*11508202220100102*

PROPERTY AND CASUALTY COMPANIES-ASSOCIATION EDITION

QUARTERLY STATEMENT

AS OF JUNE 30, 2022

OF THE CONDITION AND AFFAIRS OF THE

First Acceptance Insurance Company of Georgia, Inc.

NAIC Group Code

3362

,

3362

NAIC Company Code

11508

Employer's ID Number

75-3060573

(Current Period)

(Prior Period)

Organized under the Laws of Country of Domicile Incorporated/Organized Statutory Home Office

Georgia

, State of Domicile or Port of Entry

Georgia

United States

09/19/2002

Commenced Business

10/03/2002

4290 Bells Ferry Road, Suite 142

,

Kennesaw, GA, US 30144

(Street and Number)

(City or Town, State, Country and Zip Code)

Main Administrative Office

3813 Green Hills Village Drive

Nashville, TN, US 37215

615-327-4888

(Street and Number)

(City or Town, State, Country and Zip Code)

(Area Code) (Telephone Number)

Mail Address

3813 Green Hills Village Drive

,

Nashville, TN, US 37215

(Street and Number or P.O. Box)

(City or Town, State, Country

and Zip Code)

Primary Location of Books and Records

3813 Green Hills Village Drive

Nashville, TN, US 37215

615-327-4888

(Street and Number)

(City or Town, State, Country and Zip Code)

(Area Code) (Telephone Number)

Internet Web Site Address

N/A

Statutory Statement Contact

Michael John Bodayle

615-844-2907

(Name)

(Area Code) (Telephone Number) (Extension)

mbodayle@facins.com

615-844-2806

(E-Mail Address)

(Fax Number)

OFFICERS

Name

Title

Name

Title

Larry Emmett Willeford

,

President

Michael John Bodayle

,

Treasurer

Michael John Bodayle

,

Secretary

,

OTHER OFFICERS

,

,

DIRECTORS OR TRUSTEES

Larry Emmett Willeford

Michael John Bodayle

Christopher Patrick Wills

State of

Tennessee

County of

Davidson

ss

The officers of this reporting entity being duly sworn, each depose and say that they are the described officers of said reporting entity, and that on the reporting period stated above, all of the herein described assets were the absolute property of the said reporting entity, free and clear from any liens or claims thereon, except as herein stated, and that this statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to, is a full and true statement of all the assets and liabilities and of the condition and affairs of the said reporting entity as of the reporting period stated above, and of its income and deductions therefrom for the period ended, and have been completed in accordance with the NAIC Annual Statement Instructions and Accounting Practices and Procedures manual except to the extent that: (1) state law may differ; or, (2) that state rules or regulations require differences in reporting not related to accounting practices and procedures, according to the best of their information, knowledge and belief, respectively. Furthermore, the scope of this attestation by the described officers also includes the related corresponding electronic filing with the NAIC, when required, that is an exact copy (except for formatting differences due to electronic filing) of the enclosed statement. The electronic filing may be requested by various regulators in lieu of or in addition to the enclosed statement.

Larry Emmett Willeford

Michael John Bodayle

Michael John Bodayle

President

Treasurer

Secretary

a. Is this an original filing?

Yes [X] No [ ]

Subscribed and sworn to before me this

b. If no:

day of

August, 2022

1.

State the amendment number

2.

Date filed

3. Number of pages attached

Jennifer L. Johnson, Director-Operations Services

March 7, 2023

STATEMENT AS OF JUNE 30, 2022 OF THE First Acceptance Insurance Company of Georgia, Inc.

ASSETS

Current Statement Date

4

1

2

3

December 31

Net Admitted Assets

Prior Year Net

Assets

Nonadmitted Assets

(Cols. 1 - 2)

Admitted Assets

1.

Bonds

40,280,580

40,280,580

33,499,462

2.

Stocks:

2.1

Preferred stocks

3,171,276

3,171,276

2,750,000

2.2

Common stocks

1,820,717

1,820,717

1,665,000

3.

Mortgage loans on real estate:

3.1

First liens

0

0

3.2

Other than first liens

0

0

4. Real estate:

4.1 Properties occupied by the company (less

$

encumbrances)

0

0

4.2 Properties held for the production of income

(less $

encumbrances)

0

0

4.3 Properties held for sale (less

$

encumbrances)

0

0

5.

Cash ($

5,416,803 ),

cash equivalents ($

3,538,396

)

and short-term investments ($

0 )

8,955,199

8,955,199

21,069,979

6.

Contract loans (including $

premium notes)

0

0

7.

Derivatives

0

0

0

8.

Other invested assets

0

0

0

9.

Receivables for securities

0

0

10.

Securities lending reinvested collateral assets

0

0

11.

Aggregate write-ins for invested assets

0

0

0

0

12.

Subtotals, cash and invested assets (Lines 1 to 11)

54,227,772

0

54,227,772

58,984,441

13.

Title plants less $

charged off (for Title insurers

only)

0

0

14.

Investment income due and accrued

162,754

162,754

164,640

15.

Premiums and considerations:

15.1 Uncollected premiums and agents' balances in the course of

collection

0

0

241,692

15.2 Deferred premiums, agents' balances and installments booked but

deferred and not yet due (including $

earned

but unbilled premiums)

17,917,975

17,917,975

15,189,121

15.3 Accrued retrospective premiums ($

) and

contracts subject to redetermination ($

)

0

0

16.

Reinsurance:

16.1 Amounts recoverable from reinsurers

10,347,926

10,347,926

3,676,555

16.2 Funds held by or deposited with reinsured companies

0

0

16.3 Other amounts receivable under reinsurance contracts

0

0

17.

Amounts receivable relating to uninsured plans

0

0

18.1 Current federal and foreign income tax recoverable and interest thereon

0

0

18.2 Net deferred tax asset

2,419,518

1,445,077

974,441

974,441

19.

Guaranty funds receivable or on deposit

0

0

20.

Electronic data processing equipment and software

0

0

21.

Furniture and equipment, including health care delivery assets

($

)

0

0

22.

Net adjustment in assets and liabilities due to foreign exchange rates

0

0

23.

Receivables from parent, subsidiaries and affiliates

4,962,768

4,962,768

0

24.

Health care ($

) and other amounts receivable

0

0

25.

Aggregate write-ins for other-than-invested assets

17,330

17,329

1

0

26.

Total assets excluding Separate Accounts, Segregated Accounts and

Protected Cell Accounts (Lines 12 to 25)

90,056,043

1,462,406

88,593,637

79,230,890

27.

From Separate Accounts, Segregated Accounts and Protected

Cell Accounts

0

0

28.

Total (Lines 26 and 27)

90,056,043

1,462,406

88,593,637

79,230,890

DETAILS OF WRITE-INS

1101.

0

0

1102.

0

0

1103.

0

0

1198.

Summary of remaining write-ins for Line 11 from overflow page

0

0

0

0

1199.

Totals (Lines 1101 through 1103 plus 1198) (Line 11 above)

0

0

0

0

2501.

Prepaid Expenses

968

968

0

0

2502.

Due from Vendors

16,361

16,361

0

0

2503.

Rounding

1

1

0

2598.

Summary of remaining write-ins for Line 25 from overflow page

0

0

0

0

2599.

Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)

17,330

17,329

1

0

2

STATEMENT AS OF JUNE 30, 2022 OF THE First Acceptance Insurance Company of Georgia, Inc.

LIABILITIES, SURPLUS AND OTHER FUNDS

1

2

Current

December 31,

Statement Date

Prior Year

1.

Losses (current accident year $

9,875,000 )

20,009,539

20,801,431

2.

Reinsurance payable on paid losses and loss adjustment expenses

11,800,014

4,099,834

3.

Loss adjustment expenses

4,876,712

5,272,713

4.

Commissions payable, contingent commissions and other similar charges

0

0

5.

Other expenses (excluding taxes, licenses and fees)

114,715

99,338

6.

Taxes, licenses and fees (excluding federal and foreign income taxes)

2,133,952

1,349,437

7.1Current federal and foreign income taxes (including $

on realized capital gains (losses))

0

0

7.2 Net deferred tax liability

0

8.

Borrowed money $

and interest thereon $

0

9.

Unearned premiums (after deducting unearned premiums for ceded reinsurance of $

21,394,176 and

including warranty reserves of $

and accrued accident and health experience rating refunds

including $

for

medical loss ratio rebate per the Public Health Service Act)

22,601,947

17,719,062

10.

Advance premium

65,644

78,198

11.

Dividends declared and unpaid:

11.1 Stockholders

0

11.2 Policyholders

0

12.

Ceded reinsurance premiums payable (net of ceding commissions)

0

13.

Funds held by company under reinsurance treaties

0

14.

Amounts withheld or retained by company for account of others

0

15.

Remittances and items not allocated

0

16.

Provision for reinsurance (including $

certified)

0

17.

Net adjustments in assets and liabilities due to foreign exchange rates

0

18.

Drafts outstanding

0

19.

Payable to parent, subsidiaries and affiliates

121,208

1,429,480

20.

Derivatives

0

0

21.

Payable for securities

0

22.

Payable for securities lending

0

23.

Liability for amounts held under uninsured plans

0

24.

Capital notes $

and interest thereon $

0

25.

Aggregate write-ins for liabilities

79,735

74,565

26.

Total liabilities excluding protected cell liabilities (Lines 1 through 25)

61,803,466

50,924,058

27.

Protected cell liabilities

0

28.

Total liabilities (Lines 26 and 27)

61,803,466

50,924,058

29.

Aggregate write-ins for special surplus funds

0

0

30.

Common capital stock

1,500,000

1,500,000

31.

Preferred capital stock

0

32.

Aggregate write-ins for other than special surplus funds

0

0

33.

Surplus notes

0

34.

Gross paid in and contributed surplus

35,866,573

35,866,573

35.

Unassigned funds (surplus)

(10,576,402)

(9,059,741)

36.

Less treasury stock, at cost:

36.1

shares common (value included in Line 30

$

)

0

36.2

shares preferred (value included in Line 31

$

)

0

37.

Surplus as regards policyholders (Lines 29 to 35, less 36)

26,790,171

28,306,832

38.

Totals (Page 2, Line 28, Col. 3)

88,593,637

79,230,890

DETAILS OF WRITE-INS

2501.

Unclaimed Checks

79,735

74,565

2502.

Rounding

0

2503.

0

2598.

Summary of remaining write-ins for Line 25 from overflow page

0

0

2599.

Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)

79,735

74,565

2901.

0

2902.

0

2903.

0

2998.

Summary of remaining write-ins for Line 29 from overflow page

0

0

2999.

Totals (Lines 2901 through 2903 plus 2998) (Line 29 above)

0

0

3201.

Rounding

0

3202.

0

3203.

0

3298.

Summary of remaining write-ins for Line 32 from overflow page

0

0

3299.

Totals (Lines 3201 through 3203 plus 3298) (Line 32 above)

0

0

3

STATEMENT AS OF JUNE 30, 2022 OF THE First Acceptance Insurance Company of Georgia, Inc.

STATEMENT OF INCOME

1

2

3

Current Year

Prior Year

Prior Year Ended

to Date

to Date

December 31

1.

Premiums earned:

UNDERWRITING INCOME

1.1

Direct (written $

28,964,380

)

25,373,034

28,172,098

53,705,071

1.2

Assumed (written $

33,637,153 )

28,754,170

29,842,096

58,420,282

1.3

Ceded (written $

28,964,380

)

25,373,034

28,172,098

53,705,071

1.4

Net (written $

33,637,153

)

28,754,170

29,842,096

58,420,282

2.

DEDUCTIONS:

Losses incurred (current accident year $

17,247,000 ):

2.1 Direct

17,600,842

14,993,636

33,150,711

2.2 Assumed

18,759,583

15,644,037

35,230,426

2.3 Ceded

17,600,842

14,993,636

33,150,711

3.

2.4 Net

18,759,583

15,644,037

35,230,426

Loss adjustment expenses incurred

3,355,145

4,110,941

8,112,353

4.

Other underwriting expenses incurred

10,826,723

10,489,441

20,831,436

5.

Aggregate write-ins for underwriting deductions

(1)

(1)

2

6.

Total underwriting deductions (Lines 2 through 5)

32,941,450

30,244,418

64,174,217

7.

Net income of protected cells

0

0

8.

Net underwriting gain (loss) (Line 1 minus Line 6 + Line 7)

(4,187,280)

(402,322)

(5,753,935)

9.

Net investment income earned

INVESTMENT INCOME

644,856

353,073

1,003,285

10.

Net realized capital gains (losses) less capital gains tax of $

327,719

(3,870)

(132,957)

11.

Net investment gain (loss) (Lines 9 + 10)

972,575

349,203

870,328

12.

OTHER INCOME

Net gain or (loss) from agents' or premium balances charged off

13.

(amount recovered $

amount charged off $

)

0

0

Finance and service charges not included in premiums

1,951,534

1,913,542

3,742,199

14.

Aggregate write-ins for miscellaneous income

0

0

0

15.

Total other income (Lines 12 through 14)

1,951,534

1,913,542

3,742,199

16.

Net income before dividends to policyholders, after capital gains tax and before all other federal

17.

and foreign income taxes (Lines 8 + 11 + 15)

(1,263,171)

1,860,423

(1,141,408)

Dividends to policyholders

0

0

18.

Net income, after dividends to policyholders, after capital gains tax and before all other federal

19.

and foreign income taxes (Line 16 minus Line 17)

(1,263,171)

1,860,423

(1,141,408)

Federal and foreign income taxes incurred

0

0

20.

Net income (Line 18 minus Line 19)(to Line 22)

(1,263,171)

1,860,423

(1,141,408)

21.

CAPITAL AND SURPLUS ACCOUNT

Surplus as regards policyholders, December 31 prior year

28,306,832

29,604,594

29,604,594

22.

Net income (from Line 20)

(1,263,171)

1,860,423

(1,141,408)

23.

Net transfers (to) from Protected Cell accounts

0

0

24.

Change in net unrealized capital gains or (losses) less capital gains tax of

25.

$

(496,009)

303,334

365,265

Change in net unrealized foreign exchange capital gain (loss)

0

0

26.

Change in net deferred income tax

0

45,487

285,719

27.

Change in nonadmitted assets

242,517

86,838

(807,336)

28.

Change in provision for reinsurance

0

0

29.

Change in surplus notes

0

0

30.

Surplus (contributed to) withdrawn from protected cells

0

0

31.

Cumulative effect of changes in accounting principles

0

0

32.

Capital changes:

32.1

Paid in

0

0

32.2

Transferred from surplus (Stock Dividend)

0

0

33.

32.3

Transferred to surplus

0

0

Surplus adjustments:

33.1

Paid in

0

0

33.2

Transferred to capital (Stock Dividend)

0

0

34.

33.3

Transferred from capital

0

0

Net remittances from or (to) Home Office

0

0

35.

Dividends to stockholders

0

0

36.

Change in treasury stock

0

0

37.

Aggregate write-ins for gains and losses in surplus

2

(2)

(2)

38.

Change in surplus as regards policyholders (Lines 22 through 37)

(1,516,661)

2,296,080

(1,297,762)

39.

Surplus as regards policyholders, as of statement date (Lines 21 plus 38)

26,790,171

31,900,674

28,306,832

0501.

DETAILS OF WRITE-INS

Rounding

(1)

(1)

2

0502.

0

0

0503.

0598.

Summary of remaining write-ins for Line 5 from overflow page

0

0

0

0599.

TOTALS (Lines 0501 through 0503 plus 0598) (Line 5 above)

(1)

(1)

2

1401.

Rounding

0

0

1402.

0

0

1403.

0

0

1498.

Summary of remaining write-ins for Line 14 from overflow page

0

0

0

1499.

TOTALS (Lines 1401 through 1403 plus 1498) (Line 14 above)

0

0

0

3701.

Rounding

2

(2)

(2)

3702.

0

0

3703.

0

0

3798.

Summary of remaining write-ins for Line 37 from overflow page

0

0

0

3799.

TOTALS (Lines 3701 through 3703 plus 3798) (Line 37 above)

2

(2)

(2)

4

STATEMENT AS OF JUNE 30, 2022 OF THE First Acceptance Insurance Company of Georgia, Inc.

CASH FLOW

1

2

3

Current Year

Prior Year

Prior Year Ended

To Date

To Date

December 31

1.

Cash from Operations

Premiums collected net of reinsurance

31,137,339

30,735,185

60,378,122

2.

Net investment income

475,619

506,127

1,258,438

3.

Miscellaneous income

1,951,534

1,913,542

3,742,199

4.

Total (Lines 1 to 3)

33,564,492

33,154,854

65,378,759

5.

Benefit and loss related payments

18,522,666

16,207,192

35,477,206

6.

Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts

0

0

0

7.

Commissions, expenses paid and aggregate write-ins for deductions

13,777,976

13,515,802

28,675,713

8.

Dividends paid to policyholders

0

0

0

9.

Federal and foreign income taxes paid (recovered) net of $

tax on capital

10.

gains (losses)

0

0

0

Total (Lines 5 through 9)

32,300,642

29,722,994

64,152,919

11.

Net cash from operations (Line 4 minus Line 10)

1,263,850

3,431,860

1,225,840

12.

Cash from Investments

Proceeds from investments sold, matured or repaid:

12.1

Bonds

2,158,279

2,109,075

7,623,841

12.2

Stocks

3,877,744

0

0

12.3

Mortgage loans

0

0

0

12.4

Real estate

0

0

0

12.5

Other invested assets

0

0

0

12.6

Net gains or (losses) on cash, cash equivalents and short-term investments

0

0

0

12.7

Miscellaneous proceeds

0

0

1

13.

12.8

Total investment proceeds (Lines 12.1 to 12.7)

6,036,023

2,109,075

7,623,842

Cost of investments acquired (long-term only):

13.1

Bonds

8,768,758

0

2,030

13.2

Stocks

4,622,543

0

0

13.3

Mortgage loans

0

0

0

13.4

Real estate

0

0

0

13.5

Other invested assets

0

0

0

13.6

Miscellaneous applications

2

0

0

14.

13.7

Total investments acquired (Lines 13.1 to 13.6)

13,391,302

0

2,030

Net increase (or decrease) in contract loans and premium notes

0

0

0

15.

Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)

(7,355,279)

2,109,075

7,621,812

16.

Cash from Financing and Miscellaneous Sources

Cash provided (applied):

16.1

Surplus notes, capital notes

0

0

0

16.2

Capital and paid in surplus, less treasury stock

0

0

0

16.3

Borrowed funds

0

0

0

16.4

Net deposits on deposit-type contracts and other insurance liabilities

0

0

16.5

Dividends to stockholders

0

0

0

16.6

Other cash provided (applied)

(6,023,351)

(603,384)

4,479,062

17.

Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5

plus Line 16.6)

(6,023,351)

(603,384)

4,479,062

18.

RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)

(12,114,780)

4,937,551

13,326,714

19.

Cash, cash equivalents and short-term investments:

19.1

Beginning of year

21,069,979

7,743,265

7,743,265

19.2

End of period (Line 18 plus Line 19.1)

8,955,199

12,680,817

21,069,979

5

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First Acceptance Corporation published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 19:35:06 UTC.