $200 million, payable in three equal installments​.AmTrust Financial Services Inc - ‍sale will be immediately accretive to AmTrust's tangible book value​.  Full Article

AmTrust Financial Services Q2 earnings per share $0.03
Tuesday, 8 Aug 2017 04:05pm EDT 

Aug 8 (Reuters) - Amtrust Financial Services Inc :AmTrust Financial Services Inc reports second quarter 2017 net income per diluted share of $0.03 and operating earnings per diluted share of $0.40.Q2 earnings per share $0.03.Q2 operating earnings per share $0.40.Q2 revenue $1.6 billion.Q2 earnings per share view $0.36 -- Thomson Reuters I/B/E/S.  Full Article

Amtrust Financial partners with Premia Holdings on reinsurance agreement
Thursday, 6 Jul 2017 04:30pm EDT 

July 6 (Reuters) - Amtrust Financial Services Inc :Amtrust Financial Services, Inc. Partners with premia holdings ltd. On reinsurance agreement.Amtrust Financial Services Inc - entered into agreement for a loss development cover with premia reinsurance ltd., a subsidiary of premia holdings ltd..Amtrust Financial Services - deal provides up to $400 million of reinsurance for adverse net loss reserve development in excess of co stated net loss reserves as of march 31, 2017.Amtrust Financial Services Inc - agreement will be accounted for in amtrust's q2 2017 financial statements as a retroactive reinsurance agreement.Amtrust Financial Services Inc - agreement will result in a one-time, non-operating pre-tax charge to net income of approximately $61 million.Amtrust Financial Services Inc - on an after-tax basis, charge will be approximately $39 million, or $0.22 per common share.Amtrust Financial Services - consideration paid to premia will be placed into collateral trust account as security for premia's claim payment obligations to co.Amtrust Financial Services Inc - amtrust will retain sole authority to handle and resolve claims.Amtrust Financial Services Inc - consideration for agreement is a payment of approximately $675 million.  Full Article

Amtrust Financial enters agreements to sell shares in National General Holdings
Friday, 9 Jun 2017 08:30am EDT 

June 9 (Reuters) - Amtrust Financial Services Inc :Amtrust Financial Services, inc. Enters agreements to sell shares in national general holdings corp..Amtrust Financial Services Inc - deal for approximately $211.7 million.Amtrust Financial Services Inc - entered into agreements to sell 10.6 million shares it owns in national general holdings corp.Amtrust - will invest funds from sale in accordance with both company's overall corporate investment guidelines as well as individual subsidiary's investment guidelines.Amtrust Financial Services Inc - to sell common shares of nghc at a price of $20.00 per share.Amtrust Financial Services Inc - pre-tax gain on sale of shares will be approximately $76 million.  Full Article

AmTrust Financial Services appoints Adam Karkowsky as new CFO
Monday, 5 Jun 2017 08:30am EDT 

June 5 (Reuters) - AmTrust Financial Services Inc ::AmTrust Financial Services, Inc. appoints Adam Karkowsky as new chief financial officer.Adam Karkowsky is succeeding Ronald Pipoly.  Full Article

Amtrust Financial Services Q1 earnings per share $0.13
Monday, 8 May 2017 04:30pm EDT 

May 8 (Reuters) - Amtrust Financial Services Inc :Amtrust Financial Services Inc reports first quarter 2017 net income per diluted share of $0.13 and operating earnings per diluted share of $0.32, including catastrophe losses of $0.10 per diluted share.Q1 operating earnings per share $0.32.Q1 earnings per share $0.13.Q1 earnings per share view $0.60 -- Thomson Reuters I/B/E/S.Q1 revenue $1.4 billion.Qtrly net written premium was $1.3 billion, an increase of $123.4 million, or 10.1%, compared to $1.2 billion in Q1 2016.  Full Article

Amtrust Financial provides update on 10-k filing
Thursday, 16 Mar 2017 04:30pm EDT 

Amtrust Financial Services Inc : Amtrust financial services, inc. Provides update on 10-k filing . Will file its form 10-k for year ended december 31, 2016 as soon as practicable . Amtrust financial -sees co's gross written premium,net earned premium, loss, loss adjustment expense, loss ratio for fy 2014, 2015 will remain unchanged . Amtrust financial services inc- additional time needed to complete financial statements ,assessment of internal controls for fy ended dec 31, 2016 . Amtrust financial services - company's service and fee business, which expect will remain profitable in each of fiscal years 2014, 2015 and 2016 . Amtrust financial-reviewed all critical relationships,does not expect material interruption in or change to normal business activities related to delayed filing .Amtrust financial -reviewed all critical relationships, not expect material interruption in or change to normal business activities related to delayed filing.  Full Article

Am Trust Financial Services Q4 operating EPS $0.38
Monday, 27 Feb 2017 03:29am EST 

Amtrust Financial Services Inc : Am Trust Financial Services, Inc. Reports fourth quarter 2016 net income per diluted share of $0.57 and operating earnings per diluted share(1)(2) of $0.38, reflecting strengthening of reserves . Q4 operating earnings per share $0.38 . Q4 earnings per share $0.57 . Q4 revenue rose 18 percent to $1.42 billion . Q4 earnings per share view $0.74 -- Thomson Reuters I/B/E/S . Am Trust financial services says update on anticipated timing of 10-k filing . Qtrly net investment income, excluding net realized gains and losses, totaled $48 million, an increase of 7 pct . Am Trust Financial Services - Q4 combined ratio of 95.5 pct . Am Trust Financial Services - on or before march 1, co intends to file a form 12b-25 with sec providing co automatic 15-day extension to file its form 10-k . Am Trust Financial Services - full year combined ratio of 92.1 pct . Am Trust Financial Services -expects to make immaterial corrections to errors in its financial statements for fiscal years ended December 31, 2015 and 2014 . Am Trust Financial Services - additional time needed to complete financial statements and assessment of internal controls over financial reporting for FY 2016 . Am Trust Financial -also expects to make immaterial corrections to errors in financials for fiscal years ended Dec. 31, 2013 and 2012 for inclusion in form 10-k.  Full Article

Amtrust Financial enters into amendment to credit agreement
Thursday, 22 Dec 2016 04:25pm EST 

Amtrust Financial Services Inc :Amtrust Financial Services Inc - effective Dec 19, 2016, co entered into amendment No. 7 to its credit agreement dated September 12, 2014 - SEC filing.  Full Article

BRIEF-Amtrust Financial Services announces sale of personal lines policy management system to National General Holdings Corp for $200 million

* AmTrust Financial Services Inc announces sale of personal lines policy management system to National General Holdings Corp for $200 million