Hurricane Charley Will Have Little Impact on Atlantic Mutual’s Financial Results

NEW YORK, NY, September 1, 2004 -- Atlantic Mutual estimates claims related to Hurricane Charley will be less than $3.0 million. The estimate includes claims made to date as well as claims that are likely to be made based on past reporting patterns after hurricanes. The company updates its estimate of losses for the State of Florida every week.

"Our first concern in the case of a disaster is always for our policyholders," says Dan Olmsted, president of Atlantic Mutual. "We have already identified all of the properties we insure that were in the path of the storm, and we have given our independent agents the information they need to call the policyholder instead of waiting for the policyholder to call us. This proactive approach helps us provide superior service as well as control costs, which can increase when policyholders don't report damage quickly." The company also has established a claims center in Florida to swiftly handle all claims.

Despite the severity of the storm, it should not have a material impact on Atlantic Mutual's financial results. The claims related to Hurricane Charley will represent less than 1% of the total claims Atlantic Mutual expects to incur in 2004.

About The Atlantic Companies

The Atlantic Companies, also known as Atlantic Mutual, is a group of diversified financial services companies with a Wall Street heritage dating back to 1842. The group is widely known for the Atlantic Master Plan insurance program, which is designed specifically for affluent individuals and sold through a select group of independent agents. The Atlantic Companies acts as a property-casualty insurer, manages claims for commercial insurance, and helps other business partners target profitable niches in the insurance marketplace. Additional information about The Atlantic Companies and the Atlantic Master Plan can be found at www.atlanticmasterplan.com.


Contact: Peter G. Scott
Corporate Marketing & Communications
973-408-6044