Am trust reports third quarter 2013 operating earnings of more than $65 million

Am Trust Reports Third Quarter 2013 Operating Earnings Of More Than $65 Million Am Trust Financial Services, the parent company of Warrantech, announced its third quarter financial earnings results this week. Once again the company issued extremely strong financial results, both in top line revenue/premium growth as well as bottom-line profitability.

This is the second quarter in which Am Trust Financial generated more than $1 billion in gross written premium, up 45.8%. Year-to-date gross written premium for 2013 now stands at $3.06 billion, up 50.5% over the YTD 2012 total.

Specialty Risk and Extended Warranty were again listed among the largest premium generators. This speaks volumes about Warrantech’s contribution to the overall strength of Am Trust Financial and is a testament to the hard work of our retailer/dealer network. That partnership and the valuable contributions put forth by our dedicated workforce are a direct result of these noteworthy revenue and profitability earnings totals.

Third Quarter 2013 Financial Highlights

Gross written premium of $1.07 billion, up 45.8%, and net earned premium of $613.9 million, up 58.4% from the third quarter 2012

Operating diluted EPS of $0.83 compared to $0.64 in the third quarter 2012

Annualized operating return on common equity of 21.0% and annualized return on common equity of 18.8%

Service and fee income of $90.0 million, up 101.9% from the third quarter 2012

Operating earnings of $65.1 million compared to $48.8 million from the third quarter 2012

Net income available to common stockholders of $58.2 million compared to $43.2 million in the third quarter 2012

Diluted EPS of $0.74 compared with $0.56 in the third quart Combined ratio of 89.6% compared to 90.2% in the third quarter 2012

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