Core Insights - Atlantic American Corporation reported a net income of $0.8 million, or $0.03 per diluted share, for Q1 2025, a significant improvement from a net loss of ($2.0) million, or ($0.10) per diluted share, in Q1 2024 [1][10] - The increase in net income was primarily driven by a $2.4 million, or 5.3%, rise in premium revenue, totaling $46.9 million compared to $44.6 million in the same period last year [1][9] - Operating income for Q1 2025 was $0.3 million, a turnaround from an operating loss of ($2.4) million in Q1 2024, attributed to the same factors of increased premium revenue and favorable loss experience [2][9] Financial Performance - Total revenue for Q1 2025 was $50.1 million, up from $47.0 million in Q1 2024 [9] - Insurance premiums from life and health segments increased to $28.6 million from $26.7 million, while property and casualty premiums rose to $18.3 million from $17.9 million [9] - Total benefits and expenses decreased slightly to $49.1 million from $49.5 million year-over-year [9] Management Commentary - The CEO expressed satisfaction with the quarterly results, highlighting improved profitability and growth in insurance premiums, particularly in life and health segments [3] - The company anticipates that recent rate adjustments in property and casualty operations will positively impact future results [3] - Management remains optimistic about long-term growth opportunities for the company [3] Balance Sheet Highlights - As of March 31, 2025, total cash and investments stood at $268.4 million, a slight increase from $265.7 million at the end of 2024 [10] - Total assets decreased to $388.4 million from $393.4 million [10] - Total shareholders' equity increased to $102.4 million from $99.6 million, with a book value per common share rising to $4.80 from $4.61 [10]
Atlantic American Corporation Reports First Quarter Results for 2025