Amwest Profit Surges 45% for 1st Quarter

Amwest Insurance Group Inc. in Woodland Hills said its first-quarter profit jumped 45% from a year earlier, to $1.03 million from $713,000.

Amwest, a provider of bail bonds and other surety bonds, said the higher earnings included a $159,000 tax benefit. Amwest’s net premiums earned--an insurance industry measure of overall revenue--rose 9% in the quarter that ended March 31, to $12 million from $11 million.