Amwest Reports 41% Gain for 3rd Quarter

Amwest Insurance Group reported its profit rose 41%, to $768,000, or 39 cents a share in the third quarter ending Sept. 30.

The Woodland Hills insurance-holding company, which specializes in writing surety bonds for bail bondsmen and contractors, said its net premiums earned rose 44%, to $5.7 million. Net premiums earned is a measurement similar to operating revenue. The company said $72,000 of its quarterly profit came from investment gains.

For the nine months, Amwest’s net income rose 45%, to $2.1 million, or $1.06 a share. Net premiums earned rose 48%, to $15.4 million.