ASSURANCEAMERICA CORPORATION (OTCBB: ASAM – News), an Atlanta based insurance holding company with operations primarily in the Southeastern United States, and expanding into select Southwestern and Midwestern states, announced today that AssuranceAmerica Insurance Company wrote its first auto insurance policy in the state of Indiana. While its insurance company or managing general agency (MGA) is licensed to conduct insurance business in fourteen states, Indiana becomes the ninth state in which AssuranceAmerica actively conducts business.
In announcing its newly initiated sales effort in Indiana, Lawrence (Bud) Stumbaugh, President and CEO, said “Indiana is attractive because it is a top 20 auto insurance market and its demographics favor non standard auto insurance. According to National Auto Insurance Reports, Indiana generates almost $3 billion per year in auto insurance premium. Also, Indiana represents a market with a strong history of underwriting profitability and a positive regulatory and judicial environment. It also adds to our geographic diversity as it becomes our first mid-western marketplace.”
AssuranceAmerica focuses on the specialty automobile insurance marketplace, primarily in Alabama, Florida, Georgia, South Carolina, Texas, Louisiana, Mississippi, Arizona, and Indiana. Its principal operating subsidiaries are TrustWay Insurance Agencies, LLC (“Agency”), which sells personal automobile insurance policies through its 50 retail agencies, AssuranceAmerica Managing General Agency LLC (“MGA”), which markets the company’s insurance products through over 1,800 participating independent agencies, and AssuranceAmerica Insurance Company (“Carrier”).
This press release 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, as discussed in the Company’s filings with the U.S. Securities Exchange Commission (SEC). Historical results are not indicative of future performance.