Affirmative Insurance Q4 Revenues Up 9.8% To $110.8m
Distributor and producer of non-standard personal automobile insurance policies Affirmative Insurance Holdings has reported revenues of $110.8m for the fourth quarter of 2009, an increase of 9.8% compared to $100.9m for the same period in 2008.
The company’s gross premiums written for the fourth quarter of 2009 decreased $3.3m, or 3.9%, compared with the fourth quarter of 2008, net premiums earned for the quarter were $89.4m, an increase of 9.8%, compared to $81.4m for the same period last year.
For the fourth quarter ended December 31, 2009, the company posted a net loss of $35.5m, compared to a net income of $1.1m for the same period last year.
For the full year ended 2009 revenues were $456.2m comapred to $446.2m in 2008. Gross premiums written decreased $17.2m, or 4.5%, compared to last year, while net premiums earned in 2009 were $365.4m comapred to $357.3m in 2008. The company reported a net loss of $38.8m in 2009 comapred to a net income of $1.4m in 2008.
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