On April 1, 2013, the Affirmative Insurance Holdings Inc.'s Chairman of the Board and principal executive officer, Gary Y. Kusumi, informed the Board of Directors that he will retire from employment with the company when his current Executive Employment Agreement expires on October 1, 2013. To facilitate the transition of Mr. Kusumi’s duties, the company has appointed its current Executive Vice President and Chief Financial Officer, Michael J. McClure, age 52, to the position of Acting Chief Executive Officer (Acting CEO), which will report to the Board of Directors. Mr. McClure joined the company in May 2007, as Senior Vice President of Financial Planning and Analysis. In November 2007, Mr. McClure was promoted to company’s Executive Vice President and Chief Financial Officer.

Affirmative Insurance Holdings Inc. filed its 10-K on Apr 01, 2013 for the period ending Dec 31, 2012. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Affirmative Insurance Holdings Inc. on March 15, 2013 entered into a $4.8 million loan secured by commercial real estate to provide liquidity to unit Affirmative Insurance Co. The promissory note bears a fixed annual interest rate of 4.95% and requires monthly payments of principal and interest, with the final payment due Dec. 15, 2015. Affirmative Insurance Holdings assigned to a trustee the rents due under the federal agency lease as security for payments. Under an escrow and servicing agreement, the trustee will receive rent due under the lease and make required payments due under the promissory note. The trustee will also maintain certain escrow accounts to pay for the necessary expenses of the property until the promissory note is fully paid.