Atlantic American Q2 net income falls to $3.0M from $6.5M as claims normalize

ATLANTIC AMERICAN CORP

2021-Q2 EPS reported $0.11 revenue$100,532,000

Net income $3.0M ($0.14/diluted) vs $6.5M ($0.30) in Q2 2020; six-month net income $2.5M ($0.11) vs net loss $1.6M ($0.09 loss).
Q2 earnings decline due to $4.5M increase in life & health insurance benefits; claims utilization rose from COVID-19 lows.
Operating income decreased $7.2M in Q2 and $6.6M year-to-date; CEO cites Medicare supplement claims as primary driver.
Property & casualty premiums grew; CEO expects strong second half as enrollment periods begin.

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