| Address:
|
59 MAIDEN LANE
6TH FLOOR |
| City: |
NEW YORK |
|
State: |
NY |
|
Zip Code: |
10038 |
| Telephone: |
(212) 220-7120 |
|
Description of Business
|
Primary SIC Code:
6411 |
| (As filed with the SEC)
|
|
|
This Annual Report on Form 10-K, together with other statements and information
publicly disseminated by AmTrust Financial Services, Inc. ("AmTrust," the
"Company," "we," "our," or "us") is a multinational specialty property and
casualty insurance holding company with operations in the United States, Europe
and Bermuda. We principally provide insurance for small businesses and extended
warranty coverages for consumer and commercial goods. Our products cover large
numbers of insureds and have loss profiles which we believe are predictable. We
target lines of insurance that we believe are generally underserved by larger
insurance carriers. We have grown by hiring teams of underwriters with expertise
in our specialty lines and through acquisitions of renewal rights to established
books of specialty insurance business. Our principal operating subsidiaries are
rated "A-" (Excellent) by A.M. Best Company ("A.M. Best"), which rating is the
fourth highest of 16 rating levels. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 03/2009 | 1.41 | 0.050 | 6.77 | | 12/2008 | 1.37 | 0.050 | 8.47 | | 09/2008 | 1.33 | 0.050 | 10.22 | | 06/2008 | 1.58 | 0.040 | 7.97 | | 03/2008 | 1.51 | 0.040 | 10.74 | | 12/2007 | 1.49 | 0.040 | 9.24 | | 09/2007 | 1.40 | 0.025 | 10.84 | | 06/2007 | 1.21 | 0.025 | 15.53 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2008 |
Leverage |
2008 |
| Net Inc/Comm Equity | 0.34 | Total Liab/Total Assets | 0.88 | | Net Inc/Total Assets | 0.03 | Total Liab/Inv Cap | 0.97 | | Net Inc/Inv Cap | 0.03 | Total Liab/Comm Equity | 11.21 | | Pretax Inc/Net Sales | 0.18 | Interest Coverage Ratio | 7.13 | | Net Inc/Net Sales | 0.14 | Curr Debt/Equity | 0.78 | | Cash Flow/Net Sales | 0.11 | LTD/Equity | 0.90 | | SG&A/NetSales | 0.80 | Total Debt/Equity | 1.68 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 0.52 | Quick Ratio | NA | | Inventory Turnover | NA | Current Ratio | NA | | Inventory Day Sales | NA | Net Rec/Curr Assets | NA | | Net Sales/Work Cap | NA | Inv/Curr Assets | NA | | Net Sales/PP&E | 37.97 | | |
Income Statement (Millions) |
| |
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Total Revenues(Net Sales)
|
171.82
|
165.07
|
107.70
|
171.60
|
|
Cost of Goods Sold
|
NA
|
NA
|
NA
|
NA
|
|
Selling & Admin Exps
|
138.26
|
130.04
|
96.71
|
132.48
|
|
Operating Income
|
33.56
|
35.02
|
11.00
|
39.12
|
|
Interest Exp
|
4.17
|
4.55
|
3.68
|
5.54
|
|
Pretax Income
|
29.42
|
32.52
|
7.83
|
33.57
|
|
Other Income
|
0.03
|
2.04
|
0.52
|
-0.02
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
24.16
|
24.95
|
9.36
|
26.35
|
|
Assets
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Cash & Short Term Investments
|
352.80
|
359.90
|
429.02
|
449.41
|
|
Receivables - Total
|
1,407.69
|
1,390.23
|
1,428.54
|
1,170.84
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
NA
|
NA
|
NA
|
NA
|
|
Net Property, Plant & Equipment
|
15.04
|
15.11
|
13.21
|
13.69
|
|
Total Assets
|
3,164.02
|
3,143.89
|
3,158.33
|
2,995.60
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
301.42
|
316.02
|
349.81
|
526.77
|
|
Debt in Current Liabilities
|
261.02
|
307.10
|
323.15
|
350.74
|
|
Total Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Long-Term Debt
|
350.55
|
354.02
|
356.84
|
167.46
|
|
Total Liabilities
|
2,762.54
|
2,751.35
|
2,770.53
|
2,581.15
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.84
|
0.84
|
0.84
|
0.84
|
|
Retained Earnings
|
274.06
|
252.90
|
230.96
|
224.59
|
|
Treasury Stock
|
-300.30
|
-294.80
|
-294.67
|
-294.67
|
|
Total Stockholders' Equity
|
401.49
|
392.55
|
387.80
|
414.45
|
|
Total Liabilities and Stockholders' Equity
|
3,164.02
|
3,143.89
|
3,158.33
|
2,995.60
|
Cash Flow Summary (Millions) |
|
Categories
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Net Cash Provided by Operating Activities
|
75.48
|
-25.72
|
-0.11
|
45.34
|
|
Net Cash Provided by Investing Activities
|
-51.44
|
52.11
|
42.59
|
-400.09
|
|
Net Cash Provided by Financing Activities
|
-47.97
|
-31.21
|
-27.95
|
377.30
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2004 | 149.96 | 14.11 | -- | | 12/2005 | 240.64 | 37.56 | -- | | 12/2006 | 384.02 | 48.86 | 0.86 | | 12/2007 | 573.16 | 90.14 | 1.49 | | 12/2008 | 573.66 | 82.93 | 1.37 | | Growth Rates | 39.85 | 55.70 | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 03/31/09 | 138 | 21,553 | 36.33 |
|
Report Date :
6/23/2009
 Copyright
2009, EDGAR Online, Inc. All
rights reserved. Replication or redistribution of EDGAR Online, Inc. content is
expressly prohibited without the prior written consent of EDGAR Online, Inc.
EDGAR Online, Inc. shall not be liable for any errors or delays in the content,
or for any actions taken in reliance thereon.
|
|
|