Business & Finance
Business and Finance
Business and Finance
Wed, September 21, 2011 
CHICAGO, Sept. 21, 2011 /CNW/ - Atlas Financial Holdings, Inc. ("Atlas" or the "Company"; TSXV: AFH) announced today continued expansion into three additional U.S. states: Arizona, Georgia and Louisiana. Atlas is now selling its core lines of business through the Company's growing retail agent distribution channel in a total of twenty states. Atlas' operating insurance subsidiaries, American Country Insurance Company and American Service Insurance Company, Inc. are collectively licensed in forty-seven states. The Company will continue its expansion activities, increasing its utilization of these licenses.
"Our expansion plans are strategic, with improving market conditions in mind." said Scott Wollney, Atlas President & CEO. "With our increased distribution platform, we believe Atlas is well positioned to grow our specialty niche book of business by competing effectively using our strong value proposition for agents and policyholders alike at a favorable time in the property and casualty insurance market cycle."
The Company's expanded geographic distribution footprint will support both organic growth and potential acquisitions.
About Atlas:
The primary business of Atlas is commercial automobile insurance in the United States, with a niche market orientation and focus on insurance for the "light" commercial automobile sector including taxi cabs, non-emergency paratransit, limousine/livery and business auto. The business of Atlas is carried on through its operating insurance subsidiaries American Country Insurance Company and American Service Insurance Company, Inc. Atlas' operating insurance subsidiaries have decades of experience with a commitment to always be an industry leader in these specialized areas of insurance.
Additional information about Atlas, including a copy of the Company's most recent financial statements and MD&A, can be accessed on the Canadian Securities Administrators' website at [ www.sedar.com ] or through the Company's website at [ www.atlas-fin.com ].
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding the Company and its subsidiaries and businesses. Such statements are based on the current expectations of the management of each entity. The words "anticipate", "expect", "believe", "may", "should", "estimate", "project", "outlook", "forecast" or similar words are used to identify such forward looking information. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the insurance industry, economic factors and the equity markets generally and the risk factors discussed in the "Risk Factors" section of our Management Discussion and Analysis and Annual Report for the year ended December 31, 2010. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company and its subsidiaries undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
