Amwest Insurance Earns Record $2.75 Million
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Amwest Insurance Group Inc., a Woodland Hills surety bond company, said it earned a record $2.75 million for its fourth quarter ending Dec. 31, up 133% from the $1.18 million of the year-ago period.
The company also posted a record in premiums written, which are the industry’s measure for revenue, of $16.8 million for the quarter, up 14% from $14.69 million the year before.
The year’s earnings were $4.59 million, a rise of 21% from $3.79 million the previous year. Premiums written totaled $70.49 million for the year, up 22% from $57.7 million the prior year.
The company said the growth was due to an increased demand for contract-performance and court bonds.
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