Exhibit 99.1
August 25, 2009
Dear Shareholders (and friends) of AssuranceAmerica,
Our MGA/Carrier continues to show favorable year-over-year comparisons, with the Retail Agencies still holding down our overall results. We will be opening a Florida Claims office this fall to bring a local focus to one of our largest producing states.
Following is our report on July’s results:
| July (Unaudited) | ||||||||||||||||||||||||||||
| Current Month | Year To Date | |||||||||||||||||||||||||||
| 2009 | 2008 | Change | 2009 | 2008 | Change | |||||||||||||||||||||||
| (In $1,000) | % | (In $1,000) | % | |||||||||||||||||||||||||
| • | Gross Premiums Produced1* | $ | 11,952 | $ | 11,882 | .6 | % | $ | 90,948 | $ | 87,828 | 4 | % | |||||||||||||||
| • | MGA/Carrier Gross Premiums Produced1,2 | $ | 9,292 | $ | 7,977 | 16 | % | $ | 67,120 | $ | 60,048 | 12 | % | |||||||||||||||
| • | MGA/Carrier Revenues2 | $ | 5,275 | $ | 4,780 | 10 | % | $ | 36,282 | $ | 33,493 | 8 | % | |||||||||||||||
| • | Retail Agencies Gross Premium Produced1,2* | $ | 3,708 | $ | 5,170 | (28 | )% | $ | 33,766 | $ | 39,138 | (14 | )% | |||||||||||||||
| • | Retail Agencies Group Revenues2* | $ | 612 | $ | 771 | (21 | )% | $ | 5,382 | $ | 6,126 | (12 | )% | |||||||||||||||
| • | Company Revenues* | $ | 5,704 | $ | 5,329 | 7 | % | $ | 39,884 | $ | 37,632 | 6 | % | |||||||||||||||
| • | Company Pre-Tax Income before stock option* | $ | 133 | $ | (139 | ) | 196 | % | $ | 1,985 | $ | 265 | 649 | % | ||||||||||||||
| • | Company Pre-Tax Income* | $ | 104 | $ | (159 | ) | 165 | % | $ | 1,788 | $ | 203 | 781 | % | ||||||||||||||
| 1 | Gross Premiums Produced is a non-GAAP financial metric used as the primary measure of the underlying growth of the company’s revenue stream. | |
| 2 | Before intercompany eliminations | |
| * | Current year financial data includes agency acquisitions that may not be included in prior year data |
To follow your stock, we suggest you go to http://finance.yahoo.com, symbol ASAM.OB.
As always, we appreciate your continued support and interest in AssuranceAmerica Corporation.
As always, we appreciate your continued support and interest in AssuranceAmerica Corporation.
Sincerely,
| /s/ Guy W. Millner | /s/ Joseph J. Skruck | |
| Guy W. Millner | Joseph J. Skruck | |
| Chairman and Chief Executive Officer | President and Chief Operating Officer |
This document is for informational purposes only and not intended for general distribution. It does not constitute an offer to sell, or a solicitation of an offer to buy securities in AssuranceAmerica Corporation. This document 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 of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.