Exhibit 99.2
16 November 2005
Dear Shareholders (and friends) of AssuranceAmerica,
We had a good month, achieving several milestones during the month of September. Total year-to-date Company Revenues crossed the $25 million mark this month and pre-tax income exceeded $1.8 million for the same period. Gross written premium year-to-date in the MGA/Carrier surpassed the $40 million mark as of September 30 as well, a 71% increase over the prior year. On the Retail (Agency) side of our company year-over-year revenue growth is also significant with a year-over-year increase of 36% through September.
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| | | September 2005 (Unaudited) | |
| | | Current Month | | | Year-to-date | |
| | | 2005 | | | 2004 | | | Change | | | 2005 | | | 2004 | | | Change | |
| | | (in $1,000) | | | % | | | (in $1,000) | | | % | |
• MGA/Carrier Gross Premiums Written* | | $ | 6,031 | | | $ | 2,225 | | | | 171 | % | | $ | 40,324 | | | $ | 23,526 | | | | 71 | % |
• MGA/Carrier Revenues* | | | 2,931 | | | | 1,412 | | | | 108 | % | | | 19,751 | | | | 12,942 | | | | 53 | % |
• Retail Agencies Gross Premium Produced*† | | | 4,506 | | | | 3,092 | | | | 46 | % | | | 46,266 | | | | 35,565 | | | | 19 | % |
• Retail Agencies Group Revenues*† | | | 662 | | | | 525 | | | | 26 | % | | | 6,868 | | | | 5,038 | | | | 36 | % |
• Company Revenues† | | | 3,447 | | | | 1,936 | | | | 78 | % | | | 25,866 | | | | 17,980 | | | | 43 | % |
• Company Pre-Tax Income† | | | 602 | | | | (66 | ) | | | | | | | 1,841 | | | | (121 | ) | | | | |
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| * | | Before inter-company eliminations |
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| † | | 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 most recent 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,
| | | | |
| | | | |
| Guy W. Millner | | Lawrence (Bud) Stumbaugh | |
| Chairman | | 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.
5500 Interstate North Parkway — RiverEdge One — Suite 600 — Atlanta, Georgia 30328
770.933.8911 – fax 770.984.0173 —www.assuranceamerica.com
