AmTrust reserves may need 'hundreds of millions': KBW

AmTrust's shares are likely to remain in the doldrums unless
the company can provide a more robust justification for its
reserves or takes a potential nine-digit reserve hit, according to
KBW analysts.
In a research note released yesterday KBW analyst Meyer Shields
expressed discomfort with the carrier's stated reserves, and
warned that a sizeable reserve charge had become increasingly
likely.
The analyst said the reserves were difficult to defend given the
dissonance between management rhetoric