Atlantic American Corporation reports news about its insurance holding company operations in specialty life, health, and property and casualty markets. Through American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company, the company writes products such as automobile liability, inland marine, automobile physical damage, Medicare supplement, group accident and health, group life, and supplemental health coverage.
Recurring updates include quarterly and annual operating results, premium revenue and loss experience by insurance line, annual dividend actions, AM Best credit rating actions for the parent and insurance subsidiaries, and Nasdaq or SEC reporting-status matters tied to periodic filings.
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.
Summary not available.