Key Statistics as of September 30, 2012
|| December 31
||Market Cap (millions)
$ 2.0 M
|Avg. Daily Vol. (3 month)
||Shares Outstanding (millions)
|52-Week High (December 6, 2011)
||Public Float (millions)
|52-Week Low (September 20, 2012)
||Percent Held by Insiders:
|50-Day Moving Average
|200-Day Moving Average
- 2012 revenue through 9/30/2012 decreased 26.6% to $32.5 million, compared to $44.3 million in the same period in 2011.
- The Company reported income (loss) from continuing operations of $0.4 million for the quarter and $(1.6) million year-to-date, compared to $(1.3) million and $(3.1) million for the same periods in 2011.
AssuranceAmerica Corporation is an insurance holding company started in 1998 by a team experienced in building successful companies. Through its two divisions, consisting of AssuranceAmerica Insurance Company and the AssuranceAmerica Managing General Agency, LLC, the Company solicits and underwrites non-standard private passenger automobile insurance. AssuranceAmerica’s property and casualty insurance company focuses on writing non-standard automobile business in the states of Alabama, Arizona, Florida, Georgia, Indiana, Louisiana, Mississippi, Missouri, South Carolina, Texas and Virginia. Its Managing General Agency markets AssuranceAmerica’s policies through over 2,700 independent agencies in those states.
Automobile insurance is a legal requirement in all states if an individual is to operate a motor vehicle. However, many drivers find it difficult to obtain adequate coverage for several reasons: The driver may have a poor driving record, i.e. accidents or moving traffic violations, or the applicant may simply be in a high-risk age group. AssuranceAmerica addresses this challenge by offering non-standard private passenger auto insurance that provides the coverage these drivers need. The Company generates revenues from these sources: Premiums from its own insurance products (because of the higher risk, these premiums are higher than standard products) and commissions and fees received by its Managing General Agency. Obviously, one of AssuranceAmerica’s greatest advantages is that it owns, operates and controls the three primary revenue producing elements of the insurance business: product, marketing and sales. Considering the higher premiums that it can charge, and the proficiency of its IT-intensive platform, the Company has the potential for many years of increased revenue, margin and bottom-line growth.
Guy W. Millner, Chairman and CEO
Joseph J. Skruck, President and COO
Mark H. Hain, Executive Vice President, General Counsel, and Secretary
Daniel Scruggs, Vice President and CFO
5500 Interstate North Pkwy
Atlanta, Georgia 30328