Atlantic American

Chairman/CEO Hilton H. Howell Jr. has led the company for decades and also leads Gray Television, indicating significant bandwidth split. The company is a controlled entity with c. 75% of common stock beneficially owned by Harriett J.

Robinson plus additional insider stakes; related‑party arrangements include the HQ lease and all 55,000 shares of Series D preferred stock held by an affiliate. While insider alignment exists via ownership, board independence and minority protection are limited.

A previously identified ICFR material weakness in life/health reserving was remediated by Q3 2025, which is a positive step.