ATLANTA, Oct. 17, 2012 (GLOBE NEWSWIRE) -- Atlantic American Corporation (Nasdaq:AAME) today announced that its life and health subsidiary, Bankers Fidelity Life Insurance Company ("Bankers"), had received a financial strength rating upgrade from A.M. Best to A- (Excellent). The outlook for the current rating is stable. Previously Bankers had been rated B++ (Good). Separately, at the same time A.M. Best affirmed their A (Excellent) rating for American Southern Insurance Company, the Company's property and casualty subsidiary. The outlook for that rating is also stable.
Commenting on the rating results, Hilton H. Howell, Chairman, President and Chief Executive Officer of Atlantic American stated, "We are extremely pleased with the ratings actions of A.M. Best. They reflect the hard work and success of all our agents and employees over an extended period of time. It has been a number of years since all of the Atlantic American insurance subsidiaries have had "A ratings." Such achievement does not come easily and we are committed to growing our companies while retaining the discipline to maintain such ratings.
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. Its principal subsidiaries consist of American Southern Insurance Company, American Safety Insurance Company, and Bankers Fidelity Life Insurance Company.
Note regarding Private Securities Litigation Reform Act: Except for historical information contained herein, this press release may contain forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that Atlantic American Corporation files with the Securities and Exchange Commission.