Atlantic American reports Q1 EPS (10c) vs. (8c) last year

The increase in net loss for the first quarter of 2024 was primarily the result of a decrease in premium revenue in the life and health operations coupled with unfavorable loss experience in the life and health operations. Premium revenue for the three month period ended March 31, 2024 decreased $1.5M, or 3.4%, to $44.6M from $46.1M in the three month period ended March 31, 2023. Commenting on the results, Hilton Howell, Jr., Chairman, President and Chief Executive Officer, stated, “During the first quarter of 2024 our property and casualty operations performed quite well, increasing insurance premiums over prior year while maintaining a relatively flat level of benefits and losses incurred. Although we did experience a decline in premiums in the life and health operations, we are enthusiastic about our new business initiatives and have recently launched sales activities in additional markets within our Atlantic Capital Life Assurance Company.”