Amwest Insurance Income Up 24% in Fourth Quarter

Amwest Insurance Group Inc., a Woodland Hills-based firm that specializes in surety bonds, reported a 24% increase in its fourth-quarter net income after premiums written increased 34% to record levels.

Amwest said its profit for the quarter that ended Dec. 31 came to $1.18 million, up from $954,000 a year earlier. Premiums written, a figure comparable to revenue, surged to $14.7 million, from $11 million a year earlier.

For the year that ended Dec. 31, Amwest’s net income rose 11% to $3.79 million, from $3.4 million for 1992. Premiums written in 1993 totaled $57.7 million, up 14% from $50.5 million in 1992.