Warrantech’s parent organization, AMT Warranty, Inc. (AFSI) today announced second quarter 2016 net income attributable to common stockholders was $134.8 million, or $0.78 per diluted share, in comparison with $70.7 million, or $0.42 per diluted share, within the second quarter 2015.


For the second quarter 2016, running cash gains ended up being $140.3 million, or $0.81 per diluted share, as compared with $130.5 million, or $0.78 per diluted share, in the 2nd quarter of 2015. Annualized return on common equity was 21.1% for the 2nd quarter of 2016 compared with 14.3% for the second quarter of 2015. 2nd quarter 2016 annualized operating return on typical equity was 21.9% when compared with 26.3% in the 2nd quarter 2015.


Second Quarter 2016 Results


Total income was in fact $1.39 billion, a boost of $0.28 billion, or 25%, from $1.11 billion within the 2nd quarter 2015. Gross written premium was $2.07 billion, a growth of $0.39 billion, or 24%, through $1.68 billion inside the 2nd quarter of 2015. Net written premium was $1.27 billion, a boost of $0.26 billion, or 26%, as compared with $1.01 billion within the 2nd quarter 2015. Net earned premium was $1.18 billion, a rise of $0.21 billion, or 22%, from $0.97 billion in the second quarter 2015. The combined ratio was 91.7% in comparison to 90.5% in second quarter 2015.


An index of Q2 results shows up below along with a link to the gains release.


Financial Illustrates


Second Quarter 2016


• Gross written premium of $2.07 billion, up 23.5% compared to $1.68 billion in the 2nd quarter 2015


• Net earned premium of $1.18 billion, up 22.0% from $0.97 billion within the second quarter 2015


• Net income attributable to common stockholders of $134.8 million versus $70.7 million inside the 2nd quarter 2015


• Operating earnings of $140.3 million when compared to $130.5 million in the 2nd quarter 2015


• Diluted EPS of $0.78 in comparison to $0.42 in the second quarter 2015


• Operating diluted EPS of $0.81 as compared with $0.78 inside the second quarter 2015


• Annualized return on common equity of 21.1% and annualized operating return on common equity of 21.9%


• Service and fee income of $138.3 million, up 28% from $107.7 million in the second quarter 2015


• Combined ratio of 91.7% compared to 90.5% in the 2nd quarter 2015


• Weighted average diluted shares outstanding of 173.0 million, up 3% compared to 168.1 million in the second quarter 2015


• Repurchased 3.58 million common shares at a weighted average price of $24.82 per share


Article Resource:-https://amtwarranty.wordpress.com/2016/08/04/amtrust-announces-net-income-for-the-second-quarter-2016/