Last $2.20 USD
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AFFM On Other Exchanges
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Exchange
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As of 8:10 PM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

affirmative insurance holdin (AFFM) Snapshot

Open
$2.20
Previous Close
$2.20
Day High
$2.20
Day Low
$2.20
52 Week High
08/23/13 - $3.60
52 Week Low
08/30/13 - $1.10
Market Cap
35.5M
Average Volume 10 Days
1.9K
EPS TTM
$-0.85
Shares Outstanding
16.2M
EX-Date
03/31/09
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for AFFIRMATIVE INSURANCE HOLDIN (AFFM)

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affirmative insurance holdin (AFFM) Details

Affirmative Insurance Holdings, Inc., through its subsidiaries, is engaged in designing, underwriting, and servicing non-standard personal automobile insurance policies for individual consumers in the United States. It offers liability-only policies, which comprise bodily injury liability coverage for insureds involved in accidents that cause bodily injury to others, and also provides them with a defense if others sue for covered damages; and property damage liability coverage for insureds involved in accidents that cause damage to another’s property. The company also provides full coverage policies, which include collision coverage for damage to the insured vehicle as a result of a collision with another vehicle or object; and comprehensive coverage for damages to the insured vehicle as a result of theft, hail, and vandalism. In addition, it distributes non-standard insurance policies underwritten by a county mutual insurance company. Affirmative Insurance Holdings, Inc. distributes its insurance policies through approximately 5,200 independent agents or brokers in Louisiana, Texas, California, Alabama, Illinois, Indiana, and Missouri, as well as through unaffiliated underwriting agencies. The company was formerly known as Instant Insurance Holdings, Inc. Affirmative Insurance Holdings, Inc. was founded in 1998 and is based in Addison, Texas.

affirmative insurance holdin (AFFM) Top Compensated Officers

Chief Executive Officer, Director and Chairma...
Total Annual Compensation: $1.1M
President and Chief Operating Officer
Total Annual Compensation: $701.8K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $414.4K
Compensation as of Fiscal Year 2013.

affirmative insurance holdin (AFFM) Key Developments

Affirmative Insurance Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Affirmative Insurance Holdings Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $46,968,000 compared to $72,780,000 for the same period of last year. Operating loss was $3,526,000 compared to operating profit of $7,321,000 for the same period of last year. Loss before income taxes was $7,023,000 compared to income before income taxes of $1,644,000 for the same period of last year. Net loss was $7,242,000 compared to net income of $1,485,000 for the same period of last year. Diluted loss per common share was $0.47 compared to earnings per diluted share of $0.1 for the same period of last year. Gross written premium managed was $81.6 million compared to $78.2 million reported a year ago. Total gross written premiums managed increased $3.4 million, or 4.3%, compared with the prior year quarter. For the six months, total revenues were $92,494,000 compared to $136,598,000 for the same period of last year. Operating income was $160,000 compared to $6,803,000 for the same period of last year. Loss before income taxes was $6,653,000 compared to $4,429,000 for the same period of last year. Net loss was $6,578,000 compared to $4,766,000 for the same period of last year. Diluted loss per common share was $0.43 compared to $0.31 for the same period of last year. The decrease in revenue was due to the increase in quota-share reinsurance during 2014 and the reduction in commission and fee income due to the sale of its retail business in September 2013. This was partially offset by the growth in gross premiums managed. Gross written premium managed was $189.5 million compared to $174.1 million reported a year ago. Total gross written premiums managed increased $15.4 million, or 8.9%, compared with the prior year period. The increase was primarily due to an increase in renewal policies as well as rate increases. The growth in renewal policies was primarily caused by the significant increase in new policies that began in the second half of 2012 and continued through the majority of 2013. The growth in renewal policies is important to its business as those policies historically have a significantly lower loss ratio than new business policies.

Affirmative Insurance Holdings Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Affirmative Insurance Holdings Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported gross written premiums managed increased $12.1 million, or 12.6%, compared with the first quarter of 2013. This increase was primarily due to an increase in renewal policies as well as rate increases. The growth in renewal policies was primarily caused by the significant increase in new policies that began in the second half of 2012 and continued through the majority of 2013. The growth in renewal policies is important to its business as those policies historically have a significantly lower loss ratio than new business policies. Total revenues were $45.526 million against $63.818 million a year ago. The decrease was due to the reduction in commission and fee income due to the sale of its retail business in September 2013, which was partially offset by the growth in gross premiums managed discussed above. Operating income was $3.686 million against operating loss of $0.518 million a year ago. Income before income tax expense was $0.370 million against loss before income tax expense of $6.073 million a year ago. Net income was $0.664 million or $0.04 per basic and diluted share against net loss of $6.251 million or $0.41 per basic and diluted share a year ago.

Affirmative Insurance Holdings Inc. to Report Q1, 2014 Results on May 15, 2014

Affirmative Insurance Holdings Inc. announced that they will report Q1, 2014 results on May 15, 2014

 

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