Exhibit 99.1
2 September 2005
Dear Shareholders and friends of AssuranceAmerica,
We are pleased to share our July Report with you today. We continue to grow our premiums as a result of our MGA/Carrier’s entry into Alabama and Florida. We reached a milestone in July writing over $5 million in gross written premium. The year-to-date increase in our MGA/Carrier’s revenue exceeded 35%. Our Agencies also contributed to our year-over-year revenue growth with a year-over-year increase of 37% through July.
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | | July 2005 | |
| | | (Unaudited) | |
| | | Current Month | | | Year-to-date | |
| | | 2005 | | | 2004 | | | Change | | | 2005 | | | 2004 | | | Change | |
| | | (in $1,000) | | | % | | | (in $1,000) | | | % | |
| · MGA /Carrier Gross Premiums Written | | $ | 5,401 | | | $ | 2,506 | | | | 116 | % | | $ | 28,025 | | | $ | 20,642 | | | | 36 | % |
| · Retail Agencies Gross Premium Produced† | | | 4,745 | | | | 3,746 | | | | 27 | % | | | 36,651 | | | | 28,921 | | | | 27 | % |
| · Retail Agencies Group Revenues*† | | | 750 | | | | 490 | | | | 53 | % | | | 5,410 | | | | 3,945 | | | | 37 | % |
| · Company Revenues | | | 3,083 | | | | 1,991 | | | | 55 | % | | | 19,034 | | | | 13,982 | | | | 36 | % |
| · Company Pre-Tax Income | | | 38 | | | | (53 | ) | | | 172 | % | | | 1,107 | | | | 35 | | | | 3082 | % |
*before inter-company eliminations †Current year financial data includes agency acquisitions that may not be included in prior year data.
To follow your stock and read the full text of our press releases, we suggest you go to http://finance.yahoo.com, symbol ASAM.OB.
Thank you for your continued interest and confidence in AssuranceAmerica Corporation.
Sincerely,
| | | |
/s/
______________________________________ | | /s/
______________________________________ |
Guy W. Millner
Chairman | | Lawrence (Bud) Stumbaugh
President and Chief Executive Officer |
This document is for informational purposes only and is 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.
500 Interstate North Parkway — RiverEdge One — Suite 600 — Atlanta, Georgia 30328
770.933.8911 – fax 770.984.0173 — www.assuranceamerica.com
