Financial Performance - Atlantic American Corporation reported a net income of 0.02 per diluted share, for the three months ended December 31, 2024, compared to a net loss of (0.11) per diluted share, for the same period in 2023 [1] - For the year ended December 31, 2024, the company had a net loss of (0.23) per diluted share, compared to a net loss of (0.03) per diluted share, for the year ended December 31, 2023 [1] - The increase in net income for the fourth quarter was primarily due to favorable loss experience in life and health operations, particularly in group life and Medicare supplement lines [1] Business Segments - The company experienced exceptional new sales in its Medicare supplement business during the fourth quarter annual enrollment period, with strong momentum continuing into the new year [2] - Rising costs in the commercial automobile market have affected profitability, prompting the company to take steps to improve rates for that line of business [2] Revenue and Expenses - Total revenue for the three months ended December 31, 2024, was 46.745 million for the same period in 2023 [7] - Insurance premiums for life and health increased to 26.138 million in Q4 2023, while property and casualty premiums decreased slightly from 16.053 million [7] - Total benefits and expenses for the three months ended December 31, 2024, were 49.847 million in the same period in 2023 [7] Dividends and Shareholder Value - The Board of Directors approved an annual dividend of 393.428 million, an increase from 99.613 million from 4.61, down from $4.99 in 2023 [8]
Atlantic American Corporation Reports Fourth Quarter and Year End Results for 2024; Declares Annual Dividend