Atlantic american corporation reports fourth quarter and year end results for 2020; declares annual dividend

Atlanta, march 23, 2021 (globe newswire) -- atlantic american corporation (nasdaq- aame) today reported net income for the three month period ended december 31, 2020 of $11.8 million, or $0.54 per diluted share, as compared to net income of $1.3 million, or $0.06 per diluted share, for the comparable period in 2019. for the year ended december 31, 2020, the company reported net income of $12.2 million, or $0.56 per diluted share, as compared to net loss of $0.4 million, or $0.04 per diluted share, for the comparable period in 2019. the increase in net income during the fourth quarter of 2020 was primarily due to a $7.0 million increase in realized gains coupled with a $5.1 million decrease in insurance benefits and losses incurred for the fourth quarter of 2020 as compared to the comparable quarter of 2019. the increase in net income for the year ended december 31, 2020 was primarily due to a $19.3 million decrease in insurance benefits and losses incurred and a $5.8 million increase in realized gains, somewhat offset by a decrease of $8.9 million of net unrealized gains and losses on equity securities during the year ended december 31, 2020 as compared to the comparable period in 2019. changes in unrealized gains and losses on equity securities for the applicable periods are primarily the result of fluctuations in the market values of the company's equity investments.
AAME Ratings Summary
AAME Quant Ranking