Unico American (UNAM) 8-K Unico American Corporation Reports Results

EXHIBIT 99.1

NEWS RELEASE

CONTACT:	Lester A. Aaron
	Chief Financial Officer
	818) 591-9800

UNICO AMERICAN CORPORATION REPORTS RESULTS

 FOR ITS THIRD QUARTER ENDED SEPTEMBER 30, 2007

Woodland Hills, California, November 9, 2007 - Unico American Corporation (NASDAQ - “UNAM”) announced today that for its quarter ended September 30, 2007, revenues were $12,480,249 and net income was $1,534,251 ($0.27 diluted income per share) compared with revenues of $13,659,332 and net income of $2,214,146 ($0.39 diluted income per share) for the quarter ended September 30, 2006.  Revenues for the nine months ended September 30, 2007, were $37,965,190 and net income was $4,849,163 ($0.85 diluted income per share) compared with revenues of $41,400,153 and net income was $6,058,416 ($1.07 diluted income per share) for the nine months ended September 30, 2006.

Stockholders’ equity was $66,998,902 at September 30, 2007, or $11.91 per common share including unrealized after-tax investment gains of $747,477 compared to stockholders’ equity of $60,871,022 or $10.89 per common share including unrealized after-tax investment losses of $216,074 at December 31, 2006.

Unico American Corporation is an insurance holding company that provides property, casualty, health and life insurance, and related premium financing through its wholly owned subsidiaries.

(Table Follows)

UNICO AMERICAN CORPORATION AND SUBSIDIARIES

SUMMARY OF CONSOLIDATED FINANCIAL DATA

(UNAUDITED)

($ in thousands, except per share)

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2007			2006			2007			2006
Revenues
Insurance Company Revenues
Premium earned	$	12,053		$	14,007		$	37,186		$	43,145
Premium ceded		2,854			3,330			8,794			10,449
Net premium earned		9,199			10,677			28,392			32,696
Investment income		1,717			1,522			5,000			4,277
Other income		28			22			57			70
Total Insurance Company Revenues		10,944			12,221			33,449			37,043
Other Revenues from Insurance Operations
Gross commissions and fees		1,363			1,242			3,966			3,767
Investment income		37			26			115			71
Finance charges and fees earned		133			168			425			513
Other income		3			2			10			6
Total Revenues		12,480			13,659			37,965			41,400
Expenses
Losses and loss adjustment expenses		5,685			5,718			17,103			18,290
Policy acquisition costs		2,096			2,252			6,397			7,018
Salaries and employee benefits		1,432			1,435			4,317			4,118
Commissions to agents/brokers		267			137			707			447
Other operating expenses		828			712			2,292			2,195
Total Expenses		10,308			10,254			30,816			32,068
Income Before Income Taxes		2,172			3,405			7,149			9,332
Income Tax Provision		638			1,191			2,300			3,274
Net Income	$	1,534		$	2,214		$	4,849		$	6,058
PER SHARE DATA
Basic
Earnings Per Share	$	0.27		$	0.40		$	0.86		$	1.09
Weighted Average Shares (000)		5,625			5,590			5,610			5,560
Diluted
Earnings Per Share	$	0.27		$	0.39		$	0.85		$	1.07
Weighted Average Shares (000)		5,686			5,661			5,683			5,648
INSURANCE COMPANY STATUTORY OPERATING RATIOS
Losses and Loss Adjustment Expenses		61.5	%		53.3	%		60.0	%		55.7	%
Underwriting Expenses		30.2	%		29.4	%		30.3	%		29.8	%
Combined Ratio		91.7	%		82.7	%		90.3	%		85.5	%