Atlas Financial — Investor Presentation (May 2022)
20 slides from Atlas Financial's investor presentation, May 23, 2022
Slide 1: Investor Presentation May 2022
Investor Presentation May 2022 Atlas Financial Holdings, Inc.
Slide 2: Forward-Looking Statements
This presentation includes forward‐looking statements regarding the Company, 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", "esti
Slide 3: About Atlas
F o c u s e d o n “ l i g h t ” c o mm e r c i a l a u t o 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
Slide 4: Atlas Strategic Focus
Atlas Strategic Focus Strategic Realignment Vision To always be a preferred specialty transportation related insurance business that delivers benefit to all stakeholders by leveraging technology, analytics, expertise, partnerships and capital resources. • Deliver s
Slide 5: Explaining the MGA Model
Explaining the MGA Model Knowledge: Managing General Agent Insureds seeking coverage for commercial auto needs (typically individuals and smaller fleets of drivers) Insureds Agents / Brokers MGA Carriers Independent agents seeking options for insureds in order to f
Slide 6: Strategic Focus: MGA Approach Business Model Update
Strategic Focus • Leverage heritage in specialty market • Utilize Atlas’ systems and MGA resources (“AGMI”) • Existing distribution channel cultivated over decade (430+ independent producers) • Re‐capture legacy $200+ million book of business in public auto sectors
Slide 7: Current Status of MGA Programs
Current Status of MGA Programs Strategic Update Paratransit • National Interstate exercised renewal rights • Beginning with policies with December 1, 2021 effective dates, business will be transitioned during subsequent twelve months • Frees up resources to focus o
Slide 8: Initial Indications of Recovery
Initial Indications of Recovery Market Recovery +247% vs. 2021 Data as of May 20, 2022 Data as of May 20, 2022 +394% vs. 2021
Slide 9: Industry Activity Update – Chicago & Nevada
Industry Activity Update – Chicago & Nevada Current Market Recovery Public Auto COVID Impact/Recovery • Part‐time TNC leading Taxi/Livery in total recovery, but all segments showing increased recovery − Chicago TNC: 5,816k trips in March 2022, a 23% increase from l
Slide 10: Industry Activity Update – New York
Industry Activity Update – New York Current Market Recovery In New York, all rideshare drivers are commercially licensed. Outside of New York, increasing demand for rides should result in a tipping point that justifies full time drivers to put vehicles back in ser
Slide 11: Industry Activity Update – New York
Industry Activity Update – New York Current Market Recovery Pre‐COVID, there were nearly two drivers for every one taxi. During COVID, the relationship dropped to 1:1 and is starting to increase reflecting drivers returning to work. Data Source: NYC TLC https://ww
Slide 12: Business Activity Update
Business Activity Update Market Recovery Nationwide submissions and policy issuance generally follows Chicago taxi trip trend. OMNICRON SURGE Taxi and Livery business is continuing to show an improved hit ratio. We ultimately expect this to settle in a range of 40
Slide 13: Financial Statements: Financial Position
Financial Statements Please refer to Form 10‐Q filed March 31, 2022 for additional detail Consolidated Statements of Financial Position See accompanying Notes to Consolidated Financial Statements on the latest Form 10‐ Q.
Slide 14: Financial Statements: Operations
Financial Statements Please refer to Form 10‐Q filed March 31, 2022 for additional detail Consolidated Statements of Operations See accompanying Notes to Consolidated Financial Statements on the latest Form 10‐ Q.
Slide 15: Significant Near-Term Opportunity: Recapturing Historic Business
Significant Near‐Term Opportunity Recapturing Historic Business Policy Comparison • Overall Submissions/Quotes are at only 8% of 2018 • Policies Issued in active states with limits equal to or under $1 million in 2021/22 vs 2018 • 17% of policy count • 25% of vehi
Slide 16: Market Conditions Changing
Market Conditions Changing Market Dynamics Multiple quarters of significant rate increases in commercial auto Source: CIAB Q4‘ 21 Market Survey $53 Billion Addressable Market Poised for Disruption
Slide 17: Recovering from COVID-19 and Beyond
Recovering from COVID‐19 and Beyond Market Evolution Manage through the Pandemic Public Automobile and Ride- sharing companies were impacted as mandated lock- down restrictions were in place and rides fell >90% New Normal Ride-sharing has continued to return in gr
Slide 18: Industry Activity Update – Vision
Industry Activity Update – Vision Current Market Recovery Delivery (Full- and Part-Time) TNC (Full- and Part-Time) FuturePresentPast Limo/ Livery (Full-Time) Delivery (Full-Time) TNC (Part-Time) Limo/ Livery (Full-Time) Taxi (Full-Time) Taxi (Full-Time) Part-Time
Slide 19: Focused Approach to Disrupt Large Market
Focused Approach to Disrupt Large Market Strategic Realignment $53 Billion Addressable Market Poised for Disruption in U.S. Immediate Focus $2.5 - $3 billion “traditional” public auto niche • Atlas’ market share was approximately 12% - 15% in 2018 • $285 million g
Slide 20: Atlas Financial Holdings, Inc. Contact
Atlas Financial Holdings, Inc. 953 American Lane, 3rd Floor Schaumburg, IL 60173 Corporate Headquarters Scott D. Wollney President & Chief Executive Officer Paul A. Romano Vice President and Chief Financial Officer Executive Officers Karin Daly Vice President, The Equity Group Inc. (212) 836‐9623 kd
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