Amwest Posts $1.3-Million Loss in Its 2nd Quarter

Amwest Insurance Group Inc. posted a $1.3-million loss in its second quarter, compared to a $1.7-million profit a year ago.

The Woodland Hills-based specialty property and casualty company posted $25.8 million in premiums written--which is similar to revenues--in its June 30 quarter, compared to $25.3 million in the same period a year ago.

Part of the company’s loss was due to a $1.3-million pretax charge for costs associated with a planned move of its headquarters to a new site in Calabasas. Earlier this year, Amwest acquired Condor Insurance Co., and it plans to consolidate its operations there.

For the six months, Amwest posted a net loss of $1.2 million, compared to a $2.9-million profit last year, while its premiums written climbed 4% to $49 million, up from $47.1 million a year earlier.