AmTrust misses consensus after $65mn Q4 reserve charge

Fourth quarter operating earnings at AmTrust plummeted 42 percent
year-on-year to $66.3mn after it took a $65.0mn charge to
strengthen reserves in its specialty programme segment.
Operating earnings per share (EPS) for the quarter were $0.38, a
long way beneath the analyst consensus forecast of $0.73, as cited
by MarketWatch.
CEO Barry Zyskind said the firm was strengthening prior-year
loss and loss adjustment reserves in its specialty programme
segment following extensive internal actuarial rev