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AmTrust Financial Q4 net income up 19.9%

AmTrust Financial Services has reported a net income of $33.6m, or $0.56 earnings per diluted share, for the fourth quarter of 2010, compared to $28.1m, or $0.47 earnings per diluted share, for the fourth quarter of 2009.

Operating earnings totaled $34.0m for the fourth quarter of 2010, compared to $32.1m for the same corresponding quarter of 2009.

Net written premium of $258.6m for the fourth quarter of 2010, compared to $202.8m in the same quarter of the last year.

Total revenue for the fourth quarter of 2010 was $282.7m, compared to $203.0m in the fourth quarter of 2009.

For the full year 2010, net income totaled $142.5m, or $2.36 earnings per diluted share, compared to $103.2m, or $ 1.72 earnings per diluted share for the year 2009.

Operating earnings totaled $136.5m in the year 2010, compared to $127.7m in the same period last year.

AmTrust Financial Services president and CEO Barry Zyskind said that the fourth quarter and full year 2010 results reflect the power of niche-oriented, lower-risk platform as the company once again delivered strong returns for shareholders.