EXHIBIT INDEX

Exhibits:

Exhibit 99.1         Press release dated November 9, 2005

EXHIBIT 99.1

ATLANTIC AMERICAN CORPORATION ANNOUNCES THIRD QUARTER RESULTS

ATLANTA, Georgia, November 9, 2005 - Atlantic American Corporation (Nasdaq- AAME) today reported net income of $0.6 million, or $0.01 per diluted share, for the third quarter ended September 30, 2005 compared to net income of $1.8 million, or $0.07 per diluted share, for the third quarter ended September 30, 2004. The Company further reported net income of $1.0 million, or $0.00 per diluted share, for the nine months ended September 30, 2005 compared to net income of $4.5 million, or $0.16 per diluted share, for the nine months ended September 30, 2004. Premium revenue for the quarter ended September 30, 2005 decreased $0.5 million, or 1.2%, to $43.4 million and, for the nine months ended September 30, 2005 increased 5.0% to $135.0 million over the comparable prior year periods. Increased premiums have resulted primarily from new business opportunities in the Property and Casualty Division, although recent business rationalization, particularly in Georgia Casualty’s operations, resulted in a slight decline in third quarter premiums. Included in the results for the third quarter of 2005 were $1.7 million in pre-tax hurricane related losses and expenses compared to $3.8 million in the comparable period of 2004. Realized investment gains in the third quarter of 2005 were $0.2 million compared to $1.6 million in the third quarter of 2004. Third quarter 2005 results were also unfavorably impacted by a $0.3 million deferred tax charge related to an increase in the Company’s valuation allowance compared to a $1.3 million deferred tax benefit in the third quarter of 2004. Adjustments to the valuation allowance are the result of periodic reassessments as to the realization of certain net operating loss carry forwards.

Commenting on the quarter, Hilton H. Howell, Jr., president and chief executive officer, stated, “While thankful that we did not sustain hurricane losses and expenses of the same magnitude as in 2004, our thoughts and prayers are with those in the gulf region and south Florida who were affected by the current year storms. The severity and frequency of the hurricanes in these past two seasons have presented us with business challenges dramatically different than we have seen in the past. Consequently, we have been forced to pull back even further from hurricane prone areas. While this decision will shrink the revenue of our regional property and casualty operation, we anticipate it will enhance its stability and consistency of earnings. Both the American Southern and Bankers Fidelity operations continue to perform well.”

Atlantic American is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, property and casualty insurance industries. Its principal subsidiaries include American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company, Georgia Casualty & Surety Company, Association Risk Management General Agency, Association Casualty Insurance Company and Self-Insurance Administrators, Inc.

Note regarding Private Securities Litigation Reform Act: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that Atlantic American Corporation has filed with the Securities and Exchange Commission.

For further information contact:

John G. Sample, Jr.
Senior Vice President and Chief Financial Officer
Atlantic American Corporation
404-266-5501