Atlantic American(AAME) - 2024 Q4 - Annual Results

Financial Performance - Atlantic American Corporation reported a net income of $0.4 million, or$0.02 per diluted share, for Q4 2024, compared to a net loss of $2.2 million, or$(0.11) per diluted share, for Q4 2023[2]. - For the full year 2024, the company had a net loss of $4.3 million, or$(0.23) per diluted share, compared to a net loss of $0.2 million, or$(0.03) per diluted share, for 2023[2]. - The increase in net income for Q4 2024 was primarily due to favorable loss experience in life and health operations, particularly in group life and Medicare supplement lines[2]. - The company experienced unfavorable loss experience in property and casualty operations, particularly in the automobile liability line, contributing to the annual net loss[2]. - The non-GAAP operating loss for the year was $(4.958) million, compared to an operating income of$1.542 million in 2023[8]. Revenue and Premiums - Insurance premiums for life and health increased to $29.351 million in Q4 2024 from$26.138 million in Q4 2023, while property and casualty premiums decreased to $16.053 million from$16.781 million[8]. - Total revenue for Q4 2024 was $49.043 million, up from$46.745 million in Q4 2023, with total revenue for the year at $188.227 million compared to$186.793 million in 2023[8]. Dividends and Shareholder Equity - The company declared an annual dividend of $0.02 per share, payable on April 23, 2025, to shareholders of record as of April 9, 2025[3]. - The company's total shareholders' equity decreased to$99.613 million in 2024 from $107.275 million in 2023[8]. Assets - Total assets increased to$393.428 million as of December 31, 2024, compared to $381.265 million in 2023[8].