ATLANTA, April 27, 2020 (GLOBE NEWSWIRE) — 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.
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