Atlantic American Corporation reported a net loss for the second quarter due to unfavorable loss experience

From GlobeNewswire: 2024-08-14 12:11:00

Atlantic American Corporation (Nasdaq: AAME) reported a net loss of $0.7 million for the three month period ended June 30, 2024, compared to net income in 2023. Operating income decreased due to unfavorable loss experience in life and health operations. The company remains optimistic about future performance despite challenges.

The net loss for the six-month period ended June 30, 2024, was $2.7 million, compared to net income in 2023. Operating income decreased due to unfavorable loss experience in life and health operations and property and casualty operations. Strategic investments in technology and talent aim to improve future performance and sales seasons.

Atlantic American Corporation, an insurance holding company, includes subsidiary companies involved in life, health, and property and casualty insurance. The company aims to build a foundation for future performance through strategic investments in key states. Their property and casualty division has shown resilience in writing profitable business.

The company defines operating income as net income excluding certain items. They believe operating income is useful for investors as it isolates core operating results. Forward-looking statements indicate potential risks and uncertainties. Atlantic American Corporation remains committed to their long-term strategy and opportunities ahead.



Read more at GlobeNewswire:: Atlantic American Corporation Reports Second Quarter