Gross unrealized holding gain (loss) arising in the period

$ 4,430

$ 11,022

Available-for-sale securities:

6,302

(11,965)

Related income tax effect

(2,206)

4,188

Less: reclassification adjustment for net realized gains included in net income (1)

(1,571)

^[1]

(8,741)

^[1]

Related income tax effect (2)

550

^[2]

3,059

^[2]

Net effect on other comprehensive income (loss)

3,075

(13,459)

Derivative financial instrument:

Fair value adjustment to derivative financial instrument

141

Related income tax effect

(49)

Net effect on other comprehensive income (loss)

Total other comprehensive income (loss), net of tax

3,075

(13,367)

Total comprehensive income (loss)

$ 7,505

$ (2,345)

[1]	Realized gains on available-for-sale securities recognized in realized investment gains, net on the accompanying consolidated statements of operations.
[2]	Income tax effect on reclassification adjustment for net realized gains included in income tax expense on the accompanying consolidated statements of operations.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $) In Thousands, unless otherwise specified	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Unearned Stock Grant Compensation [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2012	$ 70	$ 22,401	$ 57,180	$ 8,621	$ 19,571	$ 0	$ (2,107)	$ 105,736
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	11,022	0	0	0	11,022
Other comprehensive income (loss), net of tax	0	0	0	0	(13,367)	0	0	(13,367)
Preferred stock redeemed	(5)	0	(495)	0	0	0	0	(500)
Dividends on common stock	0	0	0	(423)	0	0	0	(423)
Dividends on preferred stock	0	0	0	(482)	0	0	0	(482)
Restricted stock grants	0	0	393	0	0	(704)	311	0
Amortization of unearned compensation	0	0	0	0	0	219	0	219
Purchase of shares for treasury	0	0	0	0	0	0	(1,416)	(1,416)
Issuance of shares under stock plans	0	0	25	0	0	0	113	138
Balance at Dec. 31, 2013	65	22,401	57,103	18,738	6,204	(485)	(3,099)	100,927
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	4,430	0	0	0	4,430
Other comprehensive income (loss), net of tax	0	0	0	0	3,075	0	0	3,075
Preferred stock redeemed	(10)	0	(990)	0	0	0	0	(1,000)
Dividends on common stock	0	0	0	(834)	0	0	0	(834)
Dividends on preferred stock	0	0	0	(468)	0	0	0	(468)
Restricted stock grants	0	0	328	0	0	(559)	231	0
Amortization of unearned compensation	0	0	0	0	0	584	0	584
Purchase of shares for treasury	0	0	0	0	0	0	(2,603)	(2,603)
Issuance of shares under stock plans	0	0	50	0	0	0	34	84
Balance at Dec. 31, 2014	$ 55	$ 22,401	$ 56,491	$ 21,866	$ 9,279	$ (460)	$ (5,437)	$ 104,195

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares purchased (in shares)	687,964	371,220
Shares issued under stock plans (in shares)	21,629	72,552

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 4,430	$ 11,022
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred acquisition costs	10,678	8,960
Acquisition costs deferred	(10,150)	(10,336)
Realized investment gains, net	(1,571)	(8,741)
Gain on purchase of debt securities (Note 6)	(750)	0
Increase in insurance reserves and policyholder funds	1,721	7,815
Compensation expense related to share awards	584	219
Depreciation and amortization	932	600
Deferred income tax expense (benefit)	102	(329)
(Increase) decrease in receivables, net	(1,419)	1,448
(Decrease) increase in other liabilities	(47)	2,292
Other, net	(57)	70
Net cash provided by operating activities	4,453	13,020
Cash flows from investing activities:
Proceeds from investments sold	75,441	108,745
Proceeds from investments matured, called or redeemed	1,916	11,414
Investments purchased	(82,836)	(112,466)
Additions to property and equipment	(4,127)	(1,338)
Acquisition of Bankers Fidelity Assurance, net of $1,317 acquired	0	(2,540)
Net cash (used in) provided by investing activities	(9,606)	3,815
Cash flows from financing activities:
Payment for debt securities (Note 6)	(6,750)	0
Redemption of Series D preferred stock	(1,000)	(500)
Payment of dividends on Series D Preferred Stock	(471)	(483)
Payment of dividends on common stock	(834)	(423)
Proceeds from shares issued under stock plans	84	138
Purchase of shares for treasury	(2,603)	(1,416)
Net cash used in financing activities	(11,574)	(2,684)
Net (decrease) increase in cash	(16,727)	14,151
Cash and cash equivalents at beginning of year	33,102	18,951
Cash and cash equivalents at end of year	16,375	33,102
Supplemental cash flow information:
Cash paid for interest	1,649	1,961
Cash paid for income taxes	$ 445	$ 536

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) which, for insurance companies, differ in some respects from the statutory accounting practices prescribed or permitted by regulatory authorities. These financial statements include the accounts of Atlantic American Corporation (“Atlantic American” or the “Parent”) and its subsidiaries (collectively with the Parent, the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. Operating results achieved in any historical period are not necessarily indicative of results to be expected in any future period. At December 31, 2014, the Parent owned four insurance subsidiaries, Bankers Fidelity Life Insurance Company and its wholly-owned subsidiary, Bankers Fidelity Assurance Company (“BFAC”) (together known as “Bankers Fidelity”), and American Southern Insurance Company and its wholly-owned subsidiary, American Safety Insurance Company (together known as “American Southern”), in addition to one non-insurance subsidiary, xCalibre Risk Services, Inc. BFAC was acquired on December 18, 2013. The results of operations of BFAC are included from the date of acquisition. The Parent has issued a guarantee of all liabilities of Bankers Fidelity. Premium Revenue and Cost Recognition Life insurance premiums are recognized as revenue when due; accident and health insurance premiums are recognized as revenue over the premium paying period and property and casualty insurance premiums are recognized as revenue over the period of the contract in proportion to the amount of insurance protection provided. Benefits and expenses are accrued as incurred and are associated with premiums as they are earned so as to result in recognition of profits over the lives of the contracts. For traditional life insurance and long-duration health insurance, this association is accomplished by the provision of a future policy benefits reserve and the deferral and subsequent amortization of the costs of acquiring business, “deferred policy acquisition costs” (principally commissions, premium taxes, and other incremental direct costs of issuing policies). Deferred policy acquisition costs are amortized over the estimated premium-paying period of the related policies using assumptions consistent with those used in computing the policy benefits reserve. The Company provides for insurance benefits and losses on accident, health, and property-casualty claims based upon estimates of projected ultimate losses. Deferred policy acquisition costs for property and casualty insurance and short-duration health insurance are amortized over the effective period of the related insurance policies. Contingent commissions, if contractually applicable, are ultimately payable to agents based on the underlying profitability of a particular insurance contract or a group of insurance contracts, and are periodically evaluated and accrued as earned. In periods in which revisions are made to the estimated loss reserves related to the particular insurance contract or group of insurance contracts subject to such commissions, corresponding adjustments are also made to the related accruals. Deferred policy acquisition costs are expensed when such costs are deemed not to be recoverable from future premiums (for traditional life and long-duration health insurance) and from the related unearned premiums and investment income (for property and casualty and short-duration health insurance). Intangibles Intangibles consist of goodwill and other indefinite-lived intangibles. Goodwill represents the excess of cost over the fair value of net assets acquired and is not amortized. Other indefinite-lived intangibles represent the value of licenses acquired in the 2013 acquisition of BFAC (Note 16) and are not amortized. The Company periodically reviews its goodwill and other indefinite-lived intangibles to determine if any adverse conditions exist that could indicate impairment. Conditions that could trigger impairment include, but are not limited to, a significant change in business climate that could affect the value of the related asset, an adverse action, or an assessment by a regulator. No impairment of the Company’s recorded intangibles was identified during the periods presented. Investments The Company’s investments in both fixed maturities, which include bonds and redeemable preferred stocks, and equity securities, which include common and non-redeemable preferred stocks, are classified as “available-for-sale” and, accordingly, are carried at fair value with the after-tax difference from amortized cost, as adjusted if applicable, reflected in shareholders’ equity as a component of accumulated other comprehensive income or loss. The fair values for fixed maturities and equity securities are largely determined by either independent methods prescribed by the National Association of Insurance Commissioners (“NAIC”), which do not differ materially from publicly quoted market prices, when available, or independent broker quotations. The Company owns certain fixed maturities that do not have publicly quoted market values, but had an estimated fair value as determined by management of $2,214 at December 31, 2014. Such values inherently involve a greater degree of judgment and uncertainty and therefore ultimately greater price volatility than the value of securities with publicly quoted market values. Policy loans and real estate are carried at historical cost. Other invested assets are comprised of investments in limited partnerships, limited liability companies, and real estate joint ventures, and are accounted for using the equity method. If the value of a common stock, preferred stock, other invested asset, or publicly traded bond declines below its cost or amortized cost, if applicable, and the decline is considered to be other than temporary, a realized loss is recorded to reduce the carrying value of the investment to its estimated fair value, which becomes the new cost basis. The evaluation for an other than temporary impairment is a quantitative and qualitative process, which is subject to risks and uncertainties in the determination of whether declines in the fair value of investments are other than temporary. Potential risks and uncertainties include, among other things, changes in general economic conditions, an issuer’s financial condition or near term recovery prospects and the effects of changes in interest rates. In evaluating a potential impairment, the Company considers, among other factors, management’s intent and ability to hold the securities until price recovery, the nature of the investment and the expectation of prospects for the issuer and its industry, the status of an issuer’s continued satisfaction of its obligations in accordance with their contractual terms, and management’s expectation as to the issuer’s ability and intent to continue to do so, as well as ratings actions that may affect the issuer’s credit status. Premiums and discounts related to investments are amortized or accreted over the life of the related investment as an adjustment to yield using the effective interest method. Dividends and interest income are recognized when earned or declared. The cost of securities sold is based on specific identification. Unrealized gains (losses) in the value of invested assets are accounted for as a direct increase (decrease) in accumulated other comprehensive income in shareholders’ equity, net of deferred tax and, accordingly, have no effect on net income. Income Taxes Deferred income taxes represent the expected future tax consequences when the reported amounts of assets and liabilities are recovered or paid. They arise from differences between the financial reporting and tax basis of assets and liabilities and are adjusted for changes in tax laws and tax rates as those changes are enacted. The provision for income taxes represents the total amount of income taxes due related to the current year, plus the change in deferred income taxes during the year. A valuation allowance is recognized if, based on management’s assessment of the relevant facts, it is more likely than not that some portion of a deferred tax asset will not be realized. Earnings Per Common Share Basic earnings per common share are based on the weighted average number of common shares outstanding during the relevant period. Diluted earnings per common share are based on the weighted average number of common shares outstanding during the relevant period, plus options and share awards outstanding using the treasury stock method and the assumed conversion of the Series D preferred stock, if dilutive. Unless otherwise indicated, earnings per common share amounts are presented on a diluted basis. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and investments in short-term, highly liquid securities with original maturities of three months or less from date of purchase. Recently Issued Accounting Standards In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”). The main objective of ASU 2015-01 is to identify, evaluate, and improve areas of GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. ASU 2015-01 eliminates from GAAP the concept of extraordinary items. Presently, if an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. Although the amendments in ASU 2015-01 will eliminate requirements for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company adopted ASU 2015-01 effective January 1, 2014. Since ASU 2015-01 was a disclosure only update, its adoption did not have a material impact on the Company’s financial condition or results of operations. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Significant estimates and assumptions are used in developing and evaluating deferred income taxes, deferred acquisition costs, insurance reserves, investments, and commitments and contingencies, among others, and actual results could differ materially from management’s estimates.

Investments

12 Months Ended

Dec. 31, 2014

Investments [Abstract ]

Investments

Note 2. Investments

The following tables set forth the carrying value, gross unrealized gains, gross unrealized losses and amortized cost of the Company’s investments, aggregated by type and industry, as of December 31, 2014 and December 31, 2013.

Investments were comprised of the following:

	2014
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	33,898	$	1,459	$	30	$	32,469
Obligations of states and political subdivisions		11,459		681		—		10,778
Corporate securities:
Utilities and telecom		13,980		2,355		—		11,625
Financial services		59,224		3,404		588		56,408
Other business – diversified		70,139		2,076		1,830		69,893
Other consumer – diversified		25,388		332		547		25,603
Total corporate securities		168,731		8,167		2,965		163,529
Redeemable preferred stocks:
Financial services		608		8		—		600
Other consumer – diversified		192		—		—		192
Total redeemable preferred stocks		800		8		—		792
Total fixed maturities		214,888		10,315		2,995		207,568
Equity securities:
Common and non-redeemable preferred stocks:
Utilities and telecom		1,403		439		—		964
Financial services		6,083		739		—		5,344
Other business – diversified		226		179		—		47
Other consumer – diversified		11,212		5,598		—		5,614
Total equity securities		18,924		6,955		—		11,969
Other invested assets		2,995		—		—		2,995
Policy loans		2,202		—		—		2,202
Real estate		38		—		—		38
Investments in unconsolidated trusts		1,238		—		—		1,238
Total investments	$	240,285	$	17,270	$	2,995	$	226,010

	2013
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	17,240	$	576	$	210	$	16,874
Obligations of states and political subdivisions		7,611		402		17		7,226
Corporate securities:
Utilities and telecom		16,532		1,353		7		15,186
Financial services		50,531		1,736		320		49,115
Other business – diversified		70,326		870		2,906		72,362
Other consumer – diversified		36,712		391		1,745		38,066
Total corporate securities		174,101		4,350		4,978		174,729
Redeemable preferred stocks:
Financial services		2,159		4		41		2,196
Other consumer – diversified		192		—		—		192
Total redeemable preferred stocks		2,351		4		41		2,388
Total fixed maturities		201,303		5,332		5,246		201,217
Equity securities:
Common and non-redeemable preferred stocks:
Utilities and telecom		1,474		510		—		964
Financial services		5,761		514		560		5,807
Other business – diversified		178		131		—		47
Other consumer – diversified		14,477		8,863		—		5,614
Total equity securities		21,890		10,018		560		12,432
Other invested assets		2,123		—		—		2,123
Policy loans		2,369		—		—		2,369
Real estate		38		—		—		38
Investments in unconsolidated trusts		1,238		—		—		1,238
Total investments	$	228,961	$	15,350	$	5,806	$	219,417

Bonds having an amortized cost of $10,615 and $10,101 and included in the tables above were on deposit with insurance regulatory authorities at December 31, 2014 and 2013, respectively, in accordance with statutory requirements.

The following table sets forth the carrying value, amortized cost, and net unrealized gains (losses) of the Company’s investments aggregated by industry as of December 31, 2014 and 2013.

	2014						2013
	Carrying Value		Amortized Cost		Unrealized Gains		Carrying Value		Amortized Cost		Unrealized Gains (Losses)
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	33,898	$	32,469	$	1,429	$	17,240	$	16,874	$	366
Obligations of states and political subdivisions		11,459		10,778		681		7,611		7,226		385
Utilities and telecom		15,383		12,589		2,794		18,006		16,150		1,856
Financial services		65,915		62,352		3,563		58,451		57,118		1,333
Other business – diversified		70,365		69,940		425		70,504		72,409		(1,905	)
Other consumer – diversified		36,792		31,409		5,383		51,381		43,872		7,509
Other investments		6,473		6,473		—		5,768		5,768		—
Investments	$	240,285	$	226,010	$	14,275	$	228,961	$	219,417	$	9,544

The following tables present the Company’s unrealized loss aging for securities by type and length of time the security was in a continuous unrealized loss position as of December 31, 2014 and 2013.

	2014
	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	3,695	$	7	$	2,692	$	23	$	6,387	$	30
Corporate securities		43,996		1,604		9,293		1,361		53,289		2,965
Total temporarily impaired securities	$	47,691	$	1,611	$	11,985	$	1,384	$	59,676	$	2,995

	2013
	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	8,326	$	210	$	—	$	—	$	8,326	$	210
Obligations of states and political subdivisions		1,018		17		—		—		1,018		17
Corporate securities		92,049		3,714		6,938		1,264		98,987		4,978
Redeemable preferred stocks		704		41		—		—		704		41
Common and non-redeemable preferred stocks		3,724		560		—		—		3,724		560
Total temporarily impaired securities	$	105,821	$	4,542	$	6,938	$	1,264	$	112,759	$	5,806

The evaluation for an other than temporary impairment is a quantitative and qualitative process, which is subject to risks and uncertainties in the determination of whether declines in the fair value of investments are other than temporary. Potential risks and uncertainties include, among other things, changes in general economic conditions, an issuer’s financial condition or near term recovery prospects and the effects of changes in interest rates. In evaluating a potential impairment, the Company considers, among other factors, management’s intent and ability to hold the securities until price recovery, the nature of the investment and the expectation of prospects for the issuer and its industry, the status of an issuer’s continued satisfaction of its obligations in accordance with their contractual terms, and management’s expectation as to the issuer’s ability and intent to continue to do so, as well as ratings actions that may affect the issuer’s credit status.

During the years ended December 31, 2014 and 2013, the Company recorded impairments related to the following investments.

	2014			2013
Common and non-redeemable preferred stocks	$	196		$	—

As of December 31, 2014, securities in an unrealized loss position primarily included certain of the Company’s investments in fixed maturities within the other diversified business, other diversified consumer and financial services sectors. Securities in an unrealized loss position reported in the other diversified business sector included gross unrealized losses of $1,416 related to investments in fixed maturities in the oil and gas industry. The Company does not currently intend to sell nor does it expect to be required to sell any of the securities in an unrealized loss position. Based upon the Company’s expected continuation of receipt of contractually required principal and interest payments and its intent and ability to retain the securities until price recovery, as well as the Company’s evaluation of other relevant factors, including those described above, the Company has deemed these securities to be temporarily impaired as of December 31, 2014.

The following describes the fair value hierarchy and provides information as to the extent to which the Company uses fair value to measure the value of its financial instruments and information about the inputs used to value those financial instruments. The fair value hierarchy prioritizes the inputs in the valuation techniques used to measure fair value into three broad levels.

Level 1

Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. The Company’s financial instruments valued using Level 1 criteria include cash equivalents and exchange traded common stocks.

Level 2

Observable inputs, other than quoted prices included in Level 1, for an asset or liability or prices for similar assets or liabilities. The Company’s financial instruments valued using Level 2 criteria include significantly all of its fixed maturities, which consist of U.S. Treasury securities and U.S. Government securities, obligations of states and political subdivisions, and certain corporate fixed maturities, as well as its non-redeemable preferred stocks. In determining fair value measurements using Level 2 criteria, the Company utilizes various external pricing sources.

Level 3

Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Fair value is based on criteria that use assumptions or other data that are not readily observable from objective sources. The Company’s financial instruments valued using Level 3 criteria consist of a limited number of fixed maturities. As of December 31, 2014 and 2013, the value of the Company’s fixed maturities valued using Level 3 criteria was $2,214 and $1,991, respectively. The use of different criteria or assumptions regarding data may have yielded materially different valuations.

As of December 31, 2014, financial instruments carried at fair value were measured on a recurring basis as summarized below:

Assets:	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Fixed maturities	$	—	$	212,674	$	2,214	$	214,888
Equity securities		13,148		5,776		—		18,924
Cash equivalents		15,009		—		—		15,009
Total	$	28,157	$	218,450	$	2,214	$	248,821

As of December 31, 2013, financial instruments carried at fair value were measured on a recurring basis as summarized below:

Assets:	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Fixed maturities	$	—	$	199,312	$	1,991	$	201,303
Equity securities		16,406		5,484		—		21,890
Cash equivalents		31,618		—		—		31,618
Total	$	48,024	$	204,796	$	1,991	$	254,811

The following is a roll-forward of the Company’s financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) from January 1, 2013 to December 31, 2014.

	Fixed Maturities			Derivative (Liability)
Balance, January 1, 2013	$	2,124		$	(141	)
Total unrealized gains (losses) included in comprehensive income		(133	)		141
Balance, December 31, 2013		1,991			—
Total unrealized gains included in comprehensive income		223			—
Balance, December 31, 2014	$	2,214		$	—

The Company’s fixed maturities valued using Level 3 inputs consist solely of issuances of pooled debt obligations of multiple, smaller financial services companies. They are not actively traded and valuation techniques used to measure fair value are based on future estimated cash flows (based on current cash flows) discounted at reasonable estimated rates of interest. There are no assumed prepayments and/or default probability assumptions as a majority of these instruments contain certain U.S. government agency strips to support repayment of the principal. Other qualitative and quantitative information received from the original underwriter of the pooled offerings is also considered, as applicable. The Company’s derivative financial instrument was an interest rate collar which terminated on March 4, 2013, the stated maturity date, by its terms.

The amortized cost and carrying value of fixed maturities at December 31, 2014 and 2013 by contractual maturity were as follows. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	2014				2013
	Carrying Value		Amortized Cost		Carrying Value		Amortized Cost
Due in one year or less	$	1,000	$	1,000	$	—	$	—
Due after one year through five years		16,523		15,891		11,709		11,097
Due after five years through ten years		114,620		112,381		108,358		107,846
Due after ten years		64,990		61,704		76,882		77,884
Varying maturities		17,755		16,592		4,354		4,390
Totals	$	214,888	$	207,568	$	201,303	$	201,217

Investment income was earned from the following sources:

	2014			2013
Fixed maturities	$	9,720		$	9,890
Equity securities		510			632
Other		137			287
Total investment income		10,367			10,809
Less investment expenses, included in other expenses		(536	)		(474	)
Net investment income	$	9,831		$	10,335

A summary of realized investment gains (losses) follows:

	2014
	Fixed Maturities			Equity Securities			Total
Gains	$	2,449		$	—		$	2,449
Losses		(665	)		(213	)		(878	)
Realized investment gains, net	$	1,784		$	(213	)	$	1,571

	2013
	Fixed Maturities			Equity Securities			Total
Gains	$	8,521		$	293		$	8,814
Losses		(45	)		(28	)		(73	)
Realized investment gains, net	$	8,476		$	265		$	8,741

Proceeds from the sales of investments were as follows:

	2014		2013
Fixed maturities	$	75,244	$	107,728
Equity securities		—		972
Other investments		197		45
Total proceeds	$	75,441	$	108,745

The Company’s bond portfolio included 83% investment grade securities, as defined by the NAIC, at December 31, 2014.

The entire disclosure for investments in certain debt and equity securities.

Insurance Reserves And Policyholder Funds [Abstract]

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-Glossary Equity Security

-URI http://asc.fasb.org/extlink&oid=6511694

+ Details

Insurance Reserves and Policyholder Funds

12 Months Ended

Dec. 31, 2014

Insurance Reserves and Policyholder Funds

Note 3. Insurance Reserves and Policyholder Funds

The following table presents the Company’s reserves for life, accident and health, and property and casualty losses, claims and loss adjustment expenses.

					Amount of Insurance In Force, Net
	2014		2013		2014		2013
Future policy benefits
Life insurance policies:
Ordinary	$	53,555	$	52,915	$	235,856	$	237,694
Mass market		2,475		2,715		3,148		3,504
Individual annuities		130		135		—		—
		56,160		55,765	$	239,004	$	241,198
Accident and health insurance policies		14,685		14,099
		70,845		69,864
Unearned premiums		24,544		27,415
Losses, claims and loss adjustment expenses		66,625		63,018
Other policy liabilities		2,080		2,076
Total insurance reserves and policyholder funds	$	164,094	$	162,373

Annualized premiums for accident and health insurance policies were $88,956 and $91,359 at December 31, 2014 and 2013, respectively.

Future Policy Benefits

Liabilities for life insurance future policy benefits are based upon assumed future investment yields, mortality rates, and withdrawal rates after giving effect to possible risks of unexpected claim experience. The assumed mortality and withdrawal rates are based upon the Company’s experience. The interest rates assumed for life, accident and health future policy benefits are generally: (i) 2.5% to 5.5% for issues prior to 1977, (ii) 7% graded to 5.5% for 1977 through 1979 issues, (iii) 9% for 1980 through 1987 issues, (iv) 5% to 7% for 1988 through 2009 issues, (v) 4% for 2010 through 2012 issues, and (vi) 3.5% for 2013 to 2014 issues.

Loss and Claim Reserves

Loss and claim reserves represent estimates of projected ultimate losses and are based upon: (a) management’s estimate of ultimate liability and claims adjusters’ evaluations for unpaid claims reported prior to the close of the accounting period, (b) estimates of incurred but not reported (“IBNR”) claims based on past experience, and (c) estimates of loss adjustment expenses. The estimated liability is periodically reviewed by management and updated, with changes to the estimated liability recorded in the statement of operations in the year in which such changes are known.

Activity in the liability for unpaid loss and claim reserves is summarized as follows:

	2014			2013
Balance at January 1	$	63,018		$	62,873
Less: Reinsurance receivable on unpaid losses		(14,314	)		(18,743	)
Net balance at January 1		48,704			44,130

Incurred related to:
Current year		104,225			97,904
Prior years		(483	)		(1,657	)
Total incurred		103,742			96,247

Paid related to:
Current year		72,443			66,705
Prior years		27,680			24,968
Total paid		100,123			91,673
Net balance at December 31		52,323			48,704
Plus: Reinsurance receivable on unpaid losses		14,302			14,314
Balance at December 31	$	66,625		$	63,018

Prior years’ development was primarily the result of better than expected development on prior years IBNR reserves for certain lines of business.

Following is a reconciliation of total incurred claims to total insurance benefits and losses incurred:

	2014		2013
Total incurred claims	$	103,742	$	96,247
Cash surrender value and matured endowments		1,574		1,215
Benefit reserve changes		879		2,910
Total insurance benefits and losses incurred	$	106,195	$	100,372

Reinsurance

12 Months Ended

Dec. 31, 2014

Reinsurance [Abstract]

Reinsurance

Note 4. Reinsurance

In accordance with general practice in the insurance industry, portions of the life, property and casualty insurance written by the Company are reinsured; however, the Company remains liable with respect to reinsurance ceded should any reinsurer be unable or unwilling to meet its obligations. Approximately 99% of the Company’s reinsurance receivables were due from two reinsurers as of December 31, 2014. Reinsurance receivables of $1,218 were due from Swiss Reinsurance Corporation, rated “AA-” by Standard & Poor’s and “A+” (Superior) by A.M. Best and $12,986 were due from General Reinsurance Corporation, rated “AA+” by Standard & Poor’s and “A++” (Superior) by A.M. Best. Allowances for uncollectible amounts are established against reinsurance receivables, if appropriate.

The effects of reinsurance on premiums written, premiums earned and insurance benefits and losses incurred were as follows:

	2014			2013
Direct premiums written	$	138,276		$	141,313
Assumed premiums written		18,231			16,702
Ceded premiums written		(5,890	)		(7,607	)
Net premiums written	$	150,617		$	150,408

Direct premiums earned	$	141,212		$	141,720
Assumed premiums earned		18,166			11,517
Ceded premiums earned		(5,890	)		(7,607	)
Net premiums earned	$	153,488		$	145,630

Provision for benefits and losses incurred	$	110,912		$	105,828
Reinsurance loss recoveries		(4,717	)		(5,456	)
Insurance benefits and losses incurred	$	106,195		$	100,372

Components of reinsurance receivables were as follows:

	2014		2013
Receivable on unpaid losses	$	14,302	$	14,314
Receivable on paid losses		46		—
Total reinsurance receivables	$	14,348	$	14,314

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

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-Name Regulation S-X (SX)

-Number 210

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Income Taxes

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Income Taxes

Note 5. Income Taxes

Total income taxes were allocated as follows:

	2014		2013
Total tax expense on income	$	474	$	184

Tax expense (benefit) on components of shareholders’ equity:
Net unrealized gains (losses) on investment securities		1,656		(7,247	)
Fair value adjustment to derivative financial instrument		—		49
Total tax expense (benefit) on shareholders’ equity		1,656		(7,198	)
Total tax expense (benefit)	$	2,130	$	(7,014	)

A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and the income tax expense is as follows:

	2014			2013
Federal income tax provision at statutory rate of 35%	$	1,717		$	3,922
Dividends-received deduction		(115	)		(149	)
Small life insurance company deduction		(600	)		(586	)
Other		53			50
Change in asset valuation allowance due to change in judgment relating to realizability of deferred tax assets		(651	)		(3,059	)
Adjustment for prior years’ estimates to actual		70			6
Income tax expense	$	474		$	184

The primary differences between the effective tax rate and the federal statutory income tax rate resulted from the dividends-received deduction (“DRD”), the small life insurance company deduction (“SLD”) and the change in deferred tax asset valuation allowance. The current estimated DRD is adjusted as underlying factors change and can vary from estimates based on, but not limited to, actual distributions from investments as well as the amount of the Company’s taxable income. The SLD varies in amount and is determined at a rate of 60 percent of the tentative life insurance company taxable income (“LICTI”). The SLD for any taxable year is reduced (but not below zero) by 15 percent of the tentative LICTI for such taxable year as it exceeds $3,000 and is ultimately phased out at $15,000. The change in deferred tax asset valuation allowance was due to the unanticipated utilization of certain capital loss carryforward benefits that had been previously reserved.

Deferred tax liabilities and assets at December 31, 2014 and 2013 were comprised of the following:

	2014			2013
Deferred tax liabilities:
Deferred acquisition costs	$	(2,832	)	$	(3,766	)
Deferred and uncollected premiums		(704	)		(734	)
Net unrealized investment gains		(4,997	)		(3,341	)
Other		(37	)		(8	)
Total deferred tax liabilities		(8,570	)		(7,849	)
Deferred tax assets:
Net operating loss carryforwards		20			844
Insurance reserves		4,676			5,109
Capital loss carryforwards		—			2,177
Impaired assets		1,474			1,406
Alternative minimum tax credit		239			309
Bad debts and other		766			576
Total deferred tax assets		7,175			10,421
Asset valuation allowance		—			(2,209	)
Net deferred tax asset (liability)	$	(1,395	)	$	363

The components of income tax expense were:

	2014			2013
Current - Federal	$	372		$	513
Deferred - Federal		753			2,730
Change in deferred tax asset valuation allowance		(651	)		(3,059	)
Total	$	474		$	184

As of December 31, 2014, the Company had regular federal net operating loss carryforwards (“NOLs”) of approximately $58 expiring in 2032. Currently, the Company believes that deferred income tax benefits relating to the NOLs will be realized. However, expected realization of the NOLs is assessed periodically based on the Company’s then current and anticipated results of operations, and amounts could increase or decrease if estimates of future taxable income change.

At December 31, 2013, a valuation allowance of $2,209 was established against deferred income tax benefits relating primarily to capital loss carryforwards that may not be realized. During 2014, the valuation allowance was decreased to zero. The decrease was primarily due to the write off of certain expired capital loss carryforward benefits that had been previously reserved for through an existing valuation allowance.

The Company has formal tax-sharing agreements, and files a consolidated income tax return, with its subsidiaries.

Junior Subordinated Debentures [Abstract]

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Junior Subordinated Debentures

12 Months Ended

Dec. 31, 2014

Junior Subordinated Debentures

Note 6. Junior Subordinated Debentures

The Company has two unconsolidated Connecticut statutory business trusts, which exist for the exclusive purposes of: (i) issuing trust preferred securities (“Trust Preferred Securities”) representing undivided beneficial interests in the assets of the trusts; (ii) investing the gross proceeds of the Trust Preferred Securities in junior subordinated deferrable interest debentures (“Junior Subordinated Debentures”) of Atlantic American; and (iii) engaging in only those activities necessary or incidental thereto.

The financial structure of each of Atlantic American Statutory Trust I and II, as of December 31, 2014 and 2013, was as follows:

	Atlantic American Statutory Trust I		Atlantic American Statutory Trust II
JUNIOR SUBORDINATED DEBENTURES⁽¹⁾⁽²⁾
Principal amount owed	$	18,042	$	23,196
Balance December 31, 2014	$	18,042	$	23,196
Less: Treasury debt⁽³⁾		—		(7,500	)
Net balance December 31, 2014	$	18,042	$	15,696
Net balance December 31, 2013	$	18,042	$	23,196
Coupon rate	LIBOR + 4.00%		LIBOR + 4.10%
Interest payable	Quarterly		Quarterly
Maturity date	December 4, 2032		May 15, 2033
Redeemable by issuer	Yes		Yes
TRUST PREFERRED SECURITIES
Issuance date	December 4, 2002		May 15, 2003
Securities issued	17,500		22,500
Liquidation preference per security	$	1	$	1
Liquidation value	17,500		22,500
Coupon rate	LIBOR + 4.00%		LIBOR + 4.10%
Distribution payable	Quarterly		Quarterly
Distribution guaranteed by⁽⁴⁾	Atlantic		Atlantic
	American		American
	Corporation		Corporation

⁽¹⁾

For each of the respective debentures, the Company has the right at any time, and from time to time, to defer payments of interest on the Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters up to the debentures’ respective maturity dates. During any such period, interest will continue to accrue and the Company may not declare or pay any cash dividends or distributions on, or purchase, the Company’s common stock nor make any principal, interest or premium payments on or repurchase any debt securities that rank equally with or junior to the Junior Subordinated Debentures. The Company has the right at any time to dissolve each of the trusts and cause the Junior Subordinated Debentures to be distributed to the holders of the Trust Preferred Securities.

⁽²⁾

The Junior Subordinated Debentures are unsecured and rank junior and subordinate in right of payment to all senior debt of the Parent and are effectively subordinated to all existing and future liabilities of its subsidiaries.

⁽³⁾

On August 4, 2014, the Company acquired $7,500 of the Junior Subordinated Debentures. Consideration tendered, upon settlement, was $6,750 plus accrued interest resulting in a gain of $750 recognized in other income on the accompanying consolidated statements of operations in 2014.

⁽⁴⁾

The Parent has guaranteed, on a subordinated basis, all of the obligations under the Trust Preferred Securities, including payment of the redemption price and any accumulated and unpaid distributions to the extent of available funds and upon dissolution, winding up or liquidation.

Commitments and Contingencies [Abstract]

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies

Note 7. Commitments and Contingencies

Litigation

From time to time, the Company is, and expects to continue to be, involved in various claims and lawsuits incidental to and in the ordinary course of its business. In the opinion of management, any such known claims are not expected to have a material effect on the financial condition or results of operations of the Company.

Operating Lease Commitments

The Company’s rental expense, including common area charges, for operating leases was $1,229 and $1,215 in 2014 and 2013, respectively. The Company’s future minimum base lease obligations under non-cancelable operating leases are as follows:

Year Ending December 31,
2015	$	896
2016		435
2017		446
2018		457
2019		193
Thereafter		—
Total	$	2,427

Earnings Per Common Share [Abstract]

The entire disclosure for commitments and contingencies.

+ References+ Details

Benefit Plans

12 Months Ended

Dec. 31, 2014

Benefit Plans [Abstract]

Benefit Plans

Note 8. Benefit Plans

Equity Incentive Plan

On May 1, 2012, the Company’s shareholders approved the 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan authorizes the grant of up to 2,000,000 stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares, performance units and other awards for the purpose of providing the Company’s non-employee directors, consultants, officers and other employees incentives and rewards for superior performance. In 2014, a total of 148,500 restricted shares, with an estimated fair value of $559, were issued to officers under the 2012 Plan. In 2013, a total of 200,000 restricted shares, with an estimated fair value of $704, were issued to officers and directors under the 2012 Plan. The estimated fair value of the restricted shares issued under the 2012 Plan for 2014 and 2013 was based on the common stock price at date of grant.

A summary of the status of the Company’s stock options at December 31, 2014 and 2013 is as follows:

	2014				2013
Options	Shares		Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Options outstanding, beginning of year		—	$	—		77,000		$	1.59
Options exercised		—		—		(62,500	)		1.59
Options canceled or expired		—		—		(14,500	)		1.59
Options outstanding, end of year		—		—		—			—
Options available for future grant		1,651,500				1,800,000

401(k) Plan

The Company initiated an employees’ savings plan (the “Plan”) qualified under Section 401(k) of the Internal Revenue Code in May 1995. The Plan covers substantially all of the Company’s employees. Effective January 1, 2009, the Company modified the Plan such that the Plan would operate on a safe harbor basis. Under the Plan, employees may defer up to 50% of their compensation, not to exceed the annual deferral limit. The Company’s total matching contribution for 2014 and 2013 was $186 and $173, respectively, and consisted of a contribution equal to 50% of up to the first 4% of each participant’s contributions. In addition to the matching contribution, the Company also provided a 3% safe harbor non-elective contribution in 2014 and 2013 of $391 and $369, respectively. The employer match and safe harbor contribution were made in cash.

Agent Stock Purchase Plan

The Company initiated a nonqualified stock purchase plan (the “Agent Stock Purchase Plan”) in May 2012. The purpose of the Agent Stock Purchase Plan is to promote and advance the interests of the Company and its stockholders by providing independent agents who qualify as participants with an opportunity to purchase the common stock of the Company. Under the Agent Stock Purchase Plan, payment for shares of common stock of the Company is made by either deduction from an agent’s commission payment or a direct cash payment. Stock purchases are made at the end of each calendar quarter at the then current market value.

Preferred Stock	12 Months Ended
Preferred Stock	Dec. 31, 2014
Preferred Stock [Abstract]
Preferred Stock	Note 9. Preferred Stock The Company had 55,000 and 65,000 shares of Series D preferred stock (“Series D Preferred Stock”) outstanding at December 31, 2014 and 2013, respectively. All of the shares of Series D Preferred Stock are held by an affiliate of the Company’s controlling shareholder. The outstanding shares of Series D Preferred Stock have a stated value of $100 per share; accrue annual dividends at a rate of $7.25 per share (payable in cash or shares of the Company’s common stock at the option of the board of directors of the Company) and are cumulative. In certain circumstances, the shares of the Series D Preferred Stock may be convertible into an aggregate of approximately 1,378,000 shares of the Company’s common stock, subject to certain adjustments and provided that such adjustments do not result in the Company issuing more than approximately 2,703,000 shares of common stock without obtaining prior shareholder approval; and are redeemable solely at the Company’s option. The Series D Preferred Stock is not currently convertible. The Company redeemed 10,000 shares of the Series D Preferred Stock in 2014 and 5,000 shares of the Series D Preferred Stock in 2013 at the stated value of $100 per share, for aggregate payments of $1,000 and $500, respectively. As of December 31, 2014 and 2013, the Company had accrued, but unpaid, dividends, on the Series D Preferred Stock of $18 and $21, respectively. During 2014 and 2013, the Company paid Series D Preferred Stock dividends of $471 and 483, respectively.

Earnings Per Common Share

12 Months Ended

Dec. 31, 2014

Earnings Per Common Share

Note 10. Earnings Per Common Share

A reconciliation of the numerator and denominator of the earnings per common share calculations is as follows:

	For the Year Ended December 31, 2014
	Income			Shares (In thousands)		Per Share Amount
Basic and Diluted Earnings Per Common Share
Net income before preferred stock dividends	$	4,430			20,818
Less preferred stock dividends		(468	)		—
Net income applicable to common shareholders	$	3,962			20,818	$	.19

	For the Year Ended December 31, 2013
	Income			Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share
Net income before preferred stock dividends	$	11,022			21,236
Less preferred stock dividends		(482	)		—
Net income applicable to common shareholders		10,540			21,236	$	.50
Diluted Earnings Per Common Share
Effect of dilutive stock options		—			10
Effect of Series D Preferred Stock		482			1,629
Net income applicable to common shareholders	$	11,022			22,875	$	.48

The assumed conversion of the Company’s Series D Preferred Stock was excluded from the earnings per common share calculation for 2014 since its impact would have been antidilutive.

The entire disclosure for earnings per share.

+ References+ Details

Statutory Reporting

12 Months Ended

Dec. 31, 2014

Statutory Reporting [Abstract]

Statutory Reporting

Note 11. Statutory Reporting

The assets, liabilities and results of operations have been reported on the basis of GAAP, which varies in some respects from statutory accounting practices (“SAP”) prescribed or permitted by insurance regulatory authorities. The principal differences between SAP and GAAP are that under SAP: (i) certain assets that are non-admitted assets are eliminated from the balance sheet; (ii) acquisition costs for policies are expensed as incurred, while they are deferred and amortized over the estimated life of the policies under GAAP; (iii) the provision that is made for deferred income taxes is different than under GAAP; (iv) the timing of establishing certain reserves is different than under GAAP; and (v) certain valuation allowances attributable to certain investments are different.

The amount of reported statutory net income and surplus (shareholders’ equity) for the Parent’s insurance subsidiaries for the years ended December 31 was as follows:

	2014		2013
Life and Health, net income	$	2,738	$	3,013
Property and Casualty, net income		4,813		6,224
Statutory net income	$	7,551	$	9,237

Life and Health, surplus	$	34,004	$	34,530
Property and Casualty, surplus		39,012		39,092
Statutory surplus	$	73,016	$	73,622

Under the insurance code of the state in which each insurance subsidiary is domiciled, dividend payments to the Parent by its insurance subsidiaries are subject to certain limitations without the prior approval of the applicable state’s Insurance Commissioner. The Parent received dividends of $6,468 and $6,646 in 2014 and 2013, respectively, from its subsidiaries. In 2015, dividend payments to the Parent by the insurance subsidiaries in excess of $7,640 would require prior approval.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Note 12. Related Party Transactions In the normal course of business the Company has engaged in transactions with entities affiliated with the controlling shareholder of the Company. These transactions include the leasing of office space as well as certain investing and financing activities. At December 31, 2014, two members of the Company’s board of directors, including our chairman, president and chief executive officer, were considered to be affiliates of the majority shareholder, who is also a member of the Company’s board of directors. The Company leases approximately 49,586 square feet of office and covered garage space from one such controlled entity. During the years ended December 31, 2014 and 2013, the Company paid $852 and $864, respectively, under this lease. Certain financing for the Company has also been provided by this entity in the form of an investment in the Series D Preferred Stock (See Note 9). During the years ended December 31, 2014 and 2013, the Company paid this entity $471 and $483, respectively, in dividends on the Series D Preferred Stock. During the years ended December 31, 2014 and 2013, the Company redeemed $1,000 and $500, respectively, of the Series D Preferred Stock. Certain members of the Company’s management and board of directors are shareholders and on the board of directors of Gray Television, Inc. (“Gray”). As of December 31, 2014 and 2013, the Company owned 880,272 shares of Gray Class A common stock and 106,000 shares of Gray common stock. The aggregate carrying value of these investments in Gray at December 31, 2014 and 2013 was $9,242 and $12,942, respectively.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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Segment Information

12 Months Ended

Dec. 31, 2014

Segment Information [Abstract]

Segment Information

Note 13. Segment Information

The Parent’s primary insurance subsidiaries operate with relative autonomy and each company is evaluated based on its individual performance. American Southern operates in the property and casualty insurance market, while Bankers Fidelity operates in the life and health insurance market. Each segment derives revenue from the collection of premiums, as well as from investment income. Substantially all revenue other than that in the corporate and other segment is from external sources.

	2014
	American Southern			Bankers Fidelity			Corporate & Other			Adjustments & Eliminations			Consolidated
Insurance premiums	$	52,654		$	100,834		$	—		$	—		$	153,488
Insurance benefits and losses incurred		38,179			68,016			—			—			106,195
Expenses deferred		(7,845	)		(2,305	)		—			—			(10,150	)
Amortization and depreciation expense		8,646			2,457			507			—			11,610
Other expenses		13,644			33,725			15,601			(9,208	)		53,762
Total expenses		52,624			101,893			16,108			(9,208	)		161,417
Underwriting income (loss)		30			(1,059	)
Investment income		4,447			5,507			2,152			(1,739	)		10,367
Other income		8			11			7,595			(7,469	)		145
Operating income (loss)		4,485			4,459			(6,361	)		—			2,583
Net realized gains		527			694			350			—			1,571
Gain on purchase of debt securities (Note 6)		—			—			750			—			750
Income (loss) before income taxes	$	5,012		$	5,153		$	(5,261	)	$	—		$	4,904
Total revenues	$	57,636		$	107,046		$	10,847		$	(9,208	)	$	166,321
Intangibles	$	1,350		$	1,194		$	—		$	—		$	2,544
Total assets	$	129,517		$	161,729		$	139,271		$	(113,509	)	$	317,008

	2013
	American Southern			Bankers Fidelity			Corporate & Other			Adjustments & Eliminations			Consolidated
Insurance premiums	$	45,851		$	99,779		$	—		$	—		$	145,630
Insurance benefits and losses incurred		30,197			70,175			—			—			100,372
Expenses deferred		(7,106	)		(3,230	)		—			—			(10,336	)
Amortization and depreciation expense		7,440			2,120			—			—			9,560
Other expenses		15,777			31,742			15,076			(8,028	)		54,567
Total expenses		46,308			100,807			15,076			(8,028	)		154,163
Underwriting loss		(457	)		(1,028	)
Investment income		4,308			5,920			2,338			(1,757	)		10,809
Other income		12			40			6,408			(6,271	)		189
Operating income (loss)		3,863			4,932			(6,330	)		—			2,465
Net realized gains		3,767			4,330			644			—			8,741
Income (loss) before income taxes	$	7,630		$	9,262		$	(5,686	)	$	—		$	11,206
Total revenues	$	53,938		$	110,069		$	9,390		$	(8,028	)	$	165,369
Intangibles	$	1,350		$	1,194		$	—		$	—		$	2,544
Total assets	$	126,861		$	156,484		$	141,304		$	(105,268	)	$	319,381

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Disclosures About Fair Value of Financial Instruments [Abstract]

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+ Details

Disclosures About Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2014

Disclosures About Fair Value of Financial Instruments

Note 14. Disclosures About Fair Value of Financial Instruments

The estimated fair values have been determined by the Company using available market information from various market sources and appropriate valuation methodologies as of the respective dates. However, considerable judgment is necessary to interpret market data and to develop the estimates of fair value. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, the estimates presented herein are not necessarily indicative of the amounts which the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

		2014				2013
	Level in Fair Value Hierarchy⁽¹⁾	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets:
Cash and cash equivalents	Level 1	$	16,375	$	16,375	$	33,102	$	33,102
Fixed maturities	⁽¹⁾		214,888		214,888		201,303		201,303
Equity securities	⁽¹⁾		18,924		18,924		21,890		21,890
Other invested assets	Level 3		2,995		2,995		2,123		2,123
Policy loans	Level 2		2,202		2,202		2,369		2,369
Real estate	Level 2		38		38		38		38
Investments in unconsolidated trusts	Level 2		1,238		1,238		1,238		1,238

Liabilities:
Junior Subordinated Debentures, net	Level 2		33,738		33,738		41,238		41,238

⁽¹⁾

See Note 2 for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.

The following describes the methods and assumptions used by the Company in estimating fair values:

Cash and Cash Equivalents

The carrying amount approximates fair value due to the short-term nature of the instruments.

Fixed Maturities and Common and Non-Redeemable Preferred Stocks

The carrying amount is determined in accordance with methods prescribed by the NAIC, which do not differ materially from publicly quoted market prices. Certain fixed maturities do not have publicly quoted values and consist solely of issuances of pooled debt obligations of multiple, smaller financial services companies. They are not actively traded and valuation techniques used to measure fair value are based on future estimated cash flows discounted at a reasonably estimated rate of interest. Other qualitative and quantitative information received from the original underwriter of the pooled offerings is also considered, as applicable.

Non-publicly Traded Invested Assets

The fair value of investments in certain limited partnerships which are included in other invested assets on the consolidated balance sheet were determined by officers of those limited partnerships.

Junior Subordinated Debentures

The fair value is estimated based on the quoted market prices for similar issues and the current rates offered for debt having similar returns and remaining maturities.

Accumulated Other Comprehensive Income [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2014

Accumulated Other Comprehensive Income

Note 15. Accumulated Other Comprehensive Income

The following table sets forth the balance of each component of accumulated other comprehensive income as of December 31, 2014 and 2013, and the changes in the balance of each component thereof during 2014.

	Unrealized Gains on Available- for-Sale Securities
Balance, December 31, 2013	$	6,204
Other comprehensive income before reclassifications		4,096
Amounts reclassified from accumulated other comprehensive income		(1,021	)
Net current-period other comprehensive income		3,075
Balance, December 31, 2014	$	9,279

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

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+ Details

Acquisitions

12 Months Ended

Dec. 31, 2014

Acquisitions [Abstract]

Acquisitions

Note 16. Acquisitions

On December 18, 2013, the Company acquired 100% of the outstanding stock of Direct Life Insurance Company (“DLIC”) for $3,857 and changed the name of the company to Bankers Fidelity Assurance Company. The acquisition will allow Bankers Fidelity to offer additional similar products to those it already writes permitting greater diversification of product and pricing as well as opportunity for future expansion in other states. The purchase was not significant to the financial position or results of operations of the Company in 2013 and DLIC had no significant recent operations prior to acquisition. In connection with the acquisition the following assets and liabilities were acquired:

	2013
Cash and cash equivalents	$	1,317
Investments		2,123
Receivables		7
Intangibles		416
Total assets	$	3,863

Accounts payable and accrued expenses	$	6
Total liabilities	$	6

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

Schedule II CONDENSED FINANCIAL INFORMATION OF REGISTRANT [Abstract]

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Schedule II CONDENSED FINANCIAL INFORMATION OF REGISTRANT

12 Months Ended

Dec. 31, 2014

Schedule II CONDENSED FINANCIAL INFORMATION OF REGISTRANT

Schedule II
Page 1 of 3

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

ATLANTIC AMERICAN CORPORATION
(Parent Company Only)

BALANCE SHEETS

ASSETS

	December 31,
	2014		2013
	(In thousands)
Cash and cash equivalents	$	5,947	$	13,936
Investments		13,766		18,043
Investment in subsidiaries		113,509		105,268
Investments in unconsolidated trusts		1,238		1,238
Income taxes receivable from subsidiaries		2,271		4,530
Other assets		5,113		2,676
Total assets	$	141,844	$	145,691

LIABILITIES AND SHAREHOLDERS’ EQUITY

Deferred tax liability, net	$	2,055	$	297
Other payables		1,856		3,229
Junior subordinated debentures		33,738		41,238

Total liabilities		37,649		44,764

Shareholders’ equity		104,195		100,927
Total liabilities and shareholders’ equity	$	141,844	$	145,691

See accompanying report of independent registered public accounting firm.

Schedule II
Page 2 of 3

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

ATLANTIC AMERICAN CORPORATION
(Parent Company Only)

STATEMENTS OF OPERATIONS

	Year Ended December 31,
	2014			2013
	(In thousands)
REVENUE
Fee income from subsidiaries	$	7,469		$	6,271
Distributed earnings from subsidiaries		6,468			6,646
Other		1,622			1,330
Total revenue		15,559			14,247

GENERAL AND ADMINISTRATIVE EXPENSES		12,478			11,106

INTEREST EXPENSE		1,607			1,898
		1,474			1,243
INCOME TAX BENEFIT⁽¹⁾		(2,040	)		(4,504	)
		3,514			5,747
EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES, NET		916			5,275
NET INCOME	$	4,430		$	11,022

⁽¹⁾

Under the terms of a tax-sharing agreement, income tax provisions for the subsidiary companies are computed on a separate company basis. Accordingly, the Company’s income tax benefit results from the utilization of the Parent’s separate return loss to reduce the consolidated taxable income of the Company.

See accompanying report of independent registered public accounting firm.

Schedule II
Page 3 of 3

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

ATLANTIC AMERICAN CORPORATION
(Parent Company Only)

STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2014			2013
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	4,430		$	11,022
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment gains, net		(350	)		(644	)
Gain on purchase of debt securities (Note 6)		(750	)		—
Depreciation and amortization		507			117
Compensation expense related to share awards		584			219
Equity in undistributed earnings of consolidated subsidiaries		(916	)		(5,275	)
Decrease (increase) in intercompany taxes		2,259			(2,541	)
Deferred income tax expense (benefit)		102			(329	)
(Decrease) increase in other liabilities		(164	)		846
Other, net		4			161
Net cash provided by operating activities		5,706			3,576

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from investments sold, called or matured		2,106			5,568
Investments purchased		—			(4,438	)
Capital contribution to subsidiaries		(100	)		(200	)
Additions to property and equipment		(4,127	)		(1,192	)
Net cash used in investing activities		(2,121	)		(262	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Payment for debt securities (Note 6)		(6,750	)		—
Redemption of Series D preferred stock		(1,000	)		(500	)
Payment of dividends on Series D preferred stock		(471	)		(483	)
Payment of dividends on common stock		(834	)		(423	)
Proceeds from shares issued under stock plans		84			138
Purchase of shares for treasury		(2,603	)		(1,416	)
Net cash used in financing activities		(11,574	)		(2,684	)

Net (decrease) increase in cash		(7,989	)		630
Cash and cash equivalents at beginning of year		13,936			13,306
Cash and cash equivalents at end of year	$	5,947		$	13,936

Supplemental disclosure:
Cash paid for interest	$	1,649		$	1,961
Cash paid for income taxes	$	445		$	536
Intercompany tax settlement from subsidiaries	$	4,695		$	2,574

See accompanying report of independent registered public accounting firm.

Schedule III SUPPLEMENTARY INSURANCE INFORMATION [Abstract]

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References+ Details

Schedule III SUPPLEMENTARY INSURANCE INFORMATION

12 Months Ended

Dec. 31, 2014

Schedule III SUPPLEMENTARY INSURANCE INFORMATION

Schedule III
Page 1 of 2

ATLANTIC AMERICAN CORPORATION AND SUBSIDIARIES
SUPPLEMENTARY INSURANCE INFORMATION

Segment	Deferred Acquisition Costs		Future Policy Benefits, Losses, Claims and Loss Reserves			Unearned Premiums		Other Policy Claims and Benefits Payable
	(In thousands)
December 31, 2014:
Bankers Fidelity	$	24,360	$	82,453		$	3,884	$	2,080
American Southern		2,621		55,017			20,660		—
	$	26,981	$	137,470	⁽¹⁾	$	24,544	$	2,080

December 31, 2013:
Bankers Fidelity	$	24,275	$	81,682		$	4,419	$	2,076
American Southern		3,234		51,200			22,996		—
	$	27,509	$	132,882	⁽²⁾	$	27,415	$	2,076

⁽¹⁾

Includes future policy benefits of $70,845 and losses and claims of $66,625.

⁽²⁾

Includes future policy benefits of $69,864 and losses and claims of $63,018.

See accompanying report of independent registered public accounting firm.

Schedule III
Page 2 of 2

ATLANTIC AMERICAN CORPORATION AND SUBSIDIARIES
SUPPLEMENTARY INSURANCE INFORMATION

Segment	Premium Revenue		Net Investment Income		Benefits, Claims, Losses and Settlement Expenses		Amortization of Deferred Acquisition Costs		Other Operating Expenses		Casualty Premiums Written
	(In thousands)
December 31, 2014:
Bankers Fidelity	$	100,834	$	4,989	$	68,016	$	2,220	$	31,657	$	—
American Southern		52,654		4,429		38,179		8,458		5,987		50,318
Other		—		413		—		—		6,900		—
	$	153,488	$	9,831	$	106,195	$	10,678	$	44,544	$	50,318

December 31, 2013:
Bankers Fidelity	$	99,779	$	5,466	$	70,175	$	1,820	$	28,812	$	—
American Southern		45,851		4,288		30,197		7,140		8,971		50,774
Other		—		581		—		—		7,048		—
	$	145,630	$	10,335	$	100,372	$	8,960	$	44,831	$	50,774

See accompanying report of independent registered public accounting firm.

Schedule VI SUPPLEMENTAL INFORMATION CONCERNING PROPERTY-CASUALTY INSURANCE OPERATIONS [Abstract]

The entire disclosure for required supplementary insurance information giving segment detail in support of various balance sheet and income statement captions. The balance sheet information generally is presented as of the date of each audited balance sheet filed, and the income statement information generally is presented for each period for which an audited income statement is required to be filed. Supplementary insurance information table includes segment name; deferred policy acquisition costs; future policy benefits, losses, claims and loss expenses; unearned premiums; other policy claims and benefits payable; premium revenue; net investment income; benefits, claims, losses and settlement expenses; amortization of deferred policy acquisition costs; other operating expenses; and premiums written.

+ References+ Details

Schedule IV REINSURANCE

12 Months Ended

Dec. 31, 2014

Schedule IV REINSURANCE [Abstract]

Schedule IV REINSURANCE

Schedule IV

ATLANTIC AMERICAN CORPORATION AND SUBSIDIARIES
REINSURANCE

	Direct Amount		Ceded To Other Companies			Assumed From Other Companies		Net Amounts		Percentage of Amount Assumed To Net
	(Dollars in thousands)
Year ended December 31, 2014:
Life insurance in force	$	257,988	$	(18,984	)	$	—	$	239,004

Premiums --
Bankers Fidelity	$	100,799	$	(43	)	$	78	$	100,834		0.1	%
American Southern		40,413		(5,847	)		18,088		52,654		34.4	%
Total premiums	$	141,212	$	(5,890	)	$	18,166	$	153,488		11.8	%

Year ended December 31, 2013:
Life insurance in force	$	259,723	$	(18,525	)	$	—	$	241,198

Premiums --
Bankers Fidelity	$	99,745	$	(54	)	$	88	$	99,779		0.1	%
American Southern		41,975		(7,553	)		11,429		45,851		24.9	%
Total premiums	$	141,720	$	(7,607	)	$	11,517	$	145,630		7.9	%

See accompanying report of independent registered public accounting firm.

Schedule VI SUPPLEMENTAL INFORMATION CONCERNING PROPERTY-CASUALTY INSURANCE OPERATIONS

12 Months Ended

Dec. 31, 2014

Schedule VI SUPPLEMENTAL INFORMATION CONCERNING PROPERTY-CASUALTY INSURANCE OPERATIONS

Schedule VI

ATLANTIC AMERICAN CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION CONCERNING
PROPERTY-CASUALTY INSURANCE OPERATIONS

	Deferred Policy Acquisition Costs		Reserves		Unearned Premiums		Earned Premiums		Net Investment Income		Claims and Claim Adjustment Expenses Incurred Related To					Amortization of Deferred Acquisition Costs		Paid Claims and Claim Adjustment Expenses		Premiums Written
Year Ended	Deferred Policy Acquisition Costs		Reserves		Unearned Premiums		Earned Premiums		Net Investment Income		Current Year		Prior Years			Amortization of Deferred Acquisition Costs		Paid Claims and Claim Adjustment Expenses		Premiums Written
	(In thousands)
December 31, 2014	$	2,621	$	55,017	$	20,660	$	52,654	$	4,429	$	38,337	$	(158	)	$	8,458	$	34,336	$	50,318

December 31, 2013	$	3,234	$	51,200	$	22,996	$	45,851	$	4,288	$	32,672	$	(2,475	)	$	7,140	$	27,339	$	50,774

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) which, for insurance companies, differ in some respects from the statutory accounting practices prescribed or permitted by regulatory authorities. These financial statements include the accounts of Atlantic American Corporation (“Atlantic American” or the “Parent”) and its subsidiaries (collectively with the Parent, the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. Operating results achieved in any historical period are not necessarily indicative of results to be expected in any future period. At December 31, 2014, the Parent owned four insurance subsidiaries, Bankers Fidelity Life Insurance Company and its wholly-owned subsidiary, Bankers Fidelity Assurance Company (“BFAC”) (together known as “Bankers Fidelity”), and American Southern Insurance Company and its wholly-owned subsidiary, American Safety Insurance Company (together known as “American Southern”), in addition to one non-insurance subsidiary, xCalibre Risk Services, Inc. BFAC was acquired on December 18, 2013. The results of operations of BFAC are included from the date of acquisition. The Parent has issued a guarantee of all liabilities of Bankers Fidelity.
Premium Revenue and Cost Recognition	Premium Revenue and Cost Recognition Life insurance premiums are recognized as revenue when due; accident and health insurance premiums are recognized as revenue over the premium paying period and property and casualty insurance premiums are recognized as revenue over the period of the contract in proportion to the amount of insurance protection provided. Benefits and expenses are accrued as incurred and are associated with premiums as they are earned so as to result in recognition of profits over the lives of the contracts. For traditional life insurance and long-duration health insurance, this association is accomplished by the provision of a future policy benefits reserve and the deferral and subsequent amortization of the costs of acquiring business, “deferred policy acquisition costs” (principally commissions, premium taxes, and other incremental direct costs of issuing policies). Deferred policy acquisition costs are amortized over the estimated premium-paying period of the related policies using assumptions consistent with those used in computing the policy benefits reserve. The Company provides for insurance benefits and losses on accident, health, and property-casualty claims based upon estimates of projected ultimate losses. Deferred policy acquisition costs for property and casualty insurance and short-duration health insurance are amortized over the effective period of the related insurance policies. Contingent commissions, if contractually applicable, are ultimately payable to agents based on the underlying profitability of a particular insurance contract or a group of insurance contracts, and are periodically evaluated and accrued as earned. In periods in which revisions are made to the estimated loss reserves related to the particular insurance contract or group of insurance contracts subject to such commissions, corresponding adjustments are also made to the related accruals. Deferred policy acquisition costs are expensed when such costs are deemed not to be recoverable from future premiums (for traditional life and long-duration health insurance) and from the related unearned premiums and investment income (for property and casualty and short-duration health insurance).
Intangibles	Intangibles Intangibles consist of goodwill and other indefinite-lived intangibles. Goodwill represents the excess of cost over the fair value of net assets acquired and is not amortized. Other indefinite-lived intangibles represent the value of licenses acquired in the 2013 acquisition of BFAC (Note 16) and are not amortized. The Company periodically reviews its goodwill and other indefinite-lived intangibles to determine if any adverse conditions exist that could indicate impairment. Conditions that could trigger impairment include, but are not limited to, a significant change in business climate that could affect the value of the related asset, an adverse action, or an assessment by a regulator. No impairment of the Company’s recorded intangibles was identified during the periods presented.
Investments	Investments The Company’s investments in both fixed maturities, which include bonds and redeemable preferred stocks, and equity securities, which include common and non-redeemable preferred stocks, are classified as “available-for-sale” and, accordingly, are carried at fair value with the after-tax difference from amortized cost, as adjusted if applicable, reflected in shareholders’ equity as a component of accumulated other comprehensive income or loss. The fair values for fixed maturities and equity securities are largely determined by either independent methods prescribed by the National Association of Insurance Commissioners (“NAIC”), which do not differ materially from publicly quoted market prices, when available, or independent broker quotations. The Company owns certain fixed maturities that do not have publicly quoted market values, but had an estimated fair value as determined by management of $2,214 at December 31, 2014. Such values inherently involve a greater degree of judgment and uncertainty and therefore ultimately greater price volatility than the value of securities with publicly quoted market values. Policy loans and real estate are carried at historical cost. Other invested assets are comprised of investments in limited partnerships, limited liability companies, and real estate joint ventures, and are accounted for using the equity method. If the value of a common stock, preferred stock, other invested asset, or publicly traded bond declines below its cost or amortized cost, if applicable, and the decline is considered to be other than temporary, a realized loss is recorded to reduce the carrying value of the investment to its estimated fair value, which becomes the new cost basis. The evaluation for an other than temporary impairment is a quantitative and qualitative process, which is subject to risks and uncertainties in the determination of whether declines in the fair value of investments are other than temporary. Potential risks and uncertainties include, among other things, changes in general economic conditions, an issuer’s financial condition or near term recovery prospects and the effects of changes in interest rates. In evaluating a potential impairment, the Company considers, among other factors, management’s intent and ability to hold the securities until price recovery, the nature of the investment and the expectation of prospects for the issuer and its industry, the status of an issuer’s continued satisfaction of its obligations in accordance with their contractual terms, and management’s expectation as to the issuer’s ability and intent to continue to do so, as well as ratings actions that may affect the issuer’s credit status. Premiums and discounts related to investments are amortized or accreted over the life of the related investment as an adjustment to yield using the effective interest method. Dividends and interest income are recognized when earned or declared. The cost of securities sold is based on specific identification. Unrealized gains (losses) in the value of invested assets are accounted for as a direct increase (decrease) in accumulated other comprehensive income in shareholders’ equity, net of deferred tax and, accordingly, have no effect on net income.
Income Taxes	Income Taxes Deferred income taxes represent the expected future tax consequences when the reported amounts of assets and liabilities are recovered or paid. They arise from differences between the financial reporting and tax basis of assets and liabilities and are adjusted for changes in tax laws and tax rates as those changes are enacted. The provision for income taxes represents the total amount of income taxes due related to the current year, plus the change in deferred income taxes during the year. A valuation allowance is recognized if, based on management’s assessment of the relevant facts, it is more likely than not that some portion of a deferred tax asset will not be realized.
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share are based on the weighted average number of common shares outstanding during the relevant period. Diluted earnings per common share are based on the weighted average number of common shares outstanding during the relevant period, plus options and share awards outstanding using the treasury stock method and the assumed conversion of the Series D preferred stock, if dilutive. Unless otherwise indicated, earnings per common share amounts are presented on a diluted basis.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and investments in short-term, highly liquid securities with original maturities of three months or less from date of purchase.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”). The main objective of ASU 2015-01 is to identify, evaluate, and improve areas of GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. ASU 2015-01 eliminates from GAAP the concept of extraordinary items. Presently, if an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. Although the amendments in ASU 2015-01 will eliminate requirements for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company adopted ASU 2015-01 effective January 1, 2014. Since ASU 2015-01 was a disclosure only update, its adoption did not have a material impact on the Company’s financial condition or results of operations.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Significant estimates and assumptions are used in developing and evaluating deferred income taxes, deferred acquisition costs, insurance reserves, investments, and commitments and contingencies, among others, and actual results could differ materially from management’s estimates.

Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investments [Abstract ]

Schedule of investments aggregated by type and industry

Investments were comprised of the following:

	2014
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	33,898	$	1,459	$	30	$	32,469
Obligations of states and political subdivisions		11,459		681		—		10,778
Corporate securities:
Utilities and telecom		13,980		2,355		—		11,625
Financial services		59,224		3,404		588		56,408
Other business – diversified		70,139		2,076		1,830		69,893
Other consumer – diversified		25,388		332		547		25,603
Total corporate securities		168,731		8,167		2,965		163,529
Redeemable preferred stocks:
Financial services		608		8		—		600
Other consumer – diversified		192		—		—		192
Total redeemable preferred stocks		800		8		—		792
Total fixed maturities		214,888		10,315		2,995		207,568
Equity securities:
Common and non-redeemable preferred stocks:
Utilities and telecom		1,403		439		—		964
Financial services		6,083		739		—		5,344
Other business – diversified		226		179		—		47
Other consumer – diversified		11,212		5,598		—		5,614
Total equity securities		18,924		6,955		—		11,969
Other invested assets		2,995		—		—		2,995
Policy loans		2,202		—		—		2,202
Real estate		38		—		—		38
Investments in unconsolidated trusts		1,238		—		—		1,238
Total investments	$	240,285	$	17,270	$	2,995	$	226,010

	2013
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	17,240	$	576	$	210	$	16,874
Obligations of states and political subdivisions		7,611		402		17		7,226
Corporate securities:
Utilities and telecom		16,532		1,353		7		15,186
Financial services		50,531		1,736		320		49,115
Other business – diversified		70,326		870		2,906		72,362
Other consumer – diversified		36,712		391		1,745		38,066
Total corporate securities		174,101		4,350		4,978		174,729
Redeemable preferred stocks:
Financial services		2,159		4		41		2,196
Other consumer – diversified		192		—		—		192
Total redeemable preferred stocks		2,351		4		41		2,388
Total fixed maturities		201,303		5,332		5,246		201,217
Equity securities:
Common and non-redeemable preferred stocks:
Utilities and telecom		1,474		510		—		964
Financial services		5,761		514		560		5,807
Other business – diversified		178		131		—		47
Other consumer – diversified		14,477		8,863		—		5,614
Total equity securities		21,890		10,018		560		12,432
Other invested assets		2,123		—		—		2,123
Policy loans		2,369		—		—		2,369
Real estate		38		—		—		38
Investments in unconsolidated trusts		1,238		—		—		1,238
Total investments	$	228,961	$	15,350	$	5,806	$	219,417

Schedule of investments aggregated by industry

The following table sets forth the carrying value, amortized cost, and net unrealized gains (losses) of the Company’s investments aggregated by industry as of December 31, 2014 and 2013.

	2014						2013
	Carrying Value		Amortized Cost		Unrealized Gains		Carrying Value		Amortized Cost		Unrealized Gains (Losses)
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	33,898	$	32,469	$	1,429	$	17,240	$	16,874	$	366
Obligations of states and political subdivisions		11,459		10,778		681		7,611		7,226		385
Utilities and telecom		15,383		12,589		2,794		18,006		16,150		1,856
Financial services		65,915		62,352		3,563		58,451		57,118		1,333
Other business – diversified		70,365		69,940		425		70,504		72,409		(1,905	)
Other consumer – diversified		36,792		31,409		5,383		51,381		43,872		7,509
Other investments		6,473		6,473		—		5,768		5,768		—
Investments	$	240,285	$	226,010	$	14,275	$	228,961	$	219,417	$	9,544

Schedule of investment securities with continuous unrealized loss position

	2014
	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	3,695	$	7	$	2,692	$	23	$	6,387	$	30
Corporate securities		43,996		1,604		9,293		1,361		53,289		2,965
Total temporarily impaired securities	$	47,691	$	1,611	$	11,985	$	1,384	$	59,676	$	2,995

	2013
	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	8,326	$	210	$	—	$	—	$	8,326	$	210
Obligations of states and political subdivisions		1,018		17		—		—		1,018		17
Corporate securities		92,049		3,714		6,938		1,264		98,987		4,978
Redeemable preferred stocks		704		41		—		—		704		41
Common and non-redeemable preferred stocks		3,724		560		—		—		3,724		560
Total temporarily impaired securities	$	105,821	$	4,542	$	6,938	$	1,264	$	112,759	$	5,806

Schedule of other than temporary impairments

During the years ended December 31, 2014 and 2013, the Company recorded impairments related to the following investments.

	2014			2013
Common and non-redeemable preferred stocks	$	196		$	—

Financial instruments carried at fair value measured on a recurring basis

As of December 31, 2014, financial instruments carried at fair value were measured on a recurring basis as summarized below:

Assets:	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Fixed maturities	$	—	$	212,674	$	2,214	$	214,888
Equity securities		13,148		5,776		—		18,924
Cash equivalents		15,009		—		—		15,009
Total	$	28,157	$	218,450	$	2,214	$	248,821

As of December 31, 2013, financial instruments carried at fair value were measured on a recurring basis as summarized below:

Assets:	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Fixed maturities	$	—	$	199,312	$	1,991	$	201,303
Equity securities		16,406		5,484		—		21,890
Cash equivalents		31,618		—		—		31,618
Total	$	48,024	$	204,796	$	1,991	$	254,811

Roll-forward of financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

	Fixed Maturities			Derivative (Liability)
Balance, January 1, 2013	$	2,124		$	(141	)
Total unrealized gains (losses) included in comprehensive income		(133	)		141
Balance, December 31, 2013		1,991			—
Total unrealized gains included in comprehensive income		223			—
Balance, December 31, 2014	$	2,214		$	—

Amortized cost and carrying value of fixed maturities by contractual maturity

	2014				2013
	Carrying Value		Amortized Cost		Carrying Value		Amortized Cost
Due in one year or less	$	1,000	$	1,000	$	—	$	—
Due after one year through five years		16,523		15,891		11,709		11,097
Due after five years through ten years		114,620		112,381		108,358		107,846
Due after ten years		64,990		61,704		76,882		77,884
Varying maturities		17,755		16,592		4,354		4,390
Totals	$	214,888	$	207,568	$	201,303	$	201,217

Investment income earned

Investment income was earned from the following sources:

	2014			2013
Fixed maturities	$	9,720		$	9,890
Equity securities		510			632
Other		137			287
Total investment income		10,367			10,809
Less investment expenses, included in other expenses		(536	)		(474	)
Net investment income	$	9,831		$	10,335

Summary of realized investment gains (losses)

A summary of realized investment gains (losses) follows:

	2014
	Fixed Maturities			Equity Securities			Total
Gains	$	2,449		$	—		$	2,449
Losses		(665	)		(213	)		(878	)
Realized investment gains, net	$	1,784		$	(213	)	$	1,571

	2013
	Fixed Maturities			Equity Securities			Total
Gains	$	8,521		$	293		$	8,814
Losses		(45	)		(28	)		(73	)
Realized investment gains, net	$	8,476		$	265		$	8,741

Proceeds from sales of investments

Proceeds from the sales of investments were as follows:

	2014		2013
Fixed maturities	$	75,244	$	107,728
Equity securities		—		972
Other investments		197		45
Total proceeds	$	75,441	$	108,745

Insurance Reserves and Policyholder Funds (Tables)

12 Months Ended

Dec. 31, 2014

Insurance Reserves And Policyholder Funds [Abstract]

Reserves for life, accident, health and property and casualty losses, including loss adjustment expenses

The following table presents the Company’s reserves for life, accident and health, and property and casualty losses, claims and loss adjustment expenses.

					Amount of Insurance In Force, Net
	2014		2013		2014		2013
Future policy benefits
Life insurance policies:
Ordinary	$	53,555	$	52,915	$	235,856	$	237,694
Mass market		2,475		2,715		3,148		3,504
Individual annuities		130		135		—		—
		56,160		55,765	$	239,004	$	241,198
Accident and health insurance policies		14,685		14,099
		70,845		69,864
Unearned premiums		24,544		27,415
Losses, claims and loss adjustment expenses		66,625		63,018
Other policy liabilities		2,080		2,076
Total insurance reserves and policyholder funds	$	164,094	$	162,373

Summary of activity in liabilities for unpaid loss and claim reserved

Activity in the liability for unpaid loss and claim reserves is summarized as follows:

	2014			2013
Balance at January 1	$	63,018		$	62,873
Less: Reinsurance receivable on unpaid losses		(14,314	)		(18,743	)
Net balance at January 1		48,704			44,130

Incurred related to:
Current year		104,225			97,904
Prior years		(483	)		(1,657	)
Total incurred		103,742			96,247

Paid related to:
Current year		72,443			66,705
Prior years		27,680			24,968
Total paid		100,123			91,673
Net balance at December 31		52,323			48,704
Plus: Reinsurance receivable on unpaid losses		14,302			14,314
Balance at December 31	$	66,625		$	63,018

Reconciliation of total incurred claims to total insurance benefits and losses

Following is a reconciliation of total incurred claims to total insurance benefits and losses incurred:

	2014		2013
Total incurred claims	$	103,742	$	96,247
Cash surrender value and matured endowments		1,574		1,215
Benefit reserve changes		879		2,910
Total insurance benefits and losses incurred	$	106,195	$	100,372

Note 4. Reinsurance

Effects of reinsurance on premiums written, premiums earned and insurance benefits and losses incurred

The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range.

+ References+ Details

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2014

Reinsurance [Abstract]

The effects of reinsurance on premiums written, premiums earned and insurance benefits and losses incurred were as follows:

	2014			2013
Direct premiums written	$	138,276		$	141,313
Assumed premiums written		18,231			16,702
Ceded premiums written		(5,890	)		(7,607	)
Net premiums written	$	150,617		$	150,408

Direct premiums earned	$	141,212		$	141,720
Assumed premiums earned		18,166			11,517
Ceded premiums earned		(5,890	)		(7,607	)
Net premiums earned	$	153,488		$	145,630

Provision for benefits and losses incurred	$	110,912		$	105,828
Reinsurance loss recoveries		(4,717	)		(5,456	)
Insurance benefits and losses incurred	$	106,195		$	100,372

Components of reinsurance receivables

Components of reinsurance receivables were as follows:

	2014		2013
Receivable on unpaid losses	$	14,302	$	14,314
Receivable on paid losses		46		—
Total reinsurance receivables	$	14,348	$	14,314

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Allocation of total income taxes

Total income taxes were allocated as follows:

	2014		2013
Total tax expense on income	$	474	$	184

Tax expense (benefit) on components of shareholders’ equity:
Net unrealized gains (losses) on investment securities		1,656		(7,247	)
Fair value adjustment to derivative financial instrument		—		49
Total tax expense (benefit) on shareholders’ equity		1,656		(7,198	)
Total tax expense (benefit)	$	2,130	$	(7,014	)

Reconciliation of income tax expense

A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and the income tax expense is as follows:

	2014			2013
Federal income tax provision at statutory rate of 35%	$	1,717		$	3,922
Dividends-received deduction		(115	)		(149	)
Small life insurance company deduction		(600	)		(586	)
Other		53			50
Change in asset valuation allowance due to change in judgment relating to realizability of deferred tax assets		(651	)		(3,059	)
Adjustment for prior years’ estimates to actual		70			6
Income tax expense	$	474		$	184

Deferred tax liabilities and assets

Deferred tax liabilities and assets at December 31, 2014 and 2013 were comprised of the following:

	2014			2013
Deferred tax liabilities:
Deferred acquisition costs	$	(2,832	)	$	(3,766	)
Deferred and uncollected premiums		(704	)		(734	)
Net unrealized investment gains		(4,997	)		(3,341	)
Other		(37	)		(8	)
Total deferred tax liabilities		(8,570	)		(7,849	)
Deferred tax assets:
Net operating loss carryforwards		20			844
Insurance reserves		4,676			5,109
Capital loss carryforwards		—			2,177
Impaired assets		1,474			1,406
Alternative minimum tax credit		239			309
Bad debts and other		766			576
Total deferred tax assets		7,175			10,421
Asset valuation allowance		—			(2,209	)
Net deferred tax asset (liability)	$	(1,395	)	$	363

Components of income tax expense

The components of income tax expense were:

	2014			2013
Current - Federal	$	372		$	513
Deferred - Federal		753			2,730
Change in deferred tax asset valuation allowance		(651	)		(3,059	)
Total	$	474		$	184

Junior Subordinated Debentures (Tables)

12 Months Ended

Dec. 31, 2014

Junior Subordinated Debentures [Abstract]

Financial structure of statutory business trusts

The financial structure of each of Atlantic American Statutory Trust I and II, as of December 31, 2014 and 2013, was as follows:

	Atlantic American Statutory Trust I		Atlantic American Statutory Trust II
JUNIOR SUBORDINATED DEBENTURES⁽¹⁾⁽²⁾
Principal amount owed	$	18,042	$	23,196
Balance December 31, 2014	$	18,042	$	23,196
Less: Treasury debt⁽³⁾		—		(7,500	)
Net balance December 31, 2014	$	18,042	$	15,696
Net balance December 31, 2013	$	18,042	$	23,196
Coupon rate	LIBOR + 4.00%		LIBOR + 4.10%
Interest payable	Quarterly		Quarterly
Maturity date	December 4, 2032		May 15, 2033
Redeemable by issuer	Yes		Yes
TRUST PREFERRED SECURITIES
Issuance date	December 4, 2002		May 15, 2003
Securities issued	17,500		22,500
Liquidation preference per security	$	1	$	1
Liquidation value	17,500		22,500
Coupon rate	LIBOR + 4.00%		LIBOR + 4.10%
Distribution payable	Quarterly		Quarterly
Distribution guaranteed by⁽⁴⁾	Atlantic		Atlantic
	American		American
	Corporation		Corporation

⁽¹⁾

⁽²⁾

⁽³⁾

⁽⁴⁾

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Benefit Plans [Abstract]

Summary of status of the stock options

A summary of the status of the Company’s stock options at December 31, 2014 and 2013 is as follows:

	2014				2013
Options	Shares		Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Options outstanding, beginning of year		—	$	—		77,000		$	1.59
Options exercised		—		—		(62,500	)		1.59
Options canceled or expired		—		—		(14,500	)		1.59
Options outstanding, end of year		—		—		—			—
Options available for future grant		1,651,500				1,800,000

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2014

Earnings Per Common Share [Abstract]

Reconciliation of numerator and denominator used in earnings per common share calculations

A reconciliation of the numerator and denominator of the earnings per common share calculations is as follows:

	For the Year Ended December 31, 2014
	Income			Shares (In thousands)		Per Share Amount
Basic and Diluted Earnings Per Common Share
Net income before preferred stock dividends	$	4,430			20,818
Less preferred stock dividends		(468	)		—
Net income applicable to common shareholders	$	3,962			20,818	$	.19

	For the Year Ended December 31, 2013
	Income			Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share
Net income before preferred stock dividends	$	11,022			21,236
Less preferred stock dividends		(482	)		—
Net income applicable to common shareholders		10,540			21,236	$	.50
Diluted Earnings Per Common Share
Effect of dilutive stock options		—			10
Effect of Series D Preferred Stock		482			1,629
Net income applicable to common shareholders	$	11,022			22,875	$	.48

Statutory Reporting (Tables)

12 Months Ended

Dec. 31, 2014

Statutory Reporting [Abstract]

Reported statutory net income and surplus for the Parent's insurance subsidiaries

The amount of reported statutory net income and surplus (shareholders’ equity) for the Parent’s insurance subsidiaries for the years ended December 31 was as follows:

	2014		2013
Life and Health, net income	$	2,738	$	3,013
Property and Casualty, net income		4,813		6,224
Statutory net income	$	7,551	$	9,237

Life and Health, surplus	$	34,004	$	34,530
Property and Casualty, surplus		39,012		39,092
Statutory surplus	$	73,016	$	73,622

Revenue and income (loss) before tax for each business unit

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References+ Details

Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Information [Abstract]

	2014
	American Southern			Bankers Fidelity			Corporate & Other			Adjustments & Eliminations			Consolidated
Insurance premiums	$	52,654		$	100,834		$	—		$	—		$	153,488
Insurance benefits and losses incurred		38,179			68,016			—			—			106,195
Expenses deferred		(7,845	)		(2,305	)		—			—			(10,150	)
Amortization and depreciation expense		8,646			2,457			507			—			11,610
Other expenses		13,644			33,725			15,601			(9,208	)		53,762
Total expenses		52,624			101,893			16,108			(9,208	)		161,417
Underwriting income (loss)		30			(1,059	)
Investment income		4,447			5,507			2,152			(1,739	)		10,367
Other income		8			11			7,595			(7,469	)		145
Operating income (loss)		4,485			4,459			(6,361	)		—			2,583
Net realized gains		527			694			350			—			1,571
Gain on purchase of debt securities (Note 6)		—			—			750			—			750
Income (loss) before income taxes	$	5,012		$	5,153		$	(5,261	)	$	—		$	4,904
Total revenues	$	57,636		$	107,046		$	10,847		$	(9,208	)	$	166,321
Intangibles	$	1,350		$	1,194		$	—		$	—		$	2,544
Total assets	$	129,517		$	161,729		$	139,271		$	(113,509	)	$	317,008

	2013
	American Southern			Bankers Fidelity			Corporate & Other			Adjustments & Eliminations			Consolidated
Insurance premiums	$	45,851		$	99,779		$	—		$	—		$	145,630
Insurance benefits and losses incurred		30,197			70,175			—			—			100,372
Expenses deferred		(7,106	)		(3,230	)		—			—			(10,336	)
Amortization and depreciation expense		7,440			2,120			—			—			9,560
Other expenses		15,777			31,742			15,076			(8,028	)		54,567
Total expenses		46,308			100,807			15,076			(8,028	)		154,163
Underwriting loss		(457	)		(1,028	)
Investment income		4,308			5,920			2,338			(1,757	)		10,809
Other income		12			40			6,408			(6,271	)		189
Operating income (loss)		3,863			4,932			(6,330	)		—			2,465
Net realized gains		3,767			4,330			644			—			8,741
Income (loss) before income taxes	$	7,630		$	9,262		$	(5,686	)	$	—		$	11,206
Total revenues	$	53,938		$	110,069		$	9,390		$	(8,028	)	$	165,369
Intangibles	$	1,350		$	1,194		$	—		$	—		$	2,544
Total assets	$	126,861		$	156,484		$	141,304		$	(105,268	)	$	319,381

Disclosures About Fair Value of Financial Instruments [Abstract]

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Disclosures About Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Carrying amount, estimated fair value and level within the fair value hierarchy of financial instruments

		2014				2013
	Level in Fair Value Hierarchy⁽¹⁾	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets:
Cash and cash equivalents	Level 1	$	16,375	$	16,375	$	33,102	$	33,102
Fixed maturities	⁽¹⁾		214,888		214,888		201,303		201,303
Equity securities	⁽¹⁾		18,924		18,924		21,890		21,890
Other invested assets	Level 3		2,995		2,995		2,123		2,123
Policy loans	Level 2		2,202		2,202		2,369		2,369
Real estate	Level 2		38		38		38		38
Investments in unconsolidated trusts	Level 2		1,238		1,238		1,238		1,238

Liabilities:
Junior Subordinated Debentures, net	Level 2		33,738		33,738		41,238		41,238

⁽¹⁾

See Note 2 for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.

Assets and liabilities acquired

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

Acquisitions [Abstract]

	2013
Cash and cash equivalents	$	1,317
Investments		2,123
Receivables		7
Intangibles		416
Total assets	$	3,863

Accounts payable and accrued expenses	$	6
Total liabilities	$	6

Summary of Significant Accounting Policies (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 Subsidiary
Principles of Consolidation [Abstract]
Number of insurance subsidiaries owned by the Parent	4
Number of non-insurance subsidiaries owned by the Parent	1
Investments [Abstract]
Estimated fair value	$ 2,214

Investments (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	$ 240,285	$ 228,961
Gross Unrealized Gains	17,270	15,350
Gross Unrealized Losses	2,995	5,806
Amortized Cost	226,010	219,417
Amortized cost of bonds on deposit with insurance regulatory authorities	10,615	10,101
U.S. Treasury securities and obligations of U.S. Government agencies and authorities [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	33,898	17,240
Amortized Cost	32,469	16,874
Obligations of states and political subdivisions [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	11,459	7,611
Amortized Cost	10,778	7,226
Utilities and telecom [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	15,383	18,006
Amortized Cost	12,589	16,150
Financial services [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	65,915	58,451
Amortized Cost	62,352	57,118
Other business - diversified [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	70,365	70,504
Amortized Cost	69,940	72,409
Other consumer - diversified [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	36,792	51,381
Amortized Cost	31,409	43,872
Fixed maturities [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	214,888	201,303
Gross Unrealized Gains	10,315	5,332
Gross Unrealized Losses	2,995	5,246
Amortized Cost	207,568	201,217
Fixed maturities [Member] \| Oil and Gas Properties [Member]
Schedule of investments aggregated by type and industry [Abstract]
Gross Unrealized Losses	1,416
Fixed maturities [Member] \| Bonds [Member] \| U.S. Treasury securities and obligations of U.S. Government agencies and authorities [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	33,898	17,240
Gross Unrealized Gains	1,459	576
Gross Unrealized Losses	30	210
Amortized Cost	32,469	16,874
Fixed maturities [Member] \| Bonds [Member] \| Obligations of states and political subdivisions [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	11,459	7,611
Gross Unrealized Gains	681	402
Gross Unrealized Losses	0	17
Amortized Cost	10,778	7,226
Fixed maturities [Member] \| Corporate securities [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	168,731	174,101
Gross Unrealized Gains	8,167	4,350
Gross Unrealized Losses	2,965	4,978
Amortized Cost	163,529	174,729
Fixed maturities [Member] \| Corporate securities [Member] \| Utilities and telecom [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	13,980	16,532
Gross Unrealized Gains	2,355	1,353
Gross Unrealized Losses	0	7
Amortized Cost	11,625	15,186
Fixed maturities [Member] \| Corporate securities [Member] \| Financial services [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	59,224	50,531
Gross Unrealized Gains	3,404	1,736
Gross Unrealized Losses	588	320
Amortized Cost	56,408	49,115
Fixed maturities [Member] \| Corporate securities [Member] \| Other business - diversified [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	70,139	70,326
Gross Unrealized Gains	2,076	870
Gross Unrealized Losses	1,830	2,906
Amortized Cost	69,893	72,362
Fixed maturities [Member] \| Corporate securities [Member] \| Other consumer - diversified [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	25,388	36,712
Gross Unrealized Gains	332	391
Gross Unrealized Losses	547	1,745
Amortized Cost	25,603	38,066
Fixed maturities [Member] \| Redeemable preferred stocks [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	800	2,351
Gross Unrealized Gains	8	4
Gross Unrealized Losses	0	41
Amortized Cost	792	2,388
Fixed maturities [Member] \| Redeemable preferred stocks [Member] \| Financial services [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	608	2,159
Gross Unrealized Gains	8	4
Gross Unrealized Losses	0	41
Amortized Cost	600	2,196
Fixed maturities [Member] \| Redeemable preferred stocks [Member] \| Other consumer - diversified [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	192	192
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Amortized Cost	192	192
Equity securities [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	18,924	21,890
Gross Unrealized Gains	6,955	10,018
Gross Unrealized Losses	0	560
Amortized Cost	11,969	12,432
Equity securities [Member] \| Common and non-redeemable preferred stocks [Member] \| Utilities and telecom [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	1,403	1,474
Gross Unrealized Gains	439	510
Gross Unrealized Losses	0	0
Amortized Cost	964	964
Equity securities [Member] \| Common and non-redeemable preferred stocks [Member] \| Financial services [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	6,083	5,761
Gross Unrealized Gains	739	514
Gross Unrealized Losses	0	560
Amortized Cost	5,344	5,807
Equity securities [Member] \| Common and non-redeemable preferred stocks [Member] \| Other business - diversified [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	226	178
Gross Unrealized Gains	179	131
Gross Unrealized Losses	0	0
Amortized Cost	47	47
Equity securities [Member] \| Common and non-redeemable preferred stocks [Member] \| Other consumer - diversified [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	11,212	14,477
Gross Unrealized Gains	5,598	8,863
Gross Unrealized Losses	0	0
Amortized Cost	5,614	5,614
Other invested assets [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	2,995	2,123
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Amortized Cost	2,995	2,123
Policy loans [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	2,202	2,369
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Amortized Cost	2,202	2,369
Real estate [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	38	38
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Amortized Cost	38	38
Investments in unconsolidated trusts [Member]
Schedule of investments aggregated by type and industry [Abstract]
Carrying Value	1,238	1,238
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Amortized Cost	$ 1,238	$ 1,238

Investments, Part II (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Schedule of investments aggregated by industry [Abstract]
Carrying Value	$ 240,285	$ 228,961
Amortized Cost	226,010	219,417
Unrealized Gains (Losses)	14,275	9,544
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months	47,691	105,821
12 months or longer	11,985	6,938
Total Fair Value	59,676	112,759
Available-for-sale securities, continuous unrealized loss position, Unrealized Losses [Abstract]
Less than 12 months	1,611	4,542
12 months or longer	1,384	1,264
Total Unrealized Losses	2,995	5,806
U.S. Treasury securities and obligations of U.S. Government agencies and authorities [Member]
Schedule of investments aggregated by industry [Abstract]
Carrying Value	33,898	17,240
Amortized Cost	32,469	16,874
Unrealized Gains (Losses)	1,429	366
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months	3,695	8,326
12 months or longer	2,692	0
Total Fair Value	6,387	8,326
Available-for-sale securities, continuous unrealized loss position, Unrealized Losses [Abstract]
Less than 12 months	7	210
12 months or longer	23	0
Total Unrealized Losses	30	210
Obligations of states and political subdivisions [Member]
Schedule of investments aggregated by industry [Abstract]
Carrying Value	11,459	7,611
Amortized Cost	10,778	7,226
Unrealized Gains (Losses)	681	385
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months		1,018
12 months or longer		0
Total Fair Value		1,018
Available-for-sale securities, continuous unrealized loss position, Unrealized Losses [Abstract]
Less than 12 months		17
12 months or longer		0
Total Unrealized Losses		17
Utilities and telecom [Member]
Schedule of investments aggregated by industry [Abstract]
Carrying Value	15,383	18,006
Amortized Cost	12,589	16,150
Unrealized Gains (Losses)	2,794	1,856
Financial services [Member]
Schedule of investments aggregated by industry [Abstract]
Carrying Value	65,915	58,451
Amortized Cost	62,352	57,118
Unrealized Gains (Losses)	3,563	1,333
Other business - diversified [Member]
Schedule of investments aggregated by industry [Abstract]
Carrying Value	70,365	70,504
Amortized Cost	69,940	72,409
Unrealized Gains (Losses)	425	(1,905)
Other consumer - diversified [Member]
Schedule of investments aggregated by industry [Abstract]
Carrying Value	36,792	51,381
Amortized Cost	31,409	43,872
Unrealized Gains (Losses)	5,383	7,509
Other investments [Member]
Schedule of investments aggregated by industry [Abstract]
Carrying Value	6,473	5,768
Amortized Cost	6,473	5,768
Unrealized Gains (Losses)	0	0
Corporate securities [Member]
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months	43,996	92,049
12 months or longer	9,293	6,938
Total Fair Value	53,289	98,987
Available-for-sale securities, continuous unrealized loss position, Unrealized Losses [Abstract]
Less than 12 months	1,604	3,714
12 months or longer	1,361	1,264
Total Unrealized Losses	2,965	4,978
Redeemable preferred stocks [Member]
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months		704
12 months or longer		0
Total Fair Value		704
Available-for-sale securities, continuous unrealized loss position, Unrealized Losses [Abstract]
Less than 12 months		41
12 months or longer		0
Total Unrealized Losses		41
Common and non-redeemable preferred stocks [Member]
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months		3,724
12 months or longer		0
Total Fair Value		3,724
Available-for-sale securities, continuous unrealized loss position, Unrealized Losses [Abstract]
Less than 12 months		560
12 months or longer		0
Total Unrealized Losses		560
Schedule of Other Than Temporary Impairments [Abstract]
Investment impairments	$ 196	$ 0

Investments, Part III (Details) (Recurring [Member], USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	$ 248,821	$ 254,811
Fixed maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	214,888	201,303
Equity securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	18,924	21,890
Cash equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	15,009	31,618
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	28,157	48,024
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Fixed maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Equity securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	13,148	16,406
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Cash equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	15,009	31,618
Significant Other Observable Inputs (Level 2) [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	218,450	204,796
Significant Other Observable Inputs (Level 2) [Member] \| Fixed maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	212,674	199,312
Significant Other Observable Inputs (Level 2) [Member] \| Equity securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	5,776	5,484
Significant Other Observable Inputs (Level 2) [Member] \| Cash equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	0	0
Significant Unobservable Inputs (Level 3) [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	2,214	1,991
Significant Unobservable Inputs (Level 3) [Member] \| Fixed maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	2,214	1,991
Significant Unobservable Inputs (Level 3) [Member] \| Equity securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	0	0
Significant Unobservable Inputs (Level 3) [Member] \| Cash equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	$ 0	$ 0

Investments, Part IV (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fixed maturities [Member]
Assets measured at fair value on a recurring basis [Abstract]
Balance, beginning of period	$ 1,991	$ 2,124
Total unrealized gains (losses) included in comprehensive income	223	(133)
Balance, end of period	2,214	1,991
Derivative (Liability) [Member]
Liabilities measured at fair value on a recurring basis [Abstract]
Balance, beginning of period	0	(141)
Total unrealized gains included in comprehensive income	0	141
Balance, end of period	$ 0	$ 0

Investments, Part V (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Carrying Value [Abstract]
Due in one year or less	$ 1,000	$ 0
Due after one year through five years	16,523	11,709
Due after five years through ten years	114,620	108,358
Due after ten years	64,990	76,882
Varying maturities	17,755	4,354
Totals	214,888	201,303
Amortized Cost [Abstract]
Due in one year or less	1,000	0
Due after one year through five years	15,891	11,097
Due after five years through ten years	112,381	107,846
Due after ten years	61,704	77,884
Varying maturities	16,592	4,390
Totals	207,568	201,217
Investment income earned [Abstract]
Total investment income	10,367	10,809
Less investment expenses, included in other expenses	(536)	(474)
Net investment income	9,831	10,335
Summary of realized investment gains (losses) [Abstract]
Gains	2,449	8,814
Losses	(878)	(73)
Realized investment gains (losses), net	1,571	8,741
Proceeds from sales of investments [Abstract]
Total proceeds	75,441	108,745
Percentage of investment grade securities in bond portfolio (in hundredths)	83.00%
Fixed maturities [Member]
Investment income earned [Abstract]
Total investment income	9,720	9,890
Summary of realized investment gains (losses) [Abstract]
Gains	2,449	8,521
Losses	(665)	(45)
Realized investment gains (losses), net	1,784	8,476
Proceeds from sales of investments [Abstract]
Total proceeds	75,244	107,728
Equity securities [Member]
Investment income earned [Abstract]
Total investment income	510	632
Summary of realized investment gains (losses) [Abstract]
Gains	0	293
Losses	(213)	(28)
Realized investment gains (losses), net	(213)	265
Proceeds from sales of investments [Abstract]
Total proceeds	0	972
Other investments [Member]
Investment income earned [Abstract]
Total investment income	137	287
Proceeds from sales of investments [Abstract]
Total proceeds	$ 197	$ 45

Insurance Reserves and Policyholder Funds (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Reserves for life, accident and health [Abstract]
Future policy benefits	$ 70,845	$ 69,864
Amount of Insurance In Force, Net	239,004	241,198
Unearned premiums	24,544	27,415
Losses, claims and loss adjustment expenses	66,625	63,018
Other policy liabilities	2,080	2,076
Total insurance reserves and policyholder funds	164,094	162,373
Annualized premiums for accident and health insurance policies	88,956	91,359
Summary of activity in liability for unpaid loss and claim reserves [Abstract]
Balance at January 1	63,018	62,873
Less: Reinsurance receivable on unpaid losses	(14,314)	(18,743)
Net balance at January 1	48,704	44,130
Incurred related to [Abstract]
Current year	104,225	97,904
Prior years	(483)	(1,657)
Total incurred	103,742	96,247
Paid related to [Abstract]
Current year	72,443	66,705
Prior years	27,680	24,968
Total paid	100,123	91,673
Net balance at December 31	52,323	48,704
Plus: Reinsurance receivable on unpaid losses	14,302	14,314
Balance at December 31	66,625	63,018
Reconciliation of total incurred claims to total insurance benefits and losses incurred [Abstract]
Total incurred claims	103,742	96,247
Cash surrender value and matured endowments	1,574	1,215
Benefit reserve changes	879	2,910
Total insurance benefits and losses incurred	106,195	100,372
Ordinary [Member]
Reserves for life, accident and health [Abstract]
Future policy benefits	53,555	52,915
Amount of Insurance In Force, Net	235,856	237,694
Mass market [Member]
Reserves for life, accident and health [Abstract]
Future policy benefits	2,475	2,715
Amount of Insurance In Force, Net	3,148	3,504
Individual annuities [Member]
Reserves for life, accident and health [Abstract]
Future policy benefits	130	135
Amount of Insurance In Force, Net	0	0
Life insurance segment [Member]
Reserves for life, accident and health [Abstract]
Future policy benefits	56,160	55,765
Amount of Insurance In Force, Net	239,004	241,198
Accident and health insurance segment [Member]
Reserves for life, accident and health [Abstract]
Future policy benefits	$ 14,685	$ 14,099
Life, accident and health insurance [Member] \| Prior to 1977 [Member]
Future policy benefits [Abstract]
Policy issue range for future benefits assumptions	prior to 1977
Life, accident and health insurance [Member] \| Prior to 1977 [Member] \| Minimum [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	2.50%
Life, accident and health insurance [Member] \| Prior to 1977 [Member] \| Maximum [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	5.50%
Life, accident and health insurance [Member] \| 1977 through 1979 [Member]
Future policy benefits [Abstract]
Policy issue range for future benefits assumptions	1977 through 1979
Life, accident and health insurance [Member] \| 1977 through 1979 [Member] \| Minimum [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	5.50%
Life, accident and health insurance [Member] \| 1977 through 1979 [Member] \| Maximum [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	7.00%
Life, accident and health insurance [Member] \| 1980 through 1987 [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	9.00%
Policy issue range for future benefits assumptions	1980 through 1987
Life, accident and health insurance [Member] \| 1988 through 2009 [Member]
Future policy benefits [Abstract]
Policy issue range for future benefits assumptions	1988 through 2009
Life, accident and health insurance [Member] \| 1988 through 2009 [Member] \| Minimum [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	5.00%
Life, accident and health insurance [Member] \| 1988 through 2009 [Member] \| Maximum [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	7.00%
Life, accident and health insurance [Member] \| 2010 through 2012 [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	4.00%
Policy issue range for future benefits assumptions	2010 through 2012 issues
Life, accident and health insurance [Member] \| 2013 to 2014 [Member]
Future policy benefits [Abstract]
Interest rates assumed for future policy benefits (in hundredths)	3.50%
Policy issue range for future benefits assumptions	2013 through 2014 issues

Reinsurance (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 Reinsurer	Dec. 31, 2013
Ceded Credit Risk [Line Items]
Reinsurance receivables due from reinsurers (in hundredths)	99.00%
Number of reinsurers	2
Summary reconciliation of premiums written and premiums earned [Abstract]
Direct premiums written	$ 138,276	$ 141,313
Assumed premiums written	18,231	16,702
Ceded premiums written	(5,890)	(7,607)
Net premiums written	150,617	150,408
Direct premiums earned	141,212	141,720
Assumed premiums earned	18,166	11,517
Ceded premiums earned	(5,890)	(7,607)
Net premiums earned	153,488	145,630
Provision for benefits and losses incurred	110,912	105,828
Reinsurance loss recoveries	(4,717)	(5,456)
Total insurance benefits and losses incurred	106,195	100,372
Components of reinsurance receivables [Abstract]
Receivable on unpaid losses	14,302	14,314
Receivable on paid losses	46	0
Total reinsurance receivables	14,348	14,314
Swiss Reinsurance Corporation [Member]
Ceded Credit Risk [Line Items]
Reinsurance receivables due	1,218
General Reinsurance Corporation [Member]
Ceded Credit Risk [Line Items]
Reinsurance receivables due	$ 12,986

Income Taxes (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Allocation of total income taxes [Abstract]
Total tax expense on income	$ 474	$ 184
Tax expense (benefit) on components of shareholders equity: [Abstract]
Net unrealized gains (losses) on investment securities	1,656	(7,247)
Fair value adjustment to derivative financial instrument	0	49
Total tax expense (benefit) on shareholders equity	1,656	(7,198)
Total tax expense (benefit)	2,130	(7,014)
Reconciliation of income tax (benefit) expense [Abstract]
Federal income tax provision at statutory rate of 35%	1,717	3,922
Dividends-received deduction	(115)	(149)
Small life insurance company deduction	(600)	(586)
Other	53	50
Change in asset valuation allowance due to change in judgment relating to realizability of deferred tax assets	(651)	(3,059)
Adjustment for prior years' estimates to actual	70	6
Income tax expense	474	184
Federal statutory income tax rate (in hundredths)	35.00%
SLD as percentage of life insurance company taxable income (in hundredths)	60.00%
Percentage of reduction in SLD (in hundredths)	15.00%
Minimum tentative amount of LICTI	3,000
Maximum tentative amount of LICTI	15,000
Deferred tax liabilities [Abstract]
Deferred acquisition costs	(2,832)	(3,766)
Deferred and uncollected premiums	(704)	(734)
Net unrealized investment gains	(4,997)	(3,341)
Other	(37)	(8)
Total deferred tax liabilities	(8,570)	(7,849)
Deferred tax assets [Abstract]
Net operating loss carryforwards	20	844
Insurance reserves	4,676	5,109
Capital loss carryforwards	0	2,177
Impaired assets	1,474	1,406
Alternative minimum tax credit	239	309
Bad debts and other	766	576
Total deferred tax assets	7,175	10,421
Asset valuation allowance	0	(2,209)
Net deferred tax asset (liability)	(1,395)	363
Components of income tax expense [Abstract]
Current - Federal	372	513
Deferred - Federal	753	2,730
Change in deferred tax asset valuation allowance	(651)	(3,059)
Income tax expense	474	184
Regular federal net operating loss carryforwards subject to expiration	$ 58
Regular federal net operating loss carryforwards expiration date	2032

Junior Subordinated Debentures (Details) (USD $)
In Thousands, except Share data, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Trust

Dec. 31, 2013

Debt Instrument [Line Items]

Number of Connecticut statutory business trusts

Financial structure of statutory business trusts [Abstract]

Net balance December 31, 2014

$ 33,738

$ 41,238

Consideration tendered upon settlement of Junior Subordinated Debentures

6,750

Gain on settlement of Junior Subordinated Debentures

750

JUNIOR SUBORDINATED DEBENTURES [Member]

Financial structure of statutory business trusts [Abstract]

Consideration tendered upon settlement of Junior Subordinated Debentures

6,750

Gain on settlement of Junior Subordinated Debentures

750

Number of consecutive quarters for which interest payments can be deferred

Atlantic American Statutory Trust I [Member] | JUNIOR SUBORDINATED DEBENTURES [Member]

Financial structure of statutory business trusts [Abstract]

Principal amount owed

18,042

^[1],[2]

Balance December 31, 2014

18,042

^[1],[2]

Less: Treasury debt

^[1],[2],[3]

Net balance December 31, 2014

18,042

^[1],[2]

Net Balance December 31, 2013

18,042

^[1],[2]

Financial structure of statutory business trusts [Abstract]

LIBOR + 4.00%

^[1],[2]

Interest payable

Quarterly

^[1],[2]

Maturity date

Dec. 04, 2032

^[1],[2]

Redeemable by issuer

Yes

^[1],[2]

Atlantic American Statutory Trust I [Member] | JUNIOR SUBORDINATED DEBENTURES [Member] | LIBOR [Member]

Financial structure of statutory business trusts [Abstract]

4.00%

Atlantic American Statutory Trust I [Member] | TRUST PREFERRED SECURITIES [Member]

Issuance date

Dec. 04, 2002

Securities issued (in shares)

17,500

Liquidation preference per security (in dollars per share)

$ 1

Liquidation value

17,500

Distribution guaranteed by

LIBOR + 4.00%

Distribution payable

Quarterly

Atlantic American Corporation

^[4]

Atlantic American Statutory Trust I [Member] | TRUST PREFERRED SECURITIES [Member] | LIBOR [Member]

Financial structure of statutory business trusts [Abstract]

Financial structure of statutory business trusts [Abstract]

4.00%

Atlantic American Statutory Trust II [Member] | JUNIOR SUBORDINATED DEBENTURES [Member]

Principal amount owed

23,196

^[1],[2]

Balance December 31, 2014

23,196

^[1],[2]

Less: Treasury debt

(7,500)

^[1],[2],[3]

Net balance December 31, 2014

15,696

^[1],[2]

Net Balance December 31, 2013

23,196

^[1],[2]

Financial structure of statutory business trusts [Abstract]

LIBOR + 4.10%

^[1],[2]

Interest payable

Quarterly

^[1],[2]

Maturity date

May 15, 2033

^[1],[2]

Redeemable by issuer

Yes

^[1],[2]

Atlantic American Statutory Trust II [Member] | JUNIOR SUBORDINATED DEBENTURES [Member] | LIBOR [Member]

Financial structure of statutory business trusts [Abstract]

4.10%

Atlantic American Statutory Trust II [Member] | TRUST PREFERRED SECURITIES [Member]

Issuance date

May 15, 2003

Securities issued (in shares)

22,500

Liquidation preference per security (in dollars per share)

$ 1

Liquidation value

$ 22,500

Distribution guaranteed by

LIBOR + 4.10%

Distribution payable

Quarterly

Atlantic American Corporation

^[4]

Atlantic American Statutory Trust II [Member] | TRUST PREFERRED SECURITIES [Member] | LIBOR [Member]

Financial structure of statutory business trusts [Abstract]

4.10%

[1]	For each of the respective debentures, the Company has the right at any time, and from time to time, to defer payments of interest on the Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters up to the debentures' respective maturity dates. During any such period, interest will continue to accrue and the Company may not declare or pay any cash dividends or distributions on, or purchase, the Company's common stock nor make any principal, interest or premium payments on or repurchase any debt securities that rank equally with or junior to the Junior Subordinated Debentures. The Company has the right at any time to dissolve each of the trusts and cause the Junior Subordinated Debentures to be distributed to the holders of the Trust Preferred Securities.
[2]	The Junior Subordinated Debentures are unsecured and rank junior and subordinate in right of payment to all senior debt of the Parent and are effectively subordinated to all existing and future liabilities of its subsidiaries.
[3]	On August 4, 2014, the Company acquired $7,500 of the Junior Subordinated Debentures. Consideration tendered, upon settlement, was $6,750 plus accrued interest resulting in a gain of $750 recognized in other income on the accompanying consolidated statements of operations in 2014
[4]	The Parent has guaranteed, on a subordinated basis, all of the obligations under the Trust Preferred Securities, including payment of the redemption price and any accumulated and unpaid distributions to the extent of available funds and upon dissolution, winding up or liquidation.

Commitments and Contingencies (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies [Abstract]
Rental expense for operating leases	$ 1,229	$ 1,215
Future minimum base lease obligations under non-cancelable operating leases [Abstract]
2015	896
2016	435
2017	446
2018	457
2019	193
Thereafter	0
Total	$ 2,427

Benefit Plans (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Stock Options [Member]
Summary of stock options' status, in shares [Roll Forward]
Options outstanding, beginning of year (in shares)	0	77,000
Options exercised (in shares)	0	(62,500)
Options canceled or expired (in shares)	0	(14,500)
Options outstanding, end of year (in shares)	0	0
Options available for future grant (in shares)	1,651,500	1,800,000
Weighted Average Exercise Price [Roll Forward]
Options outstanding, beginning of year (in dollars per share)	$ 0	$ 1.59
Options exercised (in dollars per share)	$ 0	$ 1.59
Options canceled or expired (in dollars per share)	$ 0	$ 1.59
Options outstanding, end of year (in dollars per share)	$ 0	$ 0
Plan 2012 [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	2,000,000
Plan 2012 [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares issued (in shares)	148,500	200,000
Estimated fair value of shares issued	$ 559	$ 704

Benefit Plans, Share-based Compensation Stock Option by Exercise Price Range (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
401(k) Plan [Abstract]
Maximum percentage of compensation employees may defer (in hundredths)	50.00%
Total matching contribution	$ 186	$ 173
Employer maximum contribution to plan (in hundredths)	50.00%
Percentage of participants contribution (in hundredths)	4.00%
Safe harbor non-elective contribution (in hundredths)	3.00%
Safe harbor non-elective contribution	$ 391	$ 369

Preferred Stock (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Series D Preferred Stock, outstanding (in shares)	55,000	65,000
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Redemption of preferred stock	$ 1,000	$ 500
Dividends paid for Series D Preferred Stock	468	482
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Series D Preferred Stock, outstanding (in shares)	55,000	65,000
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Accrued annual dividends rate (in dollars per share)	$ 7.25	$ 7.25
Number of preferred stock shares convertible to common shares (in shares)	1,378,000
Maximum number of common stock issuable from conversion of preference shares, without obtaining prior shareholder approval (in shares)	2,703,000
Company redeemed shares (in shares)	10,000	5,000
Redemption of preferred stock	1,000	500
Dividends accrued but unpaid	18	21
Dividends paid for Series D Preferred Stock	$ 471	$ 483

Earnings Per Common Share (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income [Abstract]
Net income before preferred stock dividends	$ 4,430	$ 11,022
Less preferred stock dividends	(468)	(482)
Net income applicable to common shareholders	3,962	10,540
Effect of Series D preferred stock		482
Net income applicable to common shareholders, diluted		$ 11,022
Shares [Abstract]
Weighted average shares outstanding (in shares)	20,818
Weighted average shares outstanding, basic (in shares)		21,236
Effect of dilutive stock options (in shares)		10
Effect of Series D preferred stock (in shares)		1,629
Weighted average shares outstanding, diluted (in shares)		22,875
Per Share Amount [Abstract]
Net income applicable to common shareholders (in dollars per share)	$ 0.19
Net income applicable to common shareholders, basic (in dollars per share)	$ 0.19	$ 0.50
Net income applicable to common shareholders, diluted (in dollars per share)	$ 0.19	$ 0.48

Statutory Reporting (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Statutory Accounting Practices [Line Items]
Dividends received from its subsidiaries	$ 6,468	$ 6,646
Maximum dividend payments by insurance subsidiaries without requiring prior approval	7,640
Statutory accounting practices [Member]
Statutory Accounting Practices [Line Items]
Statutory net income	7,551	9,237
Statutory surplus	73,016	73,622
Statutory accounting practices [Member] \| Life and Health [Member]
Statutory Accounting Practices [Line Items]
Statutory net income	2,738	3,013
Statutory surplus	34,004	34,530
Statutory accounting practices [Member] \| Property and Casualty [Member]
Statutory Accounting Practices [Line Items]
Statutory net income	4,813	6,224
Statutory surplus	$ 39,012	$ 39,092

Related Party Transactions (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 Director	Dec. 31, 2013
Related Party Transaction [Line Items]
Number of board of directors	2
Rental expense for operating leases	$ 1,229	$ 1,215
Payment of dividends on Series D Preferred Stock	471	483
Redemption of Series D preferred stock	1,000	500
Series D Preferred Stock [Member]
Related Party Transaction [Line Items]
Payment of dividends on Series D Preferred Stock	471	483
Redemption of Series D preferred stock	1,000	500
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Office and covered garage space leased (in square feet)	49,586
Rental expense for operating leases	852	864
Members of Management [Member]
Related Party Transaction [Line Items]
Aggregate carrying value of investments in Gray	$ 9,242	$ 12,942
Members of Management [Member] \| Class A common stock [Member]
Related Party Transaction [Line Items]
Shares of Gray common stock owned (in shares)	880,272	880,272
Members of Management [Member] \| Common Stock [Member]
Related Party Transaction [Line Items]
Shares of Gray common stock owned (in shares)	106,000	106,000

Balance held at close of period in number of shares.

+ References+ Details

Segment Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Revenue and income (loss) before tax for each business unit [Abstract]
Insurance premiums	$ 153,488	$ 145,630
Insurance benefits and losses incurred	106,195	100,372
Expenses deferred	(10,150)	(10,336)
Amortization and depreciation expense	11,610	9,560
Other expenses	53,762	54,567
Total benefits and expenses	161,417	154,163
Investment income	10,367	10,809
Other income	145	189
Operating income (loss)	2,583	2,465
Net realized gains	1,571	8,741
Gain on purchase of debt securities (Note 6)	750	0
Income before income taxes	4,904	11,206
Total revenues	166,321	165,369
Intangibles	2,544	2,544
Total assets	317,008	319,381
Corporate and Other [Member]
Revenue and income (loss) before tax for each business unit [Abstract]
Insurance premiums	0	0
Insurance benefits and losses incurred	0	0
Expenses deferred	0	0
Amortization and depreciation expense	507	0
Other expenses	15,601	15,076
Total benefits and expenses	16,108	15,076
Investment income	2,152	2,338
Other income	7,595	6,408
Operating income (loss)	(6,361)	(6,330)
Net realized gains	350	644
Gain on purchase of debt securities (Note 6)	750
Income before income taxes	(5,261)	(5,686)
Total revenues	10,847	9,390
Intangibles	0	0
Total assets	139,271	141,304
Adjustments & Eliminations [Member]
Revenue and income (loss) before tax for each business unit [Abstract]
Insurance premiums	0	0
Insurance benefits and losses incurred	0	0
Expenses deferred	0	0
Amortization and depreciation expense	0	0
Other expenses	(9,208)	(8,028)
Total benefits and expenses	(9,208)	(8,028)
Investment income	(1,739)	(1,757)
Other income	(7,469)	(6,271)
Operating income (loss)	0	0
Net realized gains	0	0
Gain on purchase of debt securities (Note 6)	0
Income before income taxes	0	0
Total revenues	(9,208)	(8,028)
Intangibles	0	0
Total assets	(113,509)	(105,268)
American Southern [Member] \| Operating Segments [Member]
Revenue and income (loss) before tax for each business unit [Abstract]
Insurance premiums	52,654	45,851
Insurance benefits and losses incurred	38,179	30,197
Expenses deferred	(7,845)	(7,106)
Amortization and depreciation expense	8,646	7,440
Other expenses	13,644	15,777
Total benefits and expenses	52,624	46,308
Underwriting income (loss)	30	(457)
Investment income	4,447	4,308
Other income	8	12
Operating income (loss)	4,485	3,863
Net realized gains	527	3,767
Gain on purchase of debt securities (Note 6)	0
Income before income taxes	5,012	7,630
Total revenues	57,636	53,938
Intangibles	1,350	1,350
Total assets	129,517	126,861
Bankers Fidelity [Member] \| Operating Segments [Member]
Revenue and income (loss) before tax for each business unit [Abstract]
Insurance premiums	100,834	99,779
Insurance benefits and losses incurred	68,016	70,175
Expenses deferred	(2,305)	(3,230)
Amortization and depreciation expense	2,457	2,120
Other expenses	33,725	31,742
Total benefits and expenses	101,893	100,807
Underwriting income (loss)	(1,059)	(1,028)
Investment income	5,507	5,920
Other income	11	40
Operating income (loss)	4,459	4,932
Net realized gains	694	4,330
Gain on purchase of debt securities (Note 6)	0
Income before income taxes	5,153	9,262
Total revenues	107,046	110,069
Intangibles	1,194	1,194
Total assets	$ 161,729	$ 156,484

Disclosures About Fair Value of Financial Instruments (Details) (USD $)
In Thousands, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Carrying Amount [Member]

Fixed maturities

$ 214,888

^[1]

$ 201,303

^[1]

Equity securities

18,924

^[1]

21,890

^[1]

Carrying Amount [Member] | Level 1 [Member]

16,375

33,102

Carrying Amount [Member] | Level 2 [Member]

Investment in unconsolidated trusts

Policy loans

2,202

2,369

Real estate

1,238

Liabilities [Abstract]

Junior Subordinated Debentures, net

33,738

41,238

Carrying Amount [Member] | Level 3 [Member]

Other invested assets

2,995

2,123

Estimated Fair Value [Member]

Fixed maturities

214,888

^[1]

201,303

^[1]

Equity securities

18,924

^[1]

21,890

^[1]

Estimated Fair Value [Member] | Level 1 [Member]

16,375

33,102

Estimated Fair Value [Member] | Level 2 [Member]

Investment in unconsolidated trusts

Policy loans

2,202

2,369

Real estate

1,238

Liabilities [Abstract]

Junior Subordinated Debentures, net

33,738

41,238

Estimated Fair Value [Member] | Level 3 [Member]

Other invested assets

$ 2,995

$ 2,123

[1]	See Note 2 for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.

Accumulated Other Comprehensive Income (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Changes in balances of each component of accumulated other comprehensive income, net of taxes [Roll Forward]
Beginning balance	$ 6,204
Total other comprehensive income (loss), net of tax	3,075	(13,367)
Ending balance	9,279	6,204
Unrealized Gains on Available-for-Sale Securities [Member]
Changes in balances of each component of accumulated other comprehensive income, net of taxes [Roll Forward]
Beginning balance	6,204
Other comprehensive income before reclassifications	4,096
Amounts reclassified from accumulated other comprehensive income	(1,021)
Total other comprehensive income (loss), net of tax	3,075
Ending balance	$ 9,279

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

Acquisitions (Details) (Direct Life Insurance Company [Member], USD $) In Thousands, unless otherwise specified	Dec. 18, 2013
Direct Life Insurance Company [Member]
Business Acquisition [Line Items]
Business acquired percentage of outstanding stock (in hundredths)	100.00%
Purchase price	$ 3,857
Assets and liabilities acquired [Abstract]
Cash and cash equivalents	1,317
Investments	2,123
Receivables	7
Intangibles	416
Total assets	3,863
Accounts payable and accrued expenses	6
Total liabilities	$ 6

Schedule II CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Details) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

ASSETS [Abstract]

LIABILITIES AND SHAREHOLDERS' EQUITY [Abstract]

$ 16,375

$ 33,102

Investments

240,285

228,961

Other assets

5,747

3,245

Total assets

317,008

319,381

Deferred tax liability, net

1,395

Junior subordinated debentures

33,738

41,238

Total liabilities

212,813

218,454

Shareholders' equity

104,195

100,927

105,736

Total liabilities and shareholders' equity

317,008

319,381

REVENUE [Abstract]

Other

895

189

Total revenue

166,321

165,369

INTEREST EXPENSE

1,607

1,898

INCOME TAX BENEFIT

(474)

(184)

CASH FLOWS FROM OPERATING ACTIVITIES [Abstract]

4,430

11,022

Adjustments to reconcile net income to net cash provided by operating activities [Abstract]

4,430

11,022

Realized investment gains, net

(1,571)

(8,741)

Gain on purchase of debt securities (Note 6)

(750)

Depreciation and amortization

932

600

Compensation expense related to share awards

584

219

Deferred income tax expense (benefit)

102

(329)

(Decrease) increase in other liabilities

(47)

2,292

Other, net

(57)

Net cash provided by operating activities

4,453

13,020

CASH FLOWS FROM INVESTING ACTIVITIES [Abstract]

Proceeds from investments sold, called or matured

1,916

11,414

Investments purchased

(82,836)

(112,466)

Additions to property and equipment

(4,127)

(1,338)

Net cash (used in) provided by investing activities

(9,606)

3,815

CASH FLOWS FROM FINANCING ACTIVITIES [Abstract]

Payment for debt securities (Note 6)

(6,750)

Redemption of Series D preferred stock

(1,000)

(500)

Payment of dividends on Series D Preferred Stock

(471)

(483)

Payment of dividends on common stock

(834)

(423)

Proceeds from shares issued under stock plans

138

Purchase of shares for treasury

(2,603)

(1,416)

Net cash used in financing activities

(11,574)

(2,684)

Net (decrease) increase in cash

(16,727)

14,151

Cash and cash equivalents at beginning of year

33,102

18,951

Cash and cash equivalents at end of year

16,375

33,102

Supplemental disclosure [Abstract]

Cash paid for interest

1,649

1,961

Cash paid for income taxes

445

536

Parent Company [Member]

ASSETS [Abstract]

Investment in subsidiaries

5,947

13,936

Investments

13,766

18,043

113,509

105,268

Investments in unconsolidated trusts

1,238

Income taxes receivable from subsidiaries

2,271

4,530

Other assets

5,113

2,676

Total assets

141,844

145,691

LIABILITIES AND SHAREHOLDERS' EQUITY [Abstract]

Deferred tax liability, net

2,055

297

Other payables

1,856

3,229

Junior subordinated debentures

33,738

41,238

Total liabilities

37,649

44,764

Shareholders' equity

104,195

100,927

Total liabilities and shareholders' equity

141,844

145,691

REVENUE [Abstract]

Fee income from subsidiaries

7,469

6,271

Distributed earnings from subsidiaries

6,468

6,646

Other

1,622

1,330

Total revenue

15,559

14,247

GENERAL AND ADMINISTRATIVE EXPENSES

12,478

11,106

INTEREST EXPENSE

1,607

1,898

Earnings before tax and equity in undistributed earnings (losses) of subsidiaries

1,474

1,243

INCOME TAX BENEFIT

(2,040)

^[1]

(4,504)

^[1]

Earnings after tax but before equity in undistributed earnings (losses) of subsidiaries

3,514

5,747

EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES, NET

916

5,275

CASH FLOWS FROM OPERATING ACTIVITIES [Abstract]

4,430

11,022

Adjustments to reconcile net income to net cash provided by operating activities [Abstract]

4,430

11,022

Realized investment gains, net

(350)

(644)

Gain on purchase of debt securities (Note 6)

(750)

Depreciation and amortization

507

117

Compensation expense related to share awards

584

219

Equity in undistributed earnings of consolidated subsidiaries

(916)

(5,275)

Decrease (increase) in intercompany taxes

2,259

(2,541)

Deferred income tax expense (benefit)

102

(329)

(Decrease) increase in other liabilities

(164)

846

Other, net

161

Net cash provided by operating activities

5,706

3,576

CASH FLOWS FROM INVESTING ACTIVITIES [Abstract]

Proceeds from investments sold, called or matured

2,106

5,568

Investments purchased

(4,438)

Capital contribution to subsidiaries

(100)

(200)

Additions to property and equipment

(4,127)

(1,192)

Net cash (used in) provided by investing activities

(2,121)

(262)

CASH FLOWS FROM FINANCING ACTIVITIES [Abstract]

Payment for debt securities (Note 6)

(6,750)

Redemption of Series D preferred stock

(1,000)

(500)

Payment of dividends on Series D Preferred Stock

(471)

(483)

Payment of dividends on common stock

(834)

(423)

Proceeds from shares issued under stock plans

138

Purchase of shares for treasury

(2,603)

(1,416)

Net cash used in financing activities

(11,574)

(2,684)

Net (decrease) increase in cash

(7,989)

630

Cash and cash equivalents at beginning of year

13,936

13,306

Cash and cash equivalents at end of year

5,947

13,936

Supplemental disclosure [Abstract]

Cash paid for interest

1,649

1,961

Cash paid for income taxes

445

536

Intercompany tax settlement from subsidiaries

$ 4,695

$ 2,574

[1]

Under the terms of a tax-sharing agreement, income tax provisions for the subsidiary companies are computed on a separate company basis. Accordingly, the Company's income tax benefit results from the utilization of the Parent's separate return loss to reduce the consolidated taxable income of the Company.

Schedule III SUPPLEMENTARY INSURANCE INFORMATION (Details) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Supplementary Insurance Information, by Segment [Line Items]

Deferred Acquisition Costs

$ 26,981

$ 27,509

Future Policy Benefits, Losses, Claims and Loss Reserves

137,470

^[1]

132,882

^[2]

Unearned Premiums

24,544

27,415

Other Policy Claims and Benefits Payable

2,080

2,076

Liability for future policy benefits

70,845

69,864

Losses and claims

66,625

63,018

62,873

153,488

145,630

9,831

10,335

106,195

100,372

10,678

8,960

44,544

44,831

Supplementary Insurance Information, by Segment [Line Items]

50,318

50,774

Bankers Fidelity [Member]

Deferred Acquisition Costs

24,360

24,275

Future Policy Benefits, Losses, Claims and Loss Reserves

82,453

81,682

Unearned Premiums

3,884

4,419

Other Policy Claims and Benefits Payable

2,080

2,076

100,834

99,779

4,989

5,466

68,016

70,175

2,220

1,820

31,657

28,812

Supplementary Insurance Information, by Segment [Line Items]

American Southern [Member]

Deferred Acquisition Costs

2,621

3,234

Future Policy Benefits, Losses, Claims and Loss Reserves

55,017

51,200

Unearned Premiums

20,660

22,996

Other Policy Claims and Benefits Payable

52,654

45,851

4,429

4,288

38,179

30,197

8,458

7,140

5,987

8,971

Supplementary Insurance Information, by Segment [Line Items]

50,318

50,774

Other [Member]

413

581

6,900

7,048