v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Premium income:      
Net premium written $ 1,276,597 $ 827,226 $ 643,426
Change in unearned premium (239,736) (81,567) (69,544)
Net earned premium 1,036,861 745,659 573,882
Ceding commission - primarily related party 153,953 138,261 113,931
Service and fee income (related parties $16,700; $12,322; $8,622) 108,660 62,067 30,690
Net investment income 55,515 50,517 55,287
Net realized gain (loss) on investments 2,768 5,953 (33,579)
Total revenues 1,357,757 1,002,457 740,211
Expenses:      
Loss and loss adjustment expense 678,333 471,481 327,771
Acquisition costs and other underwriting expenses 398,404 302,809 244,279
Other 86,611 56,403 22,232
Total expenses 1,163,348 830,693 594,282
Income before other income (expense), income taxes and equity in earnings (loss) of unconsolidated subsidiaries 194,409 171,764 145,929
Other income (expenses):      
Foreign currency gain (loss) (2,418) 684 2,459
Interest expense (16,079) (12,902) (16,884)
Acquisition gain on purchase 5,850    
Gain on investment in life settlement contracts net of profit commission 46,892 11,855  
Total other income (expenses) 34,245 (363) (14,425)
Income before income taxes and equity in earnings (loss) of unconsolidated subsidiaries 228,654 171,401 131,504
Provision for income taxes 42,372 47,053 27,459
Income before equity in earnings (loss) of unconsolidated subsidiaries 186,282 124,348 104,045
Equity in earnings (loss) of unconsolidated subsidiaries - related party 7,871 24,044 (822)
Net income 194,153 148,392 103,223
Net income attributable to non-controlling interests of subsidiaries (23,719) (5,927)  
Net income attributable to AmTrust Financial Services, Inc. 170,434 142,465 103,223
Earnings per common share:      
Basic earnings per share $ 2.85 $ 2.39 $ 1.74
Diluted earnings per share $ 2.77 $ 2.36 $ 1.72
Dividends declared per common share $ 0.34 $ 0.29 $ 0.23
Weighted average common shares outstanding:      
Basic 59,836 59,453 59,433
Diluted 61,582 60,346 59,954
Net realized gain (loss) on investments:      
Total other-than-temporary impairment losses (4,411) (21,196) (24,778)
Portion of loss recognized in other comprehensive income         
Net impairment losses recognized in earnings (4,411) (21,196) (24,778)
Other net realized gain (loss) on investments 7,179 27,149 (8,801)
Net realized investment gain (loss) $ 2,768 $ 5,953 $ (33,579)