AmTrust Financial Services, Inc.'s (AFSI) first-quarter net income attributable to the company totaled $64.2 million, an increase of 64.3% from $39.1 million in the first quarter 2012. Earnings per share totaled $0.91 for the first quarter 2013, an increase of 59.6% from $0.57 in the first quarter 2012.
Operating earnings attributable to the company for the quarter were $57.2 million, or $0.81 per share, compared to $44.0 million, or $0.64 per share in the prior year quarter.
Total revenue for the quarter was $567.8 million, an increase of $153.6 million, or 37.1%, from $414.2 million in the first quarter 2012. Gross written premium of $943.9 million rose $342.2 million, or 56.9%, from $601.7 million in the same period a year ago. Net written premium was $532.1 million, an increase of $172.3 million, or 47.9%, from $359.8 million in the first quarter 2012. Net earned premium of $408.0 million increased $94.0 million, or 29.9%, from $314.0 million in the first quarter 2012.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share on revenues of $454.87 million. Analysts' estimates typically exclude special items.
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