Amwest Insurance Reports Dramatic Hike in Profit

Amwest Insurance Group, a Woodland Hills surety bond company, said its profit for the second quarter that ended June 30 was $971,000, up dramatically from a $324,000 profit in the same period last year. The amount of premiums written edged up slightly in the same period to $19.3 million, from $18.4 million last year.

For the first six months of 1995, Amwest’s profit was $1.9 million, up 27% from $1.5 million in the first two quarters of last year, and the amount of premiums written was $35.5 million, up 6% from the previous year.

The company attributed the earnings growth, which occurred despite an increase in its loss ratio to 33%, to the improved performance of its investment portfolio due to increased interest rates and the strength of the stock market.