ATLANTIC AMERICAN CORP

Listed Company

AAMECIK 0000008177NasdaqNon-AcceleratedSmaller ReportingLife InsuranceGeorgiaFY ends Dec 31

Period

FY 2024

Revenue

$188.23M

Net Income

$-4.27M

Total Assets

$393.43M

Equity

$99.61M

Shares Out

20.40M

Op. Cash Flow

$4.80M

AAME$1.61−31.20% · past yearDBEQ Basic

Daily closing prices

Business

Atlantic American Corporation is a holding company operating through two specialty insurance subsidiaries: American Southern, which provides commercial automobile, general liability, and surety bond insurance to governmental entities and large motor pools in 32 states; and Bankers Fidelity, which offers individual and group life insurance, Medicare supplement, and accident and health insurance through independent agents across 46 states. The company generates revenue from premiums and investment income, competing on service quality, pricing, and niche market expertise.

Summary from 10-K filed 2025-03-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Insurance premiums, net	179	179	185	184	184
Net investment income	10	10	10	9	8
Realized investment gains, net	1	70,000	30,000	5	7
Unrealized losses on equity securities, net	−2	−2	−8	2	−3
Other income	11,000	17,000	11,000	13,000	76,000
Total revenue	188	187	188	200	195
Insurance benefits and losses incurred	126	123	123	132	120
Commissions and underwriting expenses	48	46	47	47	47
Interest expense	3	3	2	1	2
Other expense	16	15	14	14	12
Total benefits and expenses	193	187	186	194	180
Loss before income taxes	−5	−565,000	2	5	16
Income tax benefit	−996,000	−394,000	571,000	1	3
Net loss	−4	−171,000	2	4	12
Preferred stock dividends	−399,000	−399,000	−399,000	−399,000	−399,000
Net loss applicable to common shareholders	−5	−570,000	1	4	12
Loss per common share (basic) (in dollars per share)	−0.23	−0.03	0.06	0.19	0.58
Loss per common share (diluted) (in dollars per share)	−0.23	−0.03	0.06	0.19	0.56

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Cash and cash equivalents	36	28	29	25	19
Fixed maturities, available-for-sale, at fair value (amortized cost: $236,299 and $238,626; no allowance for credit losses)	213	218	209	261	254
Equity securities, at fair value (cost: $4,939 and $4,936)	8	9	—	—	—
Other invested assets (cost: $7,946 and $6,982)	7	6	5	198,000	3
Policy loans	2	2	2	2	2
Real estate	38,000	38,000	38,000	38,000	38,000
Investment in unconsolidated trusts	1	1	1	1	1
Total investments	230	237	229	283	279
Reinsurance (net of allowance for uncollectible reinsurance of $51 and $61)	23	21	26	27	29
Insurance premiums and other (net of allowance for expected credit losses $201 and $217)	27	24	15	15	28
Deferred income taxes, net	18	16	14	2	0
Deferred acquisition costs	45	44	42	39	40
Other assets	12	9	9	9	8
Intangibles	3	3	3	3	3
Total assets	393	381	367	402	405
Future policy benefits	98	92	86	87	91
Unearned premiums	31	31	28	27	27
Losses and claims	94	87	87	86	79
Other policy liabilities	2	1	1	1	2
Total insurance reserves and policyholder funds	225	212	203	202	199
Accounts payable and accrued expenses	31	25	26	25	26
Revolving credit facility	4	3	2	0	—
Junior subordinated debenture obligations, net	34	34	34	34	—
Total liabilities	294	274	265	261	260
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 55,000 shares issued and outstanding; $5,500 redemption value	55,000	55,000	55,000	55,000	55,000
Common stock, $1 par, 50,000,000 shares authorized; 22,400,894 shares issued; 20,399,758 and 20,402,288 shares outstanding as of 2024 and 2023, respectively	22	22	22	22	22
Additional paid-in capital	57	57	57	57	57
Retained earnings	46	51	52	51	48
Accumulated other comprehensive loss	−19	−16	−22	18	25
Unearned stock grant compensation	−2,000	−13,000	−132,000	−73,000	−284,000
Treasury stock, at cost, 2,001,136 and 1,998,606 shares as of 2024 and 2023, respectively	−7	−7	−7	—	—
Total shareholders' equity	100	107	102	141	145
Total liabilities and shareholders' equity	393	381	367	402	405

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Amortization of deferred acquisition costs	17	16	19	24	19
Acquisition costs deferred	−18	−18	−23	−23	−20
Losses from equity method investees	766,000	360,000	−241,000	290,000	—
Compensation expense related to share awards	11,000	119,000	134,000	211,000	437,000
(Benefit) provision for credit losses	−26,000	26,000	0	—	—
Depreciation and amortization	366,000	652,000	890,000	1	980,000
Deferred income tax benefit	−2	−3	−2	−1	−2
Increase in receivables, net	−6	−4	1	2	1
Increase in insurance reserves and policyholder funds	13	10	854,000	3	−3
Increase (decrease) in accounts payable and accrued expenses	6	−2	—	—	—
Other, net	−3	−370,000	−923,000	−1	2
Net cash provided by operating activities	5	3	6	1	9
Proceeds from investments sold and policy loans redeemed	3	5	4	29	19
Proceeds from investments matured, called or redeemed	14	10	10	12	7
Investments purchased	−14	−18	−17	−35	−27
Additions to property and equipment	−225,000	−80,000	−126,000	−107,000	−233,000
Net cash provided by (used in) investing activities	2	−3	−3	5	−2
Payment of dividends on Series D preferred stock	−399,000	−399,000	−399,000	−399,000	−399,000
Payment of dividends on common stock	−408,000	−408,000	−408,000	−408,000	0
Treasury stock acquired - net employee share-based compensation	−7,000	−12,000	−108,000	−153,000	−91,000
Proceeds from revolving credit facility, net	1	1	2	0	—
Net cash provided by financing activities	186,000	181,000	1	−954,000	−481,000
Net increase (decrease) in cash	7	−562,000	4	5	6
Cash paid for interest	3	3	2	1	2
Cash paid for income taxes	580,000	3	3	3	4

Filings

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Frequently asked questions

What is ATLANTIC AMERICAN CORP's CIK number?

ATLANTIC AMERICAN CORP's SEC CIK number is 0000008177 (8177). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find ATLANTIC AMERICAN CORP's SEC filings?

All of ATLANTIC AMERICAN CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did ATLANTIC AMERICAN CORP last report earnings?

ATLANTIC AMERICAN CORP (AAME) most recently filed an earnings 8-K with the SEC on Nov 14, 2025, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001140361-25-042270). This is ATLANTIC AMERICAN CORP's most recent earnings filing of record — not a forecast of its next earnings date.

What is ATLANTIC AMERICAN CORP's most recent earnings 8-K?

ATLANTIC AMERICAN CORP's latest earnings 8-K (Item 2.02) was filed Nov 14, 2025 under accession 0001140361-25-042270. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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