ATLANTA, Nov. 14, 2025 (GLOBE NEWSWIRE) — Atlantic American Corporation (Nasdaq- AAME) today reported net income of $0.6 million, or $0.02 per diluted share, for the three month period ended September 30, 2025, compared to net loss of ($2.0) million, or ($0.10) per diluted share, for the three month period ended September 30, 2024. The Company had net income of $4.7 million, or $0.22 per diluted share, for the nine month period ended September 30, 2025, compared to net loss of ($4.7) million, or ($0.24) per diluted share, for the nine month period ended September 30, 2024. The increase in net income for the three month and nine month periods ended September 30, 2025 was primarily the result of increases in premium revenue within the automobile liability, inland marine and automobile physical damage lines of business in the property and casualty operations, as well as increases in the Medicare supplement and group accident and health lines of business within the life and health operations. Also contributing to the increase in net income was an increase in unrealized gains on equity securities during the three month and nine month periods ended September 30, 2025.
Operating income increased $2.3 million in the three month period ended September 30, 2025 from the three month period ended September 30, 2024. For the nine month period ended September 30, 2025, operating income increased $7.7 million from the comparable period in 2024. The increase in operating income for the three month and nine month periods ended September 30, 2025 was primarily the result of increases in premium revenue in the automobile liability, inland marine and automobile physical damage lines of business within the property and casualty operations, as well as increases in the Medicare supplement and group accident and health lines of business within the life and health operations, as previously mentioned.
Commenting on the results, Hilton H. Howell, Jr., Chairman, President and Chief Executive Officer, stated, “We are excited to share that Atlantic American delivered strong year-to-date results, with net income of $4.7 million through the first nine months of 2025, a significant turnaround from prior year results. Premium revenue grew nearly 12% year-to-date, driven by robust momentum across both property & casualty and life & health segments, supported by new business and solid retention. Operating income also rose sharply, underscoring the strength of our diversified portfolio and disciplined execution. With these results, we believe we are well-positioned to sustain profitable growth and create long-term value for our shareholders.”
Atlantic American Corporation is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, and property and casualty insurance industries. Its principal insurance subsidiaries are American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company.
Note regarding non-GAAP financial measure: Atlantic American Corporation presents its consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). However, from time to time, the Company may present, in its public statements, press releases and filings with the Securities and Exchange Commission, non-GAAP financial measures such as operating income (loss). We define operating income (loss) as net income (loss) excluding: (i) income tax expense (benefit); (ii) realized investment (gains) losses, net; and (iii) unrealized (gains) losses on equity securities, net. Management believes operating income (loss) is a useful metric for investors, potential investors, securities analysts and others because it isolates the “core” operating results of the Company before considering certain items that are either beyond the control of management (such as income tax expense (benefit), which is subject to timing, regulatory and rate changes depending on the timing of the associated revenues and expenses) or are not expected to regularly impact the Company’s operating results (such as any realized and unrealized investment gains (losses), which are not a part of the Company’s primary operations and are, to a limited extent, subject to discretion in terms of timing of realization). The financial data attached includes a reconciliation of operating income (loss) to net income (loss), the most comparable GAAP financial measure. The Company’s definition of operating income (loss) may differ from similarly titled financial measures used by others. This non-GAAP financial measure should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.
Note regarding forward-looking statements: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks, including, among others: the effects of macroeconomic conditions and general economic uncertainty; unexpected developments in the health care or insurance industries affecting providers or individuals, including the cost or availability of services, or the tax consequences related thereto; disruption to the financial markets; unanticipated increases in the rate, number and amounts of claims outstanding; the level of performance of reinsurance companies under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the Company against losses; changes in the stock markets, interest rates or other financial markets, including the potential effect on the Company’s statutory capital levels; the uncertain effect on the Company of regulatory and market-driven changes in practices relating to the payment of incentive compensation to brokers, agents and other producers; the potential impact of public health emergencies; the incidence and severity of catastrophes, both natural and man-made; the possible occurrence of terrorist attacks; stronger than anticipated competitive activity; unfavorable judicial or legislative developments; the potential effect of regulatory developments, including those which could increase the Company’s business costs and required capital levels; the Company’s ability to distribute its products through distribution channels, both current and future; the uncertain effect of emerging claim and coverage issues; the effect of assessments and other surcharges for guaranty funds and other mandatory pooling arrangements; information technology system failures or network disruptions; risks related to cybersecurity matters, such as breaches of our computer network or those of other parties or the loss of or unauthorized access to the data we maintain; and those other risks and uncertainties detailed in statements and reports that the Company files from time to time with the Securities and Exchange Commission. As a result, undue reliance should not be placed upon forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update any forward-looking statements as a result of subsequent developments, changes in underlying assumptions or facts or otherwise, except as may be required by law.
For further information contact: J. Ross FranklinHilton H. Howell, Jr.Chief Financial OfficerChairman, President & CEOAtlantic American CorporationAtlantic American Corporation404-266-5580404-266-5505
Atlantic American Corporation
Financial Data Three Months Ended Nine Months Ended September 30, September 30,(Unaudited; In thousands, except per share data) 2025 2024 2025 2024 Insurance premiums Life and health$29,472 $27,568 $87,059 $81,691 Property and casualty 22,500 16,214 61,972 51,636 Insurance premiums, net 51,972 43,782 149,031 133,327 Net investment income 2,633 2,477 7,591 7,449 Realized investment gains, net 2 4 18 17 Unrealized gains (losses) on equity securities, net (848) (1,746) 2,528 (1,617)Other income 1 2 7 8 Total revenue 53,760 44,519 159,175 139,184 Insurance benefits and losses incurred Life and health 17,509 16,776 52,459 53,467 Property and casualty 17,962 13,984 48,572 41,025 Insurance benefits and losses incurred, net 35,471 30,760 101,031 94,492 Commissions and underwriting expenses 12,955 11,490 37,505 35,740 Interest expense 779 869 2,326 2,591 Other expense 3,786 3,854 12,293 12,170 Total benefits and expenses 52,991 46,973 153,155 144,993 Income (loss) before income taxes 769 (2,454) 6,020 (5,809)Income tax expense (benefit) 192 (456) 1,325 (1,129) Net income (loss)$577 $(1,998) $4,695 $(4,680) Earnings (loss) per common share (basic)$0.02 $(0.10) $0.22 $(0.24)Earnings (loss) per common share (diluted)$0.02 $(0.10) $0.22 $(0.24) Reconciliation of non-GAAP financial measure Net income (loss)$577 $(1,998) $4,695 $(4,680)Income tax expense (benefit) 192 (456) 1,325 (1,129)Realized investment gains, net (2) (4) (18) (17)Unrealized (gains) losses on equity securities, net 848 1,746 (2,528) 1,617 Non-GAAP operating income (loss)$1,615 $(712) $3,474 $(4,209) September 30, December 31, Selected balance sheet data 2025 2024 Total cash and investments$289,514 $265,696 Insurance subsidiaries 283,380 258,675 Parent and other 6,134 7,021 Total assets 430,855 393,428 Insurance reserves and policyholder funds 249,578 225,106 Debt 37,759 37,761 Total shareholders’ equity 109,488 99,613 Book value per common share 5.10 4.61 Statutory capital and surplus Life and health 34,552 32,443 Property and casualty 48,161 47,670
