State National posts gains in profit and revenue

State National reported strong first
quarter growth in both its top and bottom line as demand for both
its programme and lender services products rose.The Bedford, Texas-based company, which
acts as a front for giant insurance-linked securities (ILS) fund
Nephila, said total revenue climbed 18 percent to $59mn.That figure includes premiums earned which
totaled $35.5mn, a 15 percent uptick from the 2016 period.Net income surged 19 percent to $11.5mn, or
$0.27 a share, while Ebitda rose 17...