Message #24 From:
NewsBot Date: December 28, 2006 01:45:00 PM
ASAM News AssuranceAmerica Corporation Announces Writing of First Louisiana Policy
ATLANTA--(BUSINESS WIRE)--ASSURANCEAMERICA CORPORATION (OTCBB: ASAM), an Atlanta based insurance
holding company with operations in Georgia, Florida, South Carolina,
Alabama and Texas announced today that it wrote its first auto insurance
policy in the state of Louisiana.
In announcing AssuranceAmerica’s commencement
of sales in Louisiana, Lawrence (Bud) Stumbaugh, President and CEO, said “Our
company isn’t attempting to be a ‘jack-of-all
trades’ insurance entity writing auto,
homeowners, workers comp and lots of other lines. We are focusing on the
non-standard personal auto niche in an attempt to be expert at growing
our business the right way as opposed to just growing it any old way.
However, we know it is wise to spread risks and enlarge opportunities in
any business. Therefore, we diversify, but we do it geographically.
Writing our first automobile coverage in Louisiana is a continuation of
this strategy and means we are now selling our policies in six states.
Our plans call for continuing expansion into additional states.”
AssuranceAmerica focuses on the specialty automobile insurance
marketplace, primarily in Alabama, Florida, Georgia, South Carolina,
Texas, and Louisiana. Its principal operating subsidiaries are TrustWay
Insurance Agencies, LLC ("Agency"), which sells personal automobile
insurance policies through its 45 retail agencies, AssuranceAmerica
Managing General Agency LLC ("MGA"), which markets the company’s
insurance products through over 1,200 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.
