FedNat beats as profit margins improve

Federated National surpassed the expectations of analysts to
deliver second quarter net income of $4.9mn, a nearly fivefold
increase from the $991,000 in the year-ago quarter.
The $0.37 per share result was higher than the average $0.34
expected by four analysts surveyed by MarketWatch, as total revenue
advanced almost 36 percent to $97.6mn while costs rose at a slower
29 percent.
Gross written premiums fell 1.5 percent to $168.7mn despite a
significant push by the insurer beyond its Florida hea