AmTrust's Net Income Plummets 73% in Q1

AmTrust Financial Services Inc. has reported first quarter net income of $22.6 million, a 73% decrease from net income of $84 million in the first quarter of 2016. Net written premium in the first quarter was $1.3 billion, a 10.1% increase from $1.2 billion in the prior-year quarter. Gross written premium hit a record of $2.3 billion, fueled by organic growth and contributions from past acquisitions in the small commercial business, specialty risk and extended warranty segments, the company reported last week. First quarter service and fee income increased 6.7%, to $138 million. Loss and lo...