Atlantic American has reported a net income of $469,000m, or $.02 per diluted share, for the first quarter of 2011, compared to $417,000, or $.01 per diluted share, in the first quarter of 2010.
Total revenue for the first quarter of 2011 increased to $28.1m, an increase of 8.1% from 2010 first quarter revenue of $26.0m.
Premiums for the first quarter of 2011 increased to 8.8% to $25.4m from $23.4 m for the comparable quarter in 2010.
Atlantic American said that the increase in premiums for the 2011 first quarter was due to strong earned premium growth in the property & casualty business coupled with the growth in the life and health business.
Atlantic American chairman, president and CEO Hilton Howell said the results of investment in business development activities continues to be reflected in the increasing premium volume and the firm remain focused on growing its business while minimizing any fixed cost increases.
Atlantic American is an insurance holding company involved, through its subsidiary companies, in specialty markets of the life, health, and property and casualty insurance industries.