Welcome to our dedicated page for Atlantic Amer news (Ticker: AAME), a resource for investors and traders seeking the latest updates and insights on Atlantic Amer stock.
Atlantic American Corporation (NASDAQ: AAME) is an insurance holding company active in specialty markets of the life, health, and property and casualty insurance industries. Its news flow is driven by regular earnings announcements, updates on segment performance and commentary on key insurance lines such as Medicare supplement, group accident and health, group life, automobile liability, automobile physical damage and inland marine.
On this page, readers can review Atlantic American’s quarterly and annual results as reported in press releases and related Form 8-K filings. These disclosures typically discuss changes in premium revenue across life and health and property and casualty operations, shifts in insurance benefits and losses incurred, and the impact of investment income and unrealized gains or losses on equity securities. Management commentary often highlights factors such as favorable or unfavorable loss experience in specific lines of business and the effect of rate actions or underwriting strategies.
In addition to company-issued results, the news stream may include rating agency actions from AM Best concerning Atlantic American and its principal insurance subsidiaries. These items provide insight into balance sheet strength, risk-adjusted capitalization, business profile assessments and enterprise risk management for American Southern Group and Bankers Fidelity Life Insurance Group.
Investors following AAME’s news can use this page to monitor developments in its life and health and property and casualty segments, observe how trends in claims and premiums influence reported net income and operating income (loss), and see how external credit ratings and risk discussions evolve over time.
Atlantic American Corporation (Nasdaq- AAME) announced a net income of $3.0 million, or $0.14 per diluted share, for Q2 2021, down from $6.5 million, or $0.30 per share in Q2 2020. For the first half of 2021, net income reached $2.5 million, a turnaround from a net loss of $1.6 million in 2020. The decrease in Q2 net income was attributed to a $4.5 million rise in life and health insurance claims. Conversely, the six-month period benefitted from $4.7 million in unrealized gains on equity securities, highlighting market fluctuations. CEO Hilton H. Howell, Jr. expressed optimism about premium growth and positioning for upcoming enrollment periods.
Atlantic American Corporation (Nasdaq- AAME) reported a net loss of $0.4 million, or $0.03 per share, for Q1 2021, a significant improvement from a loss of $8.1 million or $0.40 per share in Q1 2020. This change was driven by unrealized gains on equity securities of $0.7 million, contrasting with losses of $8.5 million in the prior year. Premium revenue rose by 1.2% to $46.1 million, largely due to growth in automobile insurance lines. The operating loss decreased by $0.6 million to $1.4 million, attributed to better performance in life and health operations.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (ICR) of 'a' for American Southern Insurance Company and its subsidiary. The FSR of A- (Excellent) and ICRs of 'a-' were also affirmed for Bankers Fidelity Life Insurance Company. Atlantic American Corporation (NASDAQ: AAME) received a Long-Term ICR of 'bbb-'. The outlook for all ratings is stable, reflecting strong balance sheet strength, adequate operating performance, and disciplined underwriting, despite some financial leverage and dividends paid to service debt.
Atlantic American Corporation (Nasdaq: AAME) reported a significant rise in net income for Q4 2020, reaching $11.8 million or $0.54 per diluted share, compared to $1.3 million or $0.06 in Q4 2019. For the full year, net income was $12.2 million or $0.56 per diluted share, recovering from a net loss of $0.4 million in 2019. Key factors included a $7.0 million increase in realized gains and improved loss experience in insurance operations. The Board announced the reinstatement of the annual dividend at $0.02 per share, payable on April 27, 2021.
Atlantic American Corporation (Nasdaq-AAME) reported a net income of $1.9 million, or $0.09 per diluted share, for the three months ended September 30, 2020, a sign of recovery from a net loss of $1.4 million during the same period in 2019. Year-to-date, net income reached $0.3 million versus a loss of $1.7 million in 2019. Key factors include a $5.5 million decrease in insurance benefits and a significant drop in claims in the Medicare supplement line, attributed to COVID-19 restrictions. The company anticipates strong performance in the property and casualty sector as they celebrate 65 years of Bankers Fidelity Life Insurance.
Atlantic American Corporation (Nasdaq: AAME) reported a net income of $6.5 million ($0.30 per diluted share) for Q2 2020, a significant recovery from a loss of $4.4 million in Q2 2019. However, for the first six months of 2020, the company faced a net loss of $1.6 million, compared to a loss of $0.3 million a year earlier. The quarterly income increase was fueled by a $7.3 million decrease in total benefits and expenses and a $6.7 million rise in unrealized gains on equity securities. Notably, the reduction in Medicare supplement claims attributed to COVID-19 shelter-in-place orders also contributed positively.
Atlantic American Corporation (AAME) reported a net loss of $8.1 million ($0.40 per diluted share) for Q1 2020, contrasting with a net income of $4.2 million ($0.19 per diluted share) in Q1 2019. This loss is mainly due to unrealized losses on equity securities totaling $8.5 million, impacted by the COVID-19 pandemic. However, operating loss improved to $2.0 million from $2.6 million year-over-year, attributed to better loss experience in Medicare supplements. Insurance premiums rose by 1.7% to $45.6 million, driven by an 8.1% increase in property and casualty operations.
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