AmTrust Financial Services has reported a net income of $22.8 million for the fourth quarter of 2007, up 31.4% compared to the same quarter of 2006.

Gross written premium for the quarter increased by $93.3 million, or 60.9% to $246.4 million from $153.1 million in the fourth quarter of 2006 and net earned premium for the period was $113.3 million, an increase by $10.1 million, or 9.8% from $103.2 million in the same quarter of 2006.

Total revenue for the period increased by $24.3 million, or 20.2% to $144.3 million from $120 million in the corresponding quarter of 2006. Loss ratio for the fourth quarter was 57.6% compared to 62.1% for the same quarter of 2006.

For the year ended December 31, 2007 net income improved by 84.5% to $90.1 million as against the net income of 2006. Gross written premium for the year increased by $313.3 million, or 59.6%, to $839.4 million from $526.1 million in 2006. Likewise, net earned premium for period also rose by $115.2 million, or 35%, to $444.2 million from $329 million.

Total revenue for the year was $579.2 million, representing an increase of $195.4 million, or 50.9% compared to $383.8 million in 2006. The company’s loss ratio for the year was 62.4% compared to 63.9% for the year ended December 31, 2006.