Atlas Financial — Investor Presentation (August 2022)
21 slides from Atlas Financial's investor presentation, Aug 12, 2022
Slide 1: Investor Presentation August 2022
Investor Presentation August 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", "est
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 cab
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
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
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 sector
Slide 7: Industry Activity Update – Chicago & Nevada
Industry Activity Update – Chicago & Nevada Current Market Recovery Public Auto COVID Impact/Recovery • Part‐time TNC relatively flat while Taxi/Livery continues to show recovery − Chicago TNC: 5,722k trips in June 2022, a 1% decrease from last month but still abo
Slide 8: Industry Activity Update – Chicago Price per Mile
Industry Activity Update – Chicago Price per Mile Current Market Recovery Cost per mile for TNC rides remains higher than pre COVID‐19, resulting in a more attractive competitive position for taxis Data Source: City of Chicago https://data.cityofchicago.org/Transp
Slide 9: Industry Activity Update – New York & San Francisco
Industry Activity Update – New York & San Francisco Current Market Recovery Certain jurisdictions show a reduction in trips which may be slowing the deployment of new vehicles, but does not appear to be resulting in vehicles being taken out of service Broker feedb
Slide 10: Industry Activity Update – Chicago
Industry Activity Update – Chicago Current Market Recovery Taxis are being put into service at a rate similar to demand for both Taxi and TNC rides Data Source: City of Chicago https://data.cityofchicago.org/Transportation/Transportation-Network-Providers-Trips/m
Slide 11: 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 4
Slide 12: Initial Indications of Recovery
Initial Indications of Recovery Market Recovery +167% vs. 2021 Data as of August 11, 2022 Data as of August 11, 2022 +279% vs. 2021
Slide 13: 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 14: Financial Statements: Consolidated Statements of Financial Position
Financial Statements Please refer to Form 10‐Q filed in August 2022 for additional detail Consolidated Statements of Financial Position See accompanying Notes to Consolidated Financial Statements on the latest Form 10‐Q. Atlas Financial Holdings, Inc. Condensed C
Slide 15: Financial Statements: Consolidated Statements of Operations
Financial Statements Please refer to Form 10‐Q filed in August 2022 for additional detail Consolidated Statements of Operations See accompanying Notes to Consolidated Financial Statements on the latest Form 10‐Q. Atlas Financial Holdings, Inc. Condensed Consolida
Slide 16: Financial Statements: Key Operating Metrics
Financial Statements Please refer to Form 10‐Q filed in August 2022 for additional detail Key Operating Metrics See accompanying Notes to Consolidated Financial Statements on the latest Form 10‐ Q. AGMI Operating Expenses reduced by 25% Anticipated sale via aucti
Slide 17: Significant Near-Term Opportunity Recapturing Historic Business
Significant Near‐Term Opportunity Recapturing Historic Business Policy Comparison (as of Q2 2022) • Overall Submissions/Quotes are at only 10% of 2018 • Policies Issued in active states with limits equal to or under $1 million in 2021/22 vs 2018 • 22% of policy c
Slide 18: 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 19: 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 g
Slide 20: 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
Slide 21: Atlas Financial Holdings, Inc. 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
Atlas Financial Holdings — Investor Presentation (August 2022) on 6ix