AmTrust lost almost a fifth of its market value on Friday after revealing that its financial statements for the last three years were inaccurate and further postponing the release of its formal 10-K statement for 2016.
AmTrust's share price plummeted by over 17 percent in early trading on Friday following a statement late yesterday in which the company revealed that its financial reports for the last three years were wrong
Outgoing Axis Re CEO Jay Nichols has warned that underwriters who fail to latch on to new data and analytics tools are "absolutely going to lose", and that the sector had gotten away with complacency for too long
Last year the US P&C insurance sector fell to an underwriting loss for the first time since Hurricane Sandy hampered profitability in 2012, according to AM Best analysis of 2016 annual statutory statements.
