Results of Operations for the Year Ended December 31, 2025 - American Overseas Group Limited Announces Net Income Of $10.8 Million For the Year Ended December 31, 2025

HAMILTON, Bermuda, April 27, 2026 (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 $10.8 million, or $230.44 per diluted share, for the year ended December 31, 2025. This compares to consolidated net income available to common shareholders of $9.4 million, or $200.09 per diluted share, for the year ended December 31, 2024. Book value per weighted share at December 31, 2025 was $1,241.71, an increase from the book value per weighted share of $976.60 at December 31, 2024.

For the three months ended December 31, 2025, net earned property and casualty premiums decreased $2.6 million from $14.3 million a year ago to $11.7 million. For the year ended December 31, 2025, net earned property and casualty premiums decreased $1.6 million from $51.6 million to $50.0 million.

Quarter to Date fee income increased $0.1 million from $6.0 million to $6.1 million and gross written premiums increased $3.9 million, moving from $226.4 million to $230.3 million. Quarter to Date Loss and loss adjustment expenses as a percentage of earned premium decreased from 75.5% to 64.0%.

For the year ended December 31, 2025, fee income increased $1.0 million from $22.1 million a year ago to $23.1 million and gross written premiums increased $71.6 million, moving from $914.7 million to $986.3 million. For both the quarter and the year, direct written premiums were positively impacted by continued expansion of new programs, rate increases, and organic growth in existing programs. Year to Date Loss and loss adjustment expenses as a percentage of earned premium decreased from 64.0% to 57.7%.

For the three months ended December 31, 2025, operating expenses increased $0.1 million from $4.2 million to $4.3 million. For the year ended December 31, 2025, operating expenses increased $0.9 million from $12.9 million to $13.8 million.

As part of its ongoing capital management efforts, the Company will continue to redirect excess capital within the group to debt reduction. In the 4^th quarter of 2025, the Company reduced the outstanding principal balance of its 12% Senior Secured Notes by $1.3 million and year to date the Company reduced the outstanding principal of its 12% and 9% Senior Secured Notes by $4.3 million and $0.7 million respectively, reducing total outstanding debt from $20.8 million to $15.8 million as of December 31, 2025. Additionally, The Company reduced the outstanding principal balance of its 12% Senior Secured Notes by $3.4 million in the 1^st quarter of 2026, reducing total outstanding debt to a balance of $12.4 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. More information can be found at www.aoreltd.com.

American Overseas Group Limited

info@aoreltd.com