In the Q3, Amerinst Insurance Group Ltd's corporate clients experienced a reduction by -7.3 % in their costs of revenue, compared to a year ago, sequentially costs of revenue grew by 5.41 %. During the corresponding time, Amerinst Insurance Group Ltd recorded a revenue increase by 16.5 % year on year, sequentially revenue grew by 12.23 %. While revenue at the Amerinst Insurance Group Ltd's corporate clients fell by -0.42 % year on year, sequentially revenue grew by 0.54 %.
Customers of Amerinst Insurance Group Ltd saw their costs of revenue decrease by -7.3 % in Q3 compare to a year ago, sequentially costs of revenue grew by 5.41 %, for the same period Amerinst Insurance Group Ltd recorded revenue increase by 16.5 % year on year, sequentially revenue grew by 12.23 %.
Amerinst Insurance Group Ltd's Comment on Sales, Marketing and Customers
Cedar Management Limited provides the day-to-day services necessary for the
administration of our business. Mr. Stuart Grayston, our President, was formerly
a director and officer of Cedar Management Limited, and Mr. Thomas R. McMahon,
our Treasurer and Chief Financial Officer, is a shareholder, officer, director
and employee of Cedar Management Limited.
Lawrence Carlson, a certified public accountant and an independent contractor,
provides the primary accounting functions to APSL. Our agreement with him, which
was effective January 1, 2013, has no ending date but can be terminated by either
party upon 30 days written notice.
The Country Club Bank of Kansas City, Missouri, provides portfolio management
of fixed-income securities and directs our investments pursuant to guidelines
approved by us. Harris Associates L.P., Aurora Investment Management, LLC and
Tower Wealth Managers, Inc. provide discretionary investment advice with respect
to our equity investments. We have retained Oliver Wyman, an independent casualty
actuarial consulting firm, to render advice regarding actuarial matters.
Our only sources of income, other than our investment portfolio, are our Agency
Agreement and Reinsurance Agreement. Without such agreements, we believe current
levels of investment income would provide enough revenue to continue operations
while the Company evaluated other reinsurance and insurance opportunities.
Amerinst Insurance Group Ltd’s Comment on Sales, Marketing and Customers
Cedar Management Limited provides the day-to-day services necessary for the
administration of our business. Mr. Stuart Grayston, our President, was formerly
a director and officer of Cedar Management Limited, and Mr. Thomas R. McMahon,
our Treasurer and Chief Financial Officer, is a shareholder, officer, director
and employee of Cedar Management Limited.
Lawrence Carlson, a certified public accountant and an independent contractor,
provides the primary accounting functions to APSL. Our agreement with him, which
was effective January 1, 2013, has no ending date but can be terminated by either
party upon 30 days written notice.
The Country Club Bank of Kansas City, Missouri, provides portfolio management
of fixed-income securities and directs our investments pursuant to guidelines
approved by us. Harris Associates L.P., Aurora Investment Management, LLC and
Tower Wealth Managers, Inc. provide discretionary investment advice with respect
to our equity investments. We have retained Oliver Wyman, an independent casualty
actuarial consulting firm, to render advice regarding actuarial matters.
Our only sources of income, other than our investment portfolio, are our Agency
Agreement and Reinsurance Agreement. Without such agreements, we believe current
levels of investment income would provide enough revenue to continue operations
while the Company evaluated other reinsurance and insurance opportunities.
Sources:
Amerinst Insurance Group Ltd’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Amerinst Insurance Group Ltd’s corporate clients.
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