The following is management's discussion and analysis of the financial condition and results of operations of Atlantic American Corporation and its subsidiaries for the years ended December 31, 2021 and 2020. Atlantic American is an insurance holding company whose operations are conducted primarily through its insurance subsidiaries: American.
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AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a” of American Southern Insurance Company and its wholly owned and 100% reinsured subsidiary, American Safety Insurance Company. Additionally, AM Best has affirmed the FSR of A- and the Long-Term ICRs of“ a-” of Bankers Fidelity Life Insurance Company and its wholly.
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion should be read in conjunction with our accompanying consolidated financial statements and notes thereto, which appear elsewhere in this document. In this discussion, all dollar amounts are presented in thousands, except share and per share data.
Net income for the quarter ended September 30, 2021 was $24.8 million, or $1.64 per diluted share, compared to net income of $44.7 million, or $2.96 per diluted share, for the comparable 2020 period. Net income for the nine months ended September 30, 2021 was $98.7 million, or $6.58 per diluted share, compared to net income of $85.2 million, or $5.58 per diluted share,.