{"id":825931,"date":"2025-03-14T10:03:09","date_gmt":"2025-03-14T14:03:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/"},"modified":"2025-03-14T10:03:09","modified_gmt":"2025-03-14T14:03:09","slug":"am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/","title":{"rendered":"AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries<\/b><\/p>\n<p>OLDWICK, N.J.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>AM Best <\/b>has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of \u201ca\u201d (Excellent) of American Southern Insurance Company (Topeka, KS), and its wholly owned and 100% reinsured subsidiary, American Safety Insurance Company, (collectively referred to as American Southern Group). Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of \u201ca-\u201d (Excellent) of Bankers Fidelity Life Insurance Company, and its wholly owned and 100% reinsured subsidiaries, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company, (collectively referred to as Bankers Fidelity Life Insurance Group [BFLIG]). Concurrently, AM Best has affirmed the Long-Term ICR of \u201cbbb-\u201d (Good) of the publicly traded parent company, Atlantic American Corporation (Atlantic American) [NASDAQ: AAME]. All companies are domiciled Atlanta, GA, unless otherwise specified. The outlook of these Credit Ratings (ratings) is stable.\n<\/p>\n<p>\nThe ratings of American Southern Group reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).\n<\/p>\n<p>\nAmerican Southern Group\u2019s balance sheet strength is supported by the strongest level of risk-adjusted capitalization, as measured by Best\u2019s Capital Adequacy Ratio (BCAR), moderate underwriting leverage and an appropriate reinsurance program. Financial flexibility is sufficient considering the group\u2019s strongest BCAR scores and access to capital markets through Atlantic American. These positive rating factors are partially offset by the group\u2019s substantial annual stockholder dividend payments to Atlantic American, who uses it to service its debt. The ratings also consider the financial leverage and interest coverage at Atlantic American, with an adjusted debt-to-capital ratio of 19.9% as of Sept. 30, 2024. The interest coverage ratios benefit from a trend of underwriting and operating earnings in the insurance operating companies.\n<\/p>\n<p>\nAmerican Southern Group has exhibited operating profitability historically over the last decade, driven by positive underwriting and net investment incomes. Underwriting results have been profitable since 2014, attributed to management\u2019s disciplined underwriting approach and local market expertise. However, an underwriting loss was reported through the first nine months of 2024, driven by a higher frequency and severity of auto liability claims. This was partially offset by favorable reserve development in general liability and lower loss adjusted expenses from reduced claims costs. The neutral business profile assessment reflects American Southern Group\u2019s established position as an experienced writer of specialty program business, primarily for state governments, local municipalities and other large motor pools and fleets.\n<\/p>\n<p>\nThe ratings of BFLIG reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and appropriate ERM.\n<\/p>\n<p>\nBFLIG maintains the strongest level of risk-adjusted capitalization, as measured by BCAR, for its insurance, investment and business risks. The impact of volatile operating results in recent years on capital and surplus levels has been offset by substantial capital contributions from Atlantic American. Balance sheet strength is enhanced by access to an undrawn external borrowing capacity and sufficient liquidity metrics. Fluctuating operating performance was driven by varying Medicare supplement underwriting results. Corrective actions, including rate increases, more stringent underwriting and business diversification to lower risk ancillary health and life products, drove positive underwriting results in the two years before 2024. However, the organization reported unfavorable underwriting results in 2024, owing to elevated expenses and a higher Medicare supplement loss ratio. BFLIG\u2019s neutral business profile reflects the continued diversification of its business via growth of ancillary health and life premiums and further contraction of its Medicare supplement segment. The ratings also reflect BFLIG\u2019s strategic role within the Atlantic American organization.\n<\/p>\n<p><b>This press release relates to Credit Ratings that have been published on AM Best\u2019s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best\u2019s <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fratings.ambest.com%2Fratingeventdisclosures.aspx&amp;esheet=54224127&amp;newsitemid=20250314877171&amp;lan=en-US&amp;anchor=Recent+Rating+Activity&amp;index=1&amp;md5=5f56e2fee1a866cf1f3136b80cd8f31d\"><b>Recent Rating Activity<\/b><\/a><b> web page. For additional information regarding the use and limitations of Credit Rating opinions, please view <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww3.ambest.com%2Fambv%2Fratingmethodology%2FOpenPDF.aspx%3Fri%3D1787&amp;esheet=54224127&amp;newsitemid=20250314877171&amp;lan=en-US&amp;anchor=Guide+to+Best%27s+Credit+Ratings&amp;index=2&amp;md5=6ca8361e3d5aac7acf3db07ab7f3706d\"><b>Guide to Best&#8217;s Credit Ratings<\/b><\/a><b>. For information on the proper use of Best\u2019s Credit Ratings, Best\u2019s Performance Assessments, Best\u2019s Preliminary Credit Assessments and AM Best press releases, please view <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ambest.com%2Fratings%2Fguidetouse.pdf&amp;esheet=54224127&amp;newsitemid=20250314877171&amp;lan=en-US&amp;anchor=Guide+to+Proper+Use+of+Best%26%238217%3Bs+Ratings+%26amp%3B+Assessments&amp;index=3&amp;md5=be0e2d88d44fbe126f05bc7d1ebae9c4\"><b>Guide to Proper Use of Best\u2019s Ratings &amp; Assessments<\/b><\/a><b>.<\/b><\/p>\n<p><b>AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ambest.com%2F&amp;esheet=54224127&amp;newsitemid=20250314877171&amp;lan=en-US&amp;anchor=www.ambest.com&amp;index=4&amp;md5=7ca3e179788ac98041cfdeee4fd8e9aa\"><b>www.ambest.com<\/b><\/a><b>.<\/b><\/p>\n<p class=\"bwalignc\"><b>Copyright \u00a9 2025 by A.M. Best Rating Services, Inc. and\/or its affiliates. ALL RIGHTS RESERVED.<\/b><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250314877171r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250314877171\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250314877171\/en\/<\/a><\/span><\/p>\n<p><b>Christine DePalma, CPCU, ASLI<br \/>\n<\/b><br \/><b>Financial Analyst<br \/>\n<\/b><br \/><b>+1 908 882 1732<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:christine.depalma@ambest.com\">christine.depalma@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Brian Virostek<br \/>\n<\/b><br \/><b>Financial Analyst<br \/>\n<\/b><br \/><b>+1 908 882 2417<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:brian.virostek@ambest.com\">brian.virostek@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Christopher Sharkey<br \/>\n<\/b><br \/><b>Associate Director, Public Relations<br \/>\n<\/b><br \/><b>+1 908 882 2310<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:christopher.sharkey@ambest.com\">christopher.sharkey@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Al Slavin<br \/>\n<\/b><br \/><b>Senior Public Relations Specialist<br \/>\n<\/b><br \/><b>+1 908 882 2318<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:al.slavin@ambest.com\">al.slavin@ambest.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Europe United States North America Georgia New Jersey Kansas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Professional Services Insurance Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250314877171\/en\/828829\/3\/AM_Best_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of \u201ca\u201d (Excellent) of American Southern Insurance Company (Topeka, KS), and its wholly owned and 100% reinsured subsidiary, American Safety Insurance Company, (collectively referred to as American Southern Group). Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of \u201ca-\u201d (Excellent) of Bankers Fidelity Life Insurance Company, and its wholly owned and 100% reinsured subsidiaries, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company, (collectively referred to as Bankers Fidelity Life Insurance Group [BFLIG]). Concurrently, AM Best has affirmed the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-825931","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of \u201ca\u201d (Excellent) of American Southern Insurance Company (Topeka, KS), and its wholly owned and 100% reinsured subsidiary, American Safety Insurance Company, (collectively referred to as American Southern Group). Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of \u201ca-\u201d (Excellent) of Bankers Fidelity Life Insurance Company, and its wholly owned and 100% reinsured subsidiaries, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company, (collectively referred to as Bankers Fidelity Life Insurance Group [BFLIG]). 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Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of \u201ca-\u201d (Excellent) of Bankers Fidelity Life Insurance Company, and its wholly owned and 100% reinsured subsidiaries, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company, (collectively referred to as Bankers Fidelity Life Insurance Group [BFLIG]). Concurrently, AM Best has affirmed the &hellip; Continue reading \"AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/","og_site_name":"Market Newsdesk","article_published_time":"2025-03-14T14:03:09+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250314877171r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries","datePublished":"2025-03-14T14:03:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/"},"wordCount":869,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250314877171r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-atlantic-american-corporation-and-its-subsidiaries\/","name":"AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries - 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