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AmTrust Financial Services Inc (AFSI.OQ)

AFSI.OQ on NASDAQ Stock Exchange Global Select Market

10.20USD
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Amtrust Financial Services reports Q3 loss per share $0.89
Wednesday, 8 Nov 2017 04:30pm EST 

Nov 8 (Reuters) - Amtrust Financial Services Inc ::Amtrust Financial Services Inc reports third quarter 2017 net loss per diluted share of $(0.89) and operating loss per diluted share(1) of $(0.04), including $0.25 per share of catastrophe losses in quarter.Q3 operating loss per share $0.04.Q3 loss per share $0.89.Q3 revenue rose 4.3 percent to $1.5 billion.Q3 earnings per share view $0.09 -- Thomson Reuters I/B/E/S.Q3 revenue view $1.27 billion -- Thomson Reuters I/B/E/S.  Full Article

AmTrust Financial will transfer 51% equity interest in some of its U.S. businesses to Madison Dearborn Partners
Monday, 6 Nov 2017 05:01pm EST 

Nov 6 (Reuters) - AmTrust Financial Services Inc ::AmTrust - co, ‍Madison Dearborn Partners agree for co to transfer a 51% equity interest in certain of its U.S.-based fee businesses to MDP​.AmTrust Financial Services - deal values the U.S.-based fee business at $1.15 billion, plus up to additional $50 million upon exit, subject to agreed thresholds​.AmTrust-Via mix of MDP's equity investment of about $210 million, debt borrowings by new business, co to receive proceeds of about $950 million at closing​.AmTrust Financial Services Inc - ‍co estimates net tangible book value to increase by approximately $6.00 per share as a result of transaction proceeds​.AmTrust Financial Services Inc - ‍estimates net book value to increase by approximately $3.50 per share as a result of transaction proceeds​.AmTrust- goodwill & intangibles of about $482 million ‍as of june 30 related to transferred businesses, expected to be deconsolidated from balance sheet​.  Full Article

AmTrust says will recognize $54 mln net losses related to catastrophes in Q3
Monday, 6 Nov 2017 05:00pm EST 

Nov 6 (Reuters) - AmTrust Financial Services Inc :Amtrust to report prior period development of $327 million and utilize the full benefit of the adverse loss development cover.Amtrust financial services inc - ‍amtrust will recognize $54 million of net losses related to catastrophes in Q3 of 2017​.  Full Article

AmTrust Financial Services natural catastrophe loss estimate
Tuesday, 3 Oct 2017 05:30pm EDT 

Oct 3 (Reuters) - AmTrust Financial Services Inc :AmTrust Financial Services Inc natural catastrophe loss estimate.AmTrust Financial Services Inc - ‍an initial estimate for net loss exposure for Q3 of 2017 catastrophe activity of between $40 million and $65 million​.AmTrust-Most of estimated losses for Q3 were from hurricanes Harvey, Irma, Maria, recent earthquake in Mexico related to contracts bound by co at Lloyd's.  Full Article

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

BRIEF-Amtrust Financial Services reports Q3 loss per share $0.89

* Amtrust Financial Services Inc reports third quarter 2017 net loss per diluted share of $(0.89) and operating loss per diluted share(1) of $(0.04), including $0.25 per share of catastrophe losses in quarter