Amwest Insurance Reports Quarterly, Annual Net Loss

Amwest Insurance Group Inc. in Calabasas reported a net loss of $920,000 for the fourth quarter ended Dec. 31, compared with a net income of $1.1 million for the same period the previous year. Revenue rose to $33.4 million compared with $29.5 million.

For the year ended Dec. 31, the company reported net income of $440,000 compared with $6.3 million for 1998. Revenue rose to $124.2 million from $119.9 million.

Amwest is an insurance holding company underwriting surety, property and casualty insurance through Amwest Surety Insurance Co., Condor Insurance Co. and Far West Insurance Co.