21st Century Auto Insurance - 21 Century Car Insurance QuotE

Date: Jan 19, 2005
Contributor: joan smith

ATLANTA--(BUSINESS WIRE)--Jan. 18, 2005--Atlanta based ASSURANCEAMERICA CORPORATION (OCT BB: ASAM.OB) today announced it has acquired the assets of Cannon Insurance Agency in Riverdale (Atlanta), Georgia, a retail insurance agency producing approximately $7.0 million annual premium volume with emphasis on sales of non-standard auto insurance products, for 3.6 million shares of common stock.
In announcing the acquisition, Lawrence (Bud) Stumbaugh, President and CEO of AssuranceAmerica said, "This acquisition will help us reach our goal of $65.0 million of retail premium volume in 2005 and company wide premium volume of $100.0 million."

Steve Speir, former owner of Cannon Insurance Agency, has over twenty (20) years experience in the retail insurance agency business and will continue to run the business for TrustWay under the name Cannon-TrustWay Insurance Agency.

AssuranceAmerica focuses on the non-standard automobile insurance marketplace, primarily in Florida, Georgia and South Carolina. Its principal operating subsidiaries are TrustWay Insurance, which sells personal automobile insurance policies through its 32 retail agencies, AssuranceAmerica Managing General Agency, and AssuranceAmerica Insurance Company.

This press release includes statements that may constitute "forward-looking" statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.





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