Atlas Financial Holdings, Inc. Auditor Raises 'Going Concern' Doubt
April 14, 2021
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Atlas Financial Holdings, Inc. filed its 10-K on Apr 15, 2021 for the period ending Dec 31, 2020. In this report its auditor, Baker Tilly, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
Atlas Financial Holdings, Inc. is a financial service holding company. The Companyâs primary business is generating, underwriting and servicing commercial automobile insurance policies in the United States. The Company focuses on a managing general agency (MGA) strategy, primarily through its wholly owned subsidiary, Anchor Group Management, Inc. (AGMI). AGMI focuses on a niche market orientation for the light commercial automobile sector. This sector includes taxi cabs, limousines, livery, full-time transportation network companies (TNC) drivers/operators, and other specialty commercial auto operators. Automobile insurance products provide insurance coverage in three major areas: liability, accident benefits and physical damage. The Company operates in one business segment: the Managing General Agency segment. The Companyâs subsidiaries include UBI Holdings Inc. (UBI Holdings), optOn Digital IP Inc. (OOIP) and optOn Insurance Agency Inc.