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AmTrust files Form 10-K, says restatements reduced earnings for prior periods

AmTrust Financial Services Inc. has filed its Form 10-K for the year ended Dec. 31, 2016, including restated financial statements and related disclosures for 2014 and 2015.

The total impact of the restatements to net income attributable to stockholders in 2014 and 2015 was a decline of 7.2% and 11.2%, respectively, the company said. Net income attributable to stockholders in fiscal years 2014, 2015 and 2016 was $402.9 million, $419.1 million and $363.1 million, respectively. The company earlier reported that the restatements would primarily involve the timing of recognition of revenue in the company's service and fee business.

Gross written premium, net earned premium, loss and loss adjustment expense and loss ratio for 2016 and loss and loss adjustment expense reserves as of Dec. 31, 2016, remained unchanged from the amounts previously reported by the company.

AmTrust Financial Services Inc. is now compliant with all of its Nasdaq Stock Market and NYSE listing requirements.