Welcome to our dedicated page for Atlantic American Corporation news (Ticker: $AAME), a resource for investors and traders seeking the latest updates and insights on Atlantic American Corporation stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Atlantic American Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Atlantic American Corporation's position in the market.
Atlantic American (Nasdaq: AAME) reported a net loss of $2.0 million for Q1 2024, translating to a loss of $0.10 per share. This is an increase from a net loss of $1.4 million, or $0.08 per share, in Q1 2023. The loss was mainly due to a 3.4% decrease in premium revenue in the life and health operations, totaling $44.6 million, down from $46.1 million the previous year. Additionally, the company experienced unfavorable loss experience in these operations, resulting in an operating loss of $2.4 million, compared to an operating income of $0.6 million in the same period last year.
Despite the decline in life and health premiums, the property and casualty division saw an increase in insurance premiums while keeping benefits and losses relatively flat. CEO Hilton H. Howell, Jr. cited new business initiatives and market expansions for Atlantic Capital Life Assurance Company as reasons for optimism.