State National grows top and bottom line and raises 2017 outlook

Fronting and programme specialist State National reported moderate
top and bottom line growth for the fourth quarter and full-year
2016.
The company, which acts as a front for Nephila, said total
revenues for Q4 climbed 9 percent to $60.1mn, including a 12
percent rise in ceding fees to $20.9mn.
Premiums earned were up 7 percent to $35.4mn, the Texas-based
firm added.
Net income was 1 percent higher at $14.1mn, with Ebitda up 4
percent to $23.7mn and earnings per share...