AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries
April 27 2020 - 8:49AM
Atlantic American Corporation (Nasdaq- AAME) today announced that
AM Best had affirmed the financial strength rating of A-
(Excellent) for its life and health subsidiary, Bankers Fidelity
Life Insurance Company and its wholly owned and 100% reinsured
subsidiary, Bankers Fidelity Assurance Company. The outlook
for the current rating is stable. Separately, at the same time A.M.
Best affirmed their A (Excellent) rating for American Southern
Insurance Company and its wholly owned and 100% reinsured
subsidiary, American Safety Insurance Company, the Company's
property and casualty subsidiaries. The outlook for that rating is
also stable.
Commenting on the rating results, Hilton H. Howell, Chairman,
President and Chief Executive Officer of Atlantic American stated,
"We are extremely gratified with the ratings affirmation and stable
outlook assigned to our subsidiaries by AM Best. It takes a
great deal of hard work and discipline to maintain such ratings and
we appreciate their continued confidence in our business. In
these uncertain times of the COVID-19 pandemic we continue to honor
our commitment to our insureds, employees and agents while
consistently planning ahead to remain steady and competitive for
when the world returns to our new normal.”
Atlantic American Corporation is an insurance
holding company involved through its subsidiary companies in
specialty markets of the life, health, and property and casualty
insurance industries. Its principal insurance subsidiaries
are American Southern Insurance Company, American Safety Insurance
Company, Bankers Fidelity Life Insurance Company and Bankers
Fidelity Assurance Company.
Note regarding Private Securities Litigation
Reform Act: Except for historical information contained herein,
this press release contains forward-looking statements that involve
a number of risks and uncertainties. Actual results could
differ materially from those indicated by such forward-looking
statements due to a number of factors and risks detailed from time
to time in statements and reports that Atlantic American
Corporation files with the Securities and Exchange Commission.
For further information contact: |
|
|
J. Ross Franklin |
|
Hilton H. Howell, Jr. |
Chief Financial Officer |
|
Chairman, President & CEO |
Atlantic American Corporation |
|
Atlantic American Corporation |
404-266-5580 |
|
404-266-5505 |
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