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Amtrust Financial Services, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Nov 9, 2018. Its latest SEC filing is a 13F-HR from Oct 19, 2026.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Underwrites property and casualty insurance, including workers’ compensation and commercial coverage, for small and middle-market businesses, and offers warranty plans for consumer and commercial goods through manufacturers, distributors and retailers.

How Did They Make Money?

Policyholders pay premiums for insurance coverage before covered losses are paid. Most premiums are spread across the policy term; certain warranty premiums are tied to the services expected during their contracts.

FY2017 revenue

Who Were Their Customers?

Small and middle-market businesses obtain insurance mainly through independent brokers and agents. For warranty plans, AmTrust works with manufacturers, distributors, e-commerce and other retailers, and administrators to reach buyers of consumer and commercial goods.

Did Revenues Turn Into Profits?

No. It lost $348.9M in FY2017.

Operating income, FY2017
−8% of revenue
▼ Now a loss vs FY2016 ($513.9M, 9%)
Net income, FY2017
−6% of revenue
▼ Now a loss vs FY2016 ($411M, 8%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q3 FY2018, the three months to Sep 30, 2018
Revenue
▼ −5%
vs $1.6B in Q3 FY2017
Net income
▼ −57% (Loss)
vs −$158.1M in Q3 FY2017
  • Jan 18, 2019 Board approved delisting of preferred shares and subordinated notes
  • Nov 29, 2018 Evergreen Parent and the Karfunkel-Zyskind family completed the go-private merger Public common shares were converted into rights to receive cash, and the common stock was delisted.

Grew. Revenue grew 2.2x in 4 years, from $2.7B in FY2013 to $6B in FY2017, about 22% a year.

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