EXHIBIT 99.2
June 26, 2006
Dear Shareholders (friends) of AssuranceAmerica,
We continue to be pleased with our overall revenue and pre-tax profit growth. In May, we undertook a conversion to a new technology platform in our Retail Agency Group. We believe this will aid in making our retail branch operations more efficient and scalable.
Following are our May and year-to-date results.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
| | | | | May 2006 (Unaudited) | |
| | | | | Current Month | | | Year-to-Date | |
| | | | | 2006 | | | 2005 | | | Change | | | 2006 | | | 2005 | | | Change | |
| | | | | (In $1,000) | | | % | | | (In $1,000) | | | % | |
| | · Gross Premiums Produced1† | | | $11,357 | | | $ | 8,689 | | | | | 31 | % | | | $ | 70,254 | | | | $ | 45,083 | | | | | 56 | % | |
| | · MGA/Carrier Gross Premiums Produced1,2 | | | $5,523 | | | $ | 3,951 | | | | | 40 | % | | | $ | 37,329 | | | | $ | 17,920 | | | | | 108 | % | |
| | · MGA/Carrier Revenues2 | | | 3,523 | | | | 2,071 | | | | | 70 | % | | | | 19,493 | | | | | 9,358 | | | | | 108 | % | |
| | · Retail Agencies Gross Premium Produced1, 2† | | | 6,952 | | | | 4,737 | | | | | 47 | % | | | | 40,341 | | | | | 27,162 | | | | | 49 | % | |
| | · Retail Agencies Group Revenues2† | | | 1,037 | | | | 731 | | | | | 42 | % | | | | 5,859 | | | | | 3,948 | | | | | 48 | % | |
| | · Company Revenues† | | | 4,362 | | | | 2,802 | | | | | 56 | % | | | | 24,052 | | | | | 13,306 | | | | | 81 | % | |
| | · Company Pre-Tax Income† | | | 145 | | | | 66 | | | | | 120 | % | | | | 1,482 | | | | | 1,024 | | | | | 59 | % | |
| |
| 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 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 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.Historical results are not indicative of future performance.
5500 Interstate North Parkway — RiverEdge One — Suite 600 — Atlanta, Georgia 30328
770.993.8911 — fax 770.984.0173 — www.assuranceamerica.com
