National General Holdings Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Effective Tax Rate Guidance for the Year 2018
For the full year, the company reported net earned premium of $3,654,176,000 compared to $2,995,171,000 a year ago. Total revenues were $4,430,869,000 compared to $3,553,386,000 a year ago. Income before provision for income taxes and earnings of equity method investments was $172,276,000 compared to $214,771,000 a year ago. Net income available to common stockholders was $74,345,000 or $0.68 per diluted share compared to $151,373,000 or $1.40 per diluted share a year ago. Fully diluted book value per share was $13.86 compared to $13.45 a year ago. Operating earnings attributable to the company were $118,065,000 or $1.09 per diluted share compared to $155,466,000 or $1.44 per diluted share a year ago. Book value per share was $14.14 compared to $13.77 a year ago. Operating return on average equity was 7.9% as of December 31, 2017.
For the full year 2018, the company expects effective tax rate of approximately 21%.