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Atlantic American(AAME) - 2025 Q1 - Quarterly Results
AAMEAtlantic American(AAME)2025-05-13 17:51

Financial Performance - Atlantic American Corporation reported net income of 0.8million,or0.8 million, or 0.03 per diluted share, for Q1 2025, compared to a net loss of (2.0)million,or(2.0) million, or (0.10) per diluted share, in Q1 2024, marking a significant turnaround [2]. - Premium revenue increased by 2.4million,or5.32.4 million, or 5.3%, to 46.9 million in Q1 2025 from 44.6millioninQ12024,drivenbygrowthinlifeandhealthoperations[2].−OperatingincomeforQ12025was44.6 million in Q1 2024, driven by growth in life and health operations [2]. - Operating income for Q1 2025 was 0.3 million, a recovery from an operating loss of (2.4)millioninQ12024,attributedtoimprovedpremiumrevenueandfavorablelossexperience[3].−TotalrevenueforQ12025reached2.4) million in Q1 2024, attributed to improved premium revenue and favorable loss experience [3]. - Total revenue for Q1 2025 reached 50.1 million, up from 47.0millioninQ12024,reflectingapositivetrendinoverallfinancialperformance[9].CostManagement−Insurancebenefitsandlossesincurredremainedstableat47.0 million in Q1 2024, reflecting a positive trend in overall financial performance [9]. Cost Management - Insurance benefits and losses incurred remained stable at 31.9 million in Q1 2025, slightly down from 31.9millioninQ12024,indicatingeffectivecostmanagement[9].AssetManagement−Thecompany’stotalassetsdecreasedto31.9 million in Q1 2024, indicating effective cost management [9]. Asset Management - The company’s total assets decreased to 388.4 million as of March 31, 2025, from 393.4millionattheendof2024,reflectingastrategicfocusonassetmanagement[9].−Bookvaluepercommonshareincreasedto393.4 million at the end of 2024, reflecting a strategic focus on asset management [9]. - Book value per common share increased to 4.80 in Q1 2025, up from 4.61inQ42024,indicatingimprovedshareholderequity[9].−AtlanticAmericanCorporation′stotalcashandinvestmentsroseto4.61 in Q4 2024, indicating improved shareholder equity [9]. - Atlantic American Corporation's total cash and investments rose to 268.4 million as of March 31, 2025, compared to $265.7 million at the end of 2024, showcasing liquidity strength [9]. Future Outlook - The company anticipates that recent rate adjustments in property and casualty operations will positively impact future results, highlighting a proactive approach to market conditions [4]. - The company remains confident in its long-term growth trajectory, particularly in the life and health segments, despite challenges in property and casualty operations [4].