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Last $0.85 USD
Change Today 0.00 / 0.00%
Volume 0.0
AFFM On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

affirmative insurance holdin (AFFM) Snapshot

Open
$0.85
Previous Close
$0.85
Day High
$0.85
Day Low
$0.85
52 Week High
05/28/14 - $2.80
52 Week Low
04/13/15 - $0.50
Market Cap
13.7M
Average Volume 10 Days
2.1K
EPS TTM
$-2.49
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. designs, underwrites, and services non-standard personal automobile insurance policies for individual consumers in the United States. The company offers liability-only policies, including bodily injury liability coverage for insured 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 insured involved in accidents that cause damage to another’s property. It also provides full coverage policies, such as 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 causes other than collision, such as theft, hail, and vandalism. In addition, the company distributes non-standard insurance policies underwritten by a county mutual insurance company. It distributes its insurance policies through approximately 5,000 independent agents or brokers in Louisiana, Texas, California, Alabama, Illinois, Indiana, and Missouri; and an unaffiliated underwriting agency. The company was formerly known as Instant Insurance Holdings, Inc. Affirmative Insurance Holdings, Inc. was founded in 1998 and is based in Addison, Texas.

489 Employees
Last Reported Date: 03/31/15
Founded in 1998

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 and Executive Vice Pr...
Total Annual Compensation: $414.4K
Compensation as of Fiscal Year 2013.

affirmative insurance holdin (AFFM) Key Developments

Affirmative Insurance Holdings Inc. Auditor Raises 'Going Concern' Doubt

Affirmative Insurance Holdings Inc. filed its 10-K on Mar 31, 2015 for the period ending Dec 31, 2014. 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. to Report Q3, 2014 Results on Nov 14, 2014

Affirmative Insurance Holdings Inc. announced that they will report Q3, 2014 results on Nov 14, 2014

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.

 

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