Atlantic American Corporation (AAME) - Not Halal (Non-Compliant)
Atlantic American Corporation (AAME) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Financial Services
- Industry
- Insurance - Life
- Result
- Pass
- Reason
- The sector "Financial Services" and industry "Insurance - Life" are not in the excluded categories.
Financial Ratios
- Debt Ratio
- Value: 176.3% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 369.9% | Threshold: 30% | Result: Fail
- Non-Permissible Income Ratio
- Value: 0.0% | Threshold: 5% | Result: Pass
Dividend Purification
Purification percentage: 0.00%.No non-permissible income detected in the financial statements. No purification is required based on available data.
About Atlantic American Corporation
Atlantic American Corporation, through its subsidiaries, provides life, health, property, and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability insurance; and inland marine insurance products. It also provides surety bond coverage for subdivision construction; school bus contracts; and performance and payment bonds. In addition, the company offers individual and group whole life insurance products; Medicare supplement insurance products; Vantage Flex Plus, a hospital indemnity plan; and Vantage Recovery, a short-term care product and a group whole life product featuring a chronic illness rider. Further, it provides other accident and health insurance products comprising various individual and group policies for the payment of benefits that help defray the health care and other costs associated with the treatment of cancer and other critical illnesses; policies that reimburse the costs associated with short-term nursing facility care; policies that provides monthly benefits in the event of a covered disability; and policies that offer cash benefits in the event of a covered accident or a covered hospital stay. The company markets its products through independent agents and brokers. The company was founded in 1937 and is based in Atlanta, Georgia. Atlantic American Corporation operates as a subsidiary of Atlantic American / Delta Group.