AAME - Atlantic American Corporation, through its subsidiaries, offers life, health, property, and casualty insurance products in the United States. It provides fleet automobile and long-haul physical damage insurance coverage to state governments, local municipalities, and other motor pools and fleets. The company also provides workers? compensation, business automobile, personal automobile, commercial property, general liability, commercial automobile, umbrella, inland marine, and mechanical breakdown coverage services. In addition, it offers ordinary and term life insurance, medicare supplement, cancer, and other supplemental health insurance products. Atlantic American Corporation was incorporated in 1968 and is headquartered in Atlanta, Georgia.
Thursday March 29, 9:41 am ET
Atlantic American Corp. went into the black in 2006, unhampered by charges it faced in 2005. The Atlanta-based insurance holding company (NASDAQ: AAME - News) posted net income of $8.9 million on $179.5 million in revenue, compared with a net loss of $3.2 million on $185.1 million in revenue in 2005. Earnings were 33 cents a share, compared with a loss per share of 21 cents in 2005. The net loss in 2005 was due to a $10.7 million impairment charge for the write down of the value of the company's automotive sector investment holdings. "2006 was a very successful year for Atlantic American in which we reported record pretax earnings," said Hilton H. Howell Jr., president and CEO. "This was a great achievement considering that our results were negatively impacted by an extraordinary assessment from the Mississippi Windstorm Underwriting Association for Hurricane Katrina in the second quarter. We have now completed our repositioning of our business away from hurricane prone areas and expect to conservatively grow our property and casualty premiums in less exposed areas. " biz.yahoo.com
 |
