Amwest Insurance Group Earnings Drop by 25%

An “unacceptably high” loss ratio, particularly in its property and casualty division, resulted in a 25% drop in second-quarter earnings for Amwest Insurance Group--from $1.3 million last year to $975,000 for the period that ended June 30.

Six-month earnings for the Calabasas-based insurance company were fairly flat, at roughly $3 million.

The firm saw a 24% increase in gross premiums written during the second quarter--to $35.04 million from $28.175 million in the year-ago period. For the first six months of the year, gross premiums have increased by nearly 30%, to $64.38 million.