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AmTrust Financial Q3 Revenues Up 69%

Revenue in Q3 increased by $74.3m to $182.0 million from $107.7m in Q3 of 2008

AmTrust Financial Services has reported operating earnings of $31.8m for the third quarter of 2009.

During the third quarter of 2009, the book value per share increased 12.4% to $9.03 per share. The gross written premium for the third quarter of 2009 was $295.9m and net income was $24.2m. For the nine months ended September 30, 2009, the company reported gross written premium of $833.7m, operating earnings of $93.7m and net income of $75.2m.

The total revenue in the third quarter increased by $74.3m to $182.0 million, or 69.0%, from $107.7m in the third quarter of 2008. The company reported operating earnings of $31.8m or diluted operating earnings per share of $0.53 for the third quarter of 2009. The net income for the third quarter of 2009 was $24.2m, or $0.40 diluted earnings per share.

The total revenue for the third quarter of 2009 increased $74.3m or 69.0% to $182.0 million from $107.7m for the third quarter of 2008. The net premium earned increased $53.0m or 57.4% to $145.3m during the third quarter of 2009 from $92.3m during the third quarter of 2008. The gross written premium in the third quarter of 2009 increased by $14.7m to $295.9m from $281.2m for the third quarter of 2008.

The total revenue for the nine months ended September 30, 2009 was $536.4m, an increase of 31.2% from the nine months ended September 30, 2008. The net premium earned increased $108.8m or 35.6% to $414.5m during the nine months ended September 30, 2008. The gross written premium for the nine months ended September 30, 2009 increased by $16.7m to $833.7m from $817.0m for the nine months ended September 30, 2008.