AssuranceAmerica Corporation Announces Best April in Company's History.ATLANTA -- Atlanta based ASSURANCEAMERICA CORPORATION (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ASAM ASAM American Society of Addiction Medicine ASAM Advanced Surface-to-Air Missile ASAM Advanced Services Access Manager ASAM ATM Subscriber Access Multiplexer (Alcatel) ASAM Association for Solidarity with Asylum Seekers and Migrants .OB), today announced its unaudited results for April, 2005. Pre-tax profit grew from $9,339 in April, 2004 to $213,016 in April, 2005. This was the strongest April to date, in terms of premium, revenue, and profitability. Gross premium produced in AssuranceAmerica's wholesale group, made up of its Managing General Agency and its Insurance Carrier, and its retail group, made up of 32 insurance agencies, was $8,343,288, an 18.8% increase over premium produced in April, 2004. Revenue for April, 2005 was $2,627,778, a 26.5% increase over the same period in 2004. In announcing first quarter results, Lawrence (Bud) Stumbaugh, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AssuranceAmerica Corporation said, "We are especially pleased to report that we were able to achieve this significant increase in premium and revenue volume without any increase in Underwriting and Customer Service Support personnel. This and other cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. initiatives were made possible through wide-scale implementation of our web-based agency support interface. We expect to continue to realize these productivity and profitability gains in the future." AssuranceAmerica focuses on the specialty automobile insurance marketplace, primarily in Florida, Georgia and South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . Its principal operating subsidiaries are TrustWay Insurance Agencies, which sells personal automobile insurance policies through its 32 retail agencies, AssuranceAmerica Managing General Agency, and AssuranceAmerica Insurance Company. This press release includes statements that may constitute "forward-looking" statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. |
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