Acmat Corp. · OTC:ACMT
Acmat — Shareholder Meeting (June 2023)
15 slides from Acmat's shareholder meeting presentation, Jun 22, 2023
Slide 1: Annual Shareholders' Meeting
ACMAT Corporation Annual Shareholders’ Meeting June 22, 2023 2023 – ACMAT Corporation
Slide 2: Financial Position – December 31
Financial Position – December 31 As of December 31, As of December 31, 2022 2021 2022 2021 Assets Liabilities and Stockholders' Equity Investments Reserves for losses and loss adjustment expenses $ 10,304,577 $ 11,095,783 Fixed maturities $ 28,817,974 $ 28,898,556 Unearned premium 332,227 482,057 Eq
Slide 3: Operating Income – December 31
Operating Income – December 31 Year Ended December 31, 2022 2021 Revenues Premiums $ 818,413 $ 742,407 Net investment income 1,720,777 1,471,469 Realized capital gains 193,907 694,947 Unrealized capital (losses) gains on equity securities (2,408,658) 294,830 Fee income 88,253 104,226 Total revenues
Slide 4: Operating Income, Adjusted – December 31
Operating Income, Adjusted – December 31 Year Ended Year Ended December 31, December 31, 2022 2021 2022 2021 Revenues: Earnings per share: Revenues $ 412,692 $ 3,307,879 Net (losses) earnings per share attributable to Common and Class A shareholders, basic and diluted $ (2.45) $ 1.57 Deduct: Unreali
Slide 5: Operating Income, Adjusted – March 31
Operating Income, Adjusted – March 31 Three Months Ended Three Months Ended March 31, March 31, 2023 2022 2023 2022 Revenues: Losses per share: Revenues $ 288,785 $ (204,422) Net losses per share attributable to Common and Class A shareholders, basic and diluted $ (0.47) $ (1.05) Deduct: Unrealized
Slide 6: Historical Net Income – Excluding Unrealized
Historical Net Income – Excluding Unrealized 1,200,000 975,704 796,551 800,000 765,778 774,660 727,087 743,540 400,000 316,292 315,058 - 2015 2016 2017 2018 2019 2020 2021 2022 2023 – ACMAT Corporation 5
Slide 7: Cumulative Unrealized Gains and Losses
Cumulative Unrealized Gains and Losses Note: Amounts are cumulative as of the period-end balance sheet date and include all marketable securities. 3,000,000 2,151,713 1,982,299 2,028,425 2,000,000 992,372 1,029,173 880,014 875,374 1,000,000 390,725 (3,944,708) - (147,453) (93,831) (459,493) (238,683
Slide 8: Realized Capital Gain (Loss) - Historical
Realized Capital Gain (Loss) - Historical 2,500,000 Change in Unrealized Capital Gains and Losses Realized Capital Gain (Loss) 1,500,000 1,261,839 1,174,081 1,075,896 995,071 939,631 866,793 682,946 677,329 694,947 421,443 500,000 195,325 193,907 77,007 (500,000) (227,833) (570,563) (1,500,000) (2,0
Slide 9: Direct Written Surety Premium
Direct Written Surety Premium 3,000,000 2,396,718 2,500,000 2,124,614 2,020,562 2,000,000 1,500,000 1,310,100 1,121,603 934,317 991,180 1,000,000 964,897 1,000,000 856,048 829,622 500,000 - 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Est. 2023 – ACMAT Corporation 8
Slide 10: Written Premium and Fees
Written Premium and Fees Year-to-Date through May 31st 500,000 $425,642 400,000 $287,230 300,000 200,000 100,000 0 May 2023 May 2022 2023 – ACMAT Corporation 9
Slide 11: Paid Losses to Written Premium
Paid Losses to Written Premium $4,000,000 $3,405,052 $3,053,108 Direct Written Premium $1,962,822 $3,000,000 Paid Loss $1,882,328 $2,398,041 $2,396,718 $1,442,887 $2,124,614 $2,020,562 $2,000,000 $1,310,100 $934,317 $856,048 $1,121,603 $352,400 $964,897 $991,180 $250,106 $217,260 $174,961 $1,000,000
Slide 12: Loss and LAE by Line of Business
Loss and LAE by Line of Business 2022 2021 2020 2019 2018 2017 2016 Reserve accrual actions by line of business: Surety Current accident year loss and LAE accrual 369,982 350,521 399,333 838,904 457,421 438,088 675,142 Prior accident year reserve strengthening (release) (650,000) (50,000) - (756,968
Slide 13: Debt Outstanding
Debt Outstanding $10.0 $9.0 $8.0 Term Loan Mortgage Note $7.0 (Amounts In Millions) $6.0 $8.3 $5.0 $10.0 $6.7 $7.0 $8.6 $5.8 $4.0 $7.1 $7.2 $4.8 $3.0 $3.2 $2.0 $1.5 $1.4 $1.0 $1.3 $1.2 $1.1 $1.1 $1.0 $0.9 $0.9 $0.8 $0.0 $- 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 20
Slide 14: Investment Income
Investment Income 3,000,000 2,479,461 2,500,000 2,301,505 2,211,885 2,125,989 1,966,733 2,000,000 1,916,818 1,766,583 1,808,424 1,720,777 1,471,469 1,500,000 1,000,000 500,000 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Est. 2023 – ACMAT Corporation 13
Slide 15: Forward-Looking Statements and use of Non-GAAP Measures
Forward-Looking Statements and use of Non-GAAP Measures ACMAT Corporation, 2023 This presentation includes financial results with respect to adjusted operating income, and adjusted earnings per share, which are non-GAAP financial measures. Non-GAAP financial measures should be viewed as supplementin