Atlas Financial — Investor Presentation (April 2022)
18 slides from Atlas Financial's investor presentation, Apr 4, 2022
Slide 1: Investor Presentation April 2022
Investor Presentation April 2022 Atlas Financial Holdings, Inc.
Slide 2: Forward-Looking Statements
Atlas Financial Holdings. – April 2022 2 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",
Slide 3: About Atlas: Focused on light commercial auto
Atlas Financial Holdings. – April 2022 3 F o c u s e d o n “ l i g h t ” c o m m 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 ta
Slide 4: Atlas Strategic Focus: Strategic Realignment
Atlas Financial Holdings. – April 2022 4 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. • Del
Slide 5: Explaining the MGA Model
Atlas Financial Holdings. – April 2022 5 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 orde
Slide 6: Strategic Focus: MGA Approach Business Model Update
Atlas Financial Holdings. – April 2022 6 Strategic Focus • Leverage heritage in specialty market • Utilize Atlas’ systems and MGA resources (“AGMI”) • Existing distribution channel cultivated over decade (420+ independent producers) • Re-capture legacy $200+ million book of business in public auto s
Slide 7: Current Status of MGA Programs
Atlas Financial Holdings. – April 2022 7 Current Status of MGA Programs Strategic Update Paratransit • National Interstate exercised renewal rights • Beginning with policies with December 1 effective dates, business will be transitioned during subsequent twelve months • Frees up resources to focus o
Slide 8: Initial Indications of Recovery
Atlas Financial Holdings. – April 2022 8 Initial Indications of Recovery Market Recovery +300% vs. 2021 +460% vs. 2021
Slide 9: Industry Activity Update – Chicago & Nevada
Atlas Financial Holdings. – April 2022 9 Industry Activity Update – Chicago & Nevada Current Market Recovery Public Auto COVID Impact/Recovery • Part-time TNC leading Taxi/Livery in total recovery, but marginal growth slowing − Chicago TNC: 4,700k trips in February 2022, no change from last month bu
Slide 10: Industry Activity Update – New York
Atlas Financial Holdings. – April 2022 10 Industry Activity Update – New York Current Market Recovery In New York, all rideshare drivers are commercially licensed. Outside of New York, increasing demand for rides should result in a tipping point that justifies full time drivers to put vehicles back
Slide 11: Business Activity Update: Market Recovery
Atlas Financial Holdings. – April 2022 11 Month Submitted Issued Hit Ratio Submitted Issued Hit Ratio January 43 17 39.53% February 52 16 30.77% March 39 20 51.28% April 98 30 30.61% May 2 - 0.00% 90 24 26.67% June - - 0.00% 116 54 46.55% July 27 1 3.70% 146 53 36.30% August 53 2 3.77% 166 99 59.64%
Slide 12: Financial Statements: Consolidated Statements of Financial Position
Atlas Financial Holdings. – April 2022 12 Financial Statements Please refer to Form 10-K filed March 31, 2022 for additional detail Consolidated Statements of Financial Position ($ in ‘000s, except for share and per share data) December 31, 2021 2020 Assets Cash and cash equivalents $ 2,274 $ 5,238
Slide 13: Financial Statements: Consolidated Statements of Operations
Atlas Financial Holdings. – April 2022 13 Financial Statements Please refer to Form 10-K filed March 31, 2022 for additional detail Consolidated Statements of Operations See accompanying Notes to Consolidated Financial Statements on the latest Form 10-K. Consolidated Statements of Operations ($ in ‘
Slide 14: Significant Near-Term Opportunity: Recapturing Historic Business
Atlas Financial Holdings. – April 2022 14 Significant Near-Term Opportunity Recapturing Historic Business Policy Comparison • Submissions/Quotes are at only 6% of 2018 • Issued in 2021 vs 2018 • 14% of policy count • 20% of vehicles • Average premium per vehicle up 43% • $4,774 YTD 2021 • $3,333 in
Slide 15: Market Conditions Changing: Market Dynamics
Atlas Financial Holdings. – April 2022 15 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 16: Recovering from COVID-19 and Beyond
Atlas Financial Holdings. – April 2022 16 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
Slide 17: Focused Approach to Disrupt Large Market
Atlas Financial Holdings. – April 2022 17 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 mil
Slide 18: Corporate Headquarters and Investor Relations
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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