SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                           -----------------------

                                    FORM 8-K

                                 CURRENT REPORT

                   Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934



Date of Report (Date of earliest event reported):  April 23, 1996
                                                   --------------
                                                   (April 8, 1996)

                    Atlantic American Corporation
                    -----------------------------
           (Exact name of registrant as specified in its charter)


    Georgia                       0-3722                 58-1027114
- ---------------              ----------------        ------------------
(State or other              (Commission File          (IRS Employer
jurisdiction of                   Number)            Identification No.
incorporation)

 4370 Peachtree Road, N.E., Atlanta, Georgia            30319
 -------------------------------------------          ----------
(Address of principal executive offices)              (Zip Code)


Registrant's telephone number, including area code:  (404) 266-5500





- --------------------------------------------------------------------------------
        (Former name or former address, if changed since last report)








                             Exhibit Index at Page 4



                                   Page 1 of 5

Item 2.  Acquisition or Disposition of Assets.
         -------------------------------------

     On April 8, 1996, Atlantic American  Corporation (the "Company")  completed
the previously announced  disposition of its approximately 82% interest in Leath
Furniture, LLC (f/k/a Leath Furniture, Inc.) ("Leath") to Gulf Capital Services,
Ltd. ("Gulf Capital").  The Company received approximately $5.3 million cash for
its interest in Leath, all of which was used to reduce outstanding  indebtedness
of the  Company.  As a result  of the  transaction,  Leath's  balance  sheet and
results of  operations  will no longer be reflected in the  Company's  financial
statements.

      Gulf  Capital is an entity that is  controlled  by J. Mack  Robinson,  the
Chairman of the Board of the Company,  but is not part of the Atlantic  American
Corporation group of companies.


Item 7.  Financial Statements and Exhibits.
         ----------------------------------

      (a)  Financial statements of businesses acquired.

           Not Applicable.

      (b)  Pro forma financial information.

                Financial  information  that gives effect to the  disposition of
                the  Company's  interest in Leath is contained in the  Company's
                financial statements included as Item 14 of the Company's Annual
                Report on Form 10-K for the year ended December 31, 1995, and is
                incorporated herein by reference.

      (c)  Exhibits

           99.1 --   Press Release issued April 10, 1996






                                   2



                              SIGNATURE
                              ---------

           Pursuant to the requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


ATLANTIC AMERICAN CORPORATION



                               By: /s/ JOHN W. HANCOCK
                                   ----------------------------
                                   Name:  John W. Hancock
                                   Title: Senior Vice President
                                             and Treasurer

Date:  April 23, 1996








                                   3

                            Exhibit Index




Exhibit No.              Description of Exhibits             Page
- -----------              -----------------------             ----

99.1  --        Press Release issued April 10, 1996           5
















                                   4                      



                            EXHIBIT 99.1
                            ------------



NEWS RELEASE                   For further information contact:
For Immediate Release          John W. Hancock
- ---------------------
                               Senior Vice President and Treasurer
                               Atlantic American Corporation
                               (404) 266-5500



          ATLANTIC AMERICAN CORPORATION COMPLETES ITS SALE
                      OF LEATH FURNITURE, INC.



ATLANTA,  April 10, 1996 -- Atlantic American  Corporation  (NASDAQ-AAME)  today
announced  that as of April 8, 1996, it had completed the sale of its previously
announced  disposition of Leath Furniture,  Inc. to Gulf Capital Services,  Ltd.
The Company received $5.3 million for its interest in Leath.  Atlantic  American
plans to use the  proceeds  from this sale to  reduce  debt.  As a result of the
transaction,  Leath's  outstanding debt and results of operations will no longer
be reflected in Atlantic American's financial statements.

Gulf Capital is an entity that is controlled by J. Mack  Robinson,  the Chairman
of the Board of  Atlantic  American,  but is not part of the  Atlantic  American
group of companies.

Atlantic  American is an insurance holding company involved in specialty markets
of  the  life,  health,   property  and  casualty  insurance   industries.   Its
subsidiaries include Atlantic American Life Insurance Company,  Bankers Fidelity
Life Insurance  Company,  Georgia Casualty & Surety Company,  American  Southern
Insurance Company and American Safety Insurance Company.