NEW YORK (AP) — Insurer AmTrust Financial Services Inc. on Tuesday said its third-quarter profit fell 11 percent as it paid out more claims and expenses rose.
The New York-based company, which sells property and casualty coverage along with worker compensation policies and other specialty products, said its net income for the three months ended Sept. 30 fell to $35.1 million, or 57 cents per share. That was down from $39.3 million, or 64 cents per share, in the same quarter last year.
Analysts, on average, were expecting profit of 60 cents per share, according to FactSet.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
