Results of Operations for the Three Months Ended September 30, 2025 - American Overseas Group Limited Announces Net Income Of $2.8 Million For the Three Months Ended September 30, 2025

HAMILTON, Bermuda, Dec. 22, 2025 (GLOBE NEWSWIRE) -- American Overseas Group Limited BSX: AORE.BH) (Pink Sheets: AOREF.PK) (“AOG” or the “Company”) today reported consolidated net income available to common shareholders of $2.8 million, or $60.56 per diluted share, for the three months ended September 30, 2025. This compares to consolidated net income available to common shareholders of $3.4 million, or $73.42 per diluted share, for the three months ended September 30, 2024. Book value per weighted share at September 30, 2025 was $1,209.44, an increase from the book value per weighted share of $969.27 at September 30, 2024.

For the three months ended September 30, 2025, net earned property and casualty premiums decreased $1.5 million from $13.7 million a year ago to $12.2 million.

Quarter to Date fee income increased $0.2 million from $5.0 million to $5.2 million and gross written premiums increased $12.8 million, moving from $232.6 million to $245.4 million. Quarter to Date Loss and loss adjustment expenses as a percentage of earned premium decreased from 57.4% to 56.4%.

For the three months ended September 30, 2025, operating expenses increased $0.6 million from $2.5 million to $3.1 million due to a $0.6 million return of funding collateral in the prior year quarter.

As part of its ongoing capital management efforts, the Company will continue to redirect excess capital within the group to debt reduction. In the 3^rd quarter of 2025 the Company reduced the outstanding principal balances in its 12% and 9% Senior Secured Notes by $3.0 million and $0.7 million respectively for a total debt reduction of $3.7 million, reducing total outstanding debt from $20.8 million to $17.1 million as of September 30, 2025. Additionally, The Company reduced the outstanding principal balance of its 12% Senior Secured Notes by $1.3 million in 4^th quarter of 2025, reducing total outstanding debt to a balance of $15.8 million. The Company expects to take additional steps towards leverage reduction unless other compelling opportunities arise.

Forward-Looking Statements

This release contains statements that may be considered "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, the Company's expectations respecting the volatility of its insured portfolio, losses, loss reserves and loss development, the adequacy and availability of its liquidity and capital resources, its current run off strategy, its strategy for writing other reinsurance businesses and its expense reduction measures. These statements are based on current expectations and the current views of the economic and operating environment and are not guarantees of future performance. A number of risks and uncertainties, including economic competitive conditions, could cause actual results to differ materially from those projected in forward-looking statements. The Company's actual results could differ materially from those expressed or implied in the forward-looking statements.

Information About the Company

American Overseas Group Limited is an insurance holding company incorporated in Bermuda and a tax resident of the United Kingdom. Its operating subsidiaries provide specialty property/casualty insurance, reinsurance and insurance management services in the United States. More information can be found at www.aoreltd.com.

American Overseas Group Limited

info@aoreltd.com