AmTrust Financial (AFSI) Declares $0.17 Quarterly Dividend; 5.5% Yield
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November 9, 2017 2:27 PM EST
Susquehanna options strategist Alison Edwards notes call buying activity in AmTrust Financial (NASDAQ: AFSI), as an investor purchased 4,000 Dec 12.5 Calls, seeking exposure to a rebound >$12.50 by mid-Dec.
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November 8, 2017 4:31 PM EST
AmTrust Financial (NASDAQ: AFSI) reported Q3 EPS of ($0.04), $0.16 worse than the analyst estimate of $0.12.
Gross written premium of $1.99 billion and net earned premium of $1.19 billion, down 2.1% and 0.3%, respectivelyNet loss attributable to common stockholders of $174.7 million, or $(0.89) per diluted share, compared to net income of $80.7 million, or $0.47 per diluted shareNet loss includes $326.9 million of losses ceded to our adverse development cover, partially offset by $186.8 million gain on sale of policy management system to National General Holdings...
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November 6, 2017 5:02 PM EST
AmTrust Financial Services, Inc. (Nasdaq: AFSI) and Madison Dearborn Partners (MDP), a private equity firm with significant insurance services expertise, today announced a definitive agreement under which AmTrust will transfer a 51% equity interest in certain of its U.S.-based fee businesses to MDP. The transaction values the business at $1.15 billion, plus up to an additional $50 million upon exit, subject to agreed thresholds.
Through a combination of MDPs equity investment of approximately $210 million and debt borrowings by the new business, AmTrust will receive gross cash proceeds of approximately $950 million at closing,... More
