Amwest Insurance Reports $24,000 Loss
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Amwest Insurance Group Inc., Woodland Hills, reported a $24,000 fourth-quarter loss on $15.8 million in premiums written. The loss was after Amwest took a $2-million pretax charge for Proposition 103 rate rollbacks.
In the quarter that ended Dec. 31, Amwest earned $2.75 million on $16.8 million in premiums written.
For all of 1995, the insurer earned $2.92 million, down 36% from net income of $4.59 million in the prior year. Its premiums written were flat at $70 million.
Amwest specializes in surety bonds, including bail bonds and construction contract guarantees.
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