Atlantic American has reported total revenues of $25.9m for the first quarter of 2010, an increase of 1.1% compared to $25.6m for the same quarter in 2009.
Atlantic American’s insurance premiums for the quarter were $23.3m, an increase of 2% compared to $22.7m for the same period last year.
The company reported investment income of $2.5m for the first quarter of 2010, a decrease of 7.5% compared to $2.7m for the same quarter in 2009.
For the quarter ended March 31, 2010, the company posted net income of $417m, or $0.01 per share compared to $256m, or $0.01 per share for the same period last year.
Hilton Howell, chairman, president and CEO of Atlantic, said: “The 2010 first quarter results make us optimistic for the balance of the year. Earned premiums in our life and health business during the first quarter of 2010 were approximately $15.3m, which was an 11% increase over the earned premiums in the first quarter of 2009 and a 3% increase over the earned premiums in the fourth quarter of 2009.”