Fed National beats consensus as GWP increases by 28%

Florida-based homeowners' insurer Federated National reported
operating earnings of $0.64 per share for the first three months of
the year, beating Wall Street's consensus estimate of $0.58.
Gross written premiums increased by 27.5 percent to $136mn for
the quarter, driven by growth in the carrier's Florida
homeowners' book.
It reported a 23.1 percent uptick in domestic property policies
written to around 253,000 in Q1.
However, the carrier saw a 23.4 percent increase in losses and
loss adjustme