National General profits slump as loss ratio balloons

National General's first-quarter operating profit declined
by 23.2 percent as its P&C loss ratio took on 9.3 percentage
points year-on-year to hit 69.3 percent.
The AmTrust affiliate, which in March briefly delayed the filing
of its 2016 results amid auditing errors at its sister company,
said group operating profit came in at $41.3mn, as diluted earnings
per share fell to $0.38 from $0.50. The result was in line with the
$0.38 per share consensus estimate, as reported by MarketWatch.
Nation