Amwest’s 2nd-Quarter Profits Increase 59%

Amwest Insurance Group’s second-quarter profit rose 59% from a year earlier, and first-half 1987 earnings were up 48%.

Net income for the quarter ended June 30 totaled $755,000, or 38 cents a share, up from $474,000, or 24 cents a share, a year earlier. Gross income from insurance premiums rose 45% to $7.3 million from $4.9 million.

Amwest, an insurance holding company headquartered in Woodland Hills, said profit for the first six months of this year rose to $1.4 million, or 68 cents a share, from $913,000, or 46 cents a share, a year earlier. Gross premium income jumped 48% to $12.9 million from $8.8 million.