Atlantic American Q1 net loss widens to $2.0M; premium revenue falls 3.4%

ATLANTIC AMERICAN CORP

2024-Q1 EPS reported -$0.10 revenue$46,997,000

Net loss of $2.0M ($0.10 per share) vs. loss of $1.4M ($0.08) in Q1 2023.
Premium revenue decreased $1.5M to $44.6M, down 3.4% year-over-year.
Operating loss of $2.4M compared to operating income of $0.6M a year ago.
Life and health operations drove the loss on lower premiums and unfavorable claims; P&C performed well.
Management highlighted new business initiatives and expanded sales in Atlantic Capital Life Assurance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ATLANTIC AMERICAN CORP reported first quarter ended March 31, 2024 results: revenue $44.6 million, net income net loss of $2.0 million, or ($0.10) per common share, EPS ($0.10) per common share.

Period: first quarter ended March 31, 2024
Revenue: $44.6 million
Net income: net loss of $2.0 million, or ($0.10) per common share
EPS: ($0.10) per common share
Result: reported results

Exact text from the filing

coupled with unfavorable loss experience in the life and health operations. Premium revenue for the three month period ended March 31, 2024 decreased $1.5 million, or 3.4%, to $44.6 million from $46.1 million in the three month period ended March 31, 2023. The Company reported operating loss (as defined below) of $2.4 million in the three month period ended March

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Source: SEC EDGAR

accession 0001140361-24-025851

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