Acmat Corp. · OTC:ACMT
Acmat — Shareholder Meeting (June 2022)
16 slides from Acmat's shareholder meeting presentation, Jun 23, 2022
Slide 1: Annual Shareholders' Meeting
ACMAT Corporation Annual Shareholders’ Meeting June 23, 2022 2022 – ACMAT Corporation
Slide 2: Financial Position – December 31
Financial Position – December 31 As of December 31, As of December 31, 2021 2020 2021 2020 Assets: Liabilities and Stockholders' Equity Investments Reserves for losses and loss adjustment expenses $ 11,095,783 $ 11,747,594 Fixed maturities $ 28,898,556 $ 33,156,912 Unearned premium 482,057 355,627 E
Slide 3: Operating Income – December 31
Operating Income – December 31 Year Ended December 31, 2021 2020 Revenues Premiums $ 742,407 $ 825,390 Net investment income 1,471,469 1,833,981 Realized capital gains 694,947 354,045 Unrealized capital gains (losses) on equity securities 294,830 (127,258) Fee income 104,226 136,021 Total revenues 3
Slide 4: Operating Income, Adjusted – December 31
Operating Income, Adjusted – December 31 Year Ended Year Ended December 31, December 31, 2021 2020 2021 2020 Revenues: Earnings per share: Revenues $ 3,307,879 $ 3,022,179 Net earnings per share attributable to Common and Class A shareholders, basic and diluted $ 1.57 $ 0.89 Deduct: Unrealized capit
Slide 5: First Quarter 2022 Results
First Quarter 2022 Results Quarter Ended March 31, 2022 2021 Net (losses) earnings $ (701,754) $ 429,521 Revenues $ (63,227) $ 1,137,676 Net unrealized capital (losses) gains on equity securities, included in Revenues $ (898,090) $ 271,237 Revenues, controllable $ 834,863 $ 866,439 (Losses) earnings
Slide 6: Operating Income, Adjusted – March 31
Operating Income, Adjusted – March 31 Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Revenues: Earnings per share: Revenues $ (63,227) $ 1,137,676 Net (losses) earnings per share attributable to Common and Class A shareholders, basic and diluted $ (0.91) $ 0.56 Deduct:
Slide 7: 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 1,121,603 991,180 964,897 1,000,000 934,317 812,000 856,048 500,000 - 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Est. 2022 – ACMAT Corporation 6
Slide 8: Paid Losses to Written Premium
Paid Losses to Written Premium $4,000,000 $3,405,052 Direct Written Premium $3,053,108 Paid Loss $1,962,822 $3,000,000 $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 $1,121,603 $856,048 $352,400 $964,897 $991,180 $250,106 $217,260 $174,961 $1,000,000
Slide 9: 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 1,029,173 875,374 880,014 1,000,000 390,725 (3,000,000) - (147,453) (93,831) (459,493) (238,683
Slide 10: Realized Capital Gain (Loss) - Historical
Realized Capital Gain (Loss) - Historical 1,500,000 1,261,839 1,174,081 1,075,896 995,071 1,000,000 1,000,000 939,631 866,793 682,946 677,329 694,947 421,443 500,000 226,513 195,325 0 (500,000) (570,563) (1,000,000) 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 2022 2022 – ACMA
Slide 11: Realized Capital Gain (Loss) - Historical
Realized Capital Gain (Loss) - Historical 2,500,000 Change in Unrealized Capital Gains and Losses 1,261,839 Realized Capital Gain (Loss) 1,500,000 1,174,081 1,075,896 995,071 939,631 866,793 682,946 677,329 694,947 226,513 421,443 500,000 195,325 (500,000) (570,563) (227,833) (2,011,496) (1,500,000)
Slide 12: Change in Invested Asset Values
Change in Invested Asset Values 01/01/2022 01/31/2022 02/28/2022 03/31/2022 04/30/2022 05/31/2022 06/16/2022 0% -2% -3% -5% -5% DJIA -8% -8% -11% -10% Nasdaq -15% S&P 500 -20% Blmbg US Aggr. Fixed Income -25% Percentage changes are cumulative year-to-date amounts ACSTAR based on the change in value
Slide 13: Investment Income
Investment Income 3,000,000 2022 core asset purchases feature a weighted average yield of 4.7% 2,479,461 2,500,000 2,301,505 2,211,885 2,125,989 1,966,733 1,916,818 2,000,000 1,766,583 1,635,617 1,471,469 1,500,000 1,000,000 500,000 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 Est. 2022 – ACMAT Co
Slide 14: Historical Net Income – Excluding Unrealized
Historical Net Income – Excluding Unrealized 1,200,000 975,704 765,778 774,660 796,551 743,540 800,000 727,087 400,000 316,292 - 2015 2016 2017 2018 2019 2020 2021 2022 – ACMAT Corporation 13
Slide 15: Loss and LAE by Line of Business
Loss and LAE by Line of Business 2021 2020 2019 2018 2017 2016 Reserve accrual actions by line of business: Surety Current accident year loss and LAE accrual 350,521 399,333 838,904 457,421 438,088 675,142 Prior accident year reserve strengthening (release) (50,000) - (756,968) (919,691) (551,377) (
Slide 16: Forward-Looking Statements and use of Non-GAAP Measures
Forward-Looking Statements and use of Non-GAAP Measures ACMAT Corporation, 2022 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