Amwest Insurance Group’s 4th-Quarter Profit Soars

Amwest Insurance Group reported a 450% jump in profit on a 37% gain in net premiums in its fourth quarter ended Dec. 31. The company reported net income of $345,973, or 25 cents per share, on net premiums of $3.1 million.

For the year, Amwest reported its net income up 151% to $1.2 million, or $1.01 per share. Net premiums increased 31% to nearly $11 million.

Amwest, a 10-year-old insurance holding company based in Woodland Hills, completed its initial public stock offering Dec. 5.