United Kingdom

Profile: Atlantic American Corp (AAME.OQ)

AAME.OQ on NASDAQ Stock Exchange Global Market

24 May 2019
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Atlantic American Corporation, incorporated on January 4, 1968, is a holding company that operates through its subsidiaries in specialty markets within the life and health, and property and casualty insurance industries. The Company's subsidiaries are American Southern Insurance Company and American Safety Insurance Company (together known as American Southern) within the property and casualty insurance industry, and Bankers Fidelity Life Insurance Company and Bankers Fidelity Assurance Company (together known as Bankers Fidelity) within the life and health insurance industry. Each of American Southern and Bankers Fidelity is managed separately based upon the type of products it offers, and is evaluated on its individual performance.

Property and Casualty Operations

American Southern consists of the Company's property and casualty operations and its primary product lines include business automobile insurance policies, General Liability Insurance policies and surety bonds. Business automobile insurance policies provide bodily injury and/or property damage liability coverage, uninsured motorist coverage and physical damage coverage for commercial accounts. General liability insurance policies cover bodily injury and property damage liability for both premises and completed operations exposures for general classes of business. Surety bonds are contracts under which one party, the insurance company issuing the surety bond, guarantees to a third party that the primary party will fulfill an obligation in accordance with a contractual agreement. American Southern provides business automobile insurance coverage, on a multi-year contract basis, to state Governments, local municipalities and other motor pools and fleets (block accounts). American Southern is licensed to do business in approximately 30 states and the District of Columbia. While the majority of American Southern's premiums are derived from its automobile lines of business, American Southern also offers personal property, inland marine and general liability coverages. Additionally, American Southern directly provides surety bond coverage for school bus transportation and subdivision construction, as well as performance and payment bonds.

Life and Health Operations

Bankers Fidelity consists of the life and health operations of the Company and offers a range of life and supplemental health products with a focus on the senior markets. Products offered by Bankers Fidelity include ordinary and term life insurance, Medicare supplement, and other accident and health insurance products. Health insurance products, primarily Medicare supplement insurance, including both whole and term life insurance policies, accounted for the balance. Bankers Fidelity's principal products include life insurance products, Medicare supplement insurance, and other accident and health insurance. Life insurance products include non-participating individual term and whole life insurance policies with a range of riders and options. Policy premiums are dependent upon a number of factors, including issue age, level of coverage and selected riders or options. Medicare supplement insurance includes eight of the 11 standardized Medicare supplement policies, which provide insurance coverage for certain expenses not covered by the Medicare program, including copayments and deductibles. Other accident and health insurance coverage's include various policies providing for the payment of standard benefits in connection with the treatment of diagnosed cancer and other critical illnesses, as well as a number of other policies providing nursing facility care, accident expense, hospital indemnity and disability coverages.

The Company competes with Americo Life, GTL, Lincoln Heritage, Medico, Monumental, Mutual of Omaha, New Era, Standard Life, Transamerica and United Healthcare.

Company Address

Atlantic American Corp

4370 Peachtree Rd Ne
ATLANTA   GA   30319-3054
P: +1404.2665500
F: +1404.2665596

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