EX-23.1 9 affm-ex231_20141231632.htm EX-23.1

 

 

EXHIBIT 23.1

 

 

 

 

 

 

Consent of Independent Registered Public Accounting Firm

 

 

The Board of Directors and Stockholders

Affirmative Insurance Holdings, Inc.:

 

We consent to the incorporation by reference in the registration statement (No. 333-137938) on Form S-8 of Affirmative Insurance Holdings, Inc. and subsidiaries of our report dated March 31, 2015, with respect to the consolidated balance sheets of Affirmative Insurance Holdings, Inc. and subsidiaries as of December 31, 2014 and 2013, and the related consolidated statements of operations, comprehensive income (loss), stockholders' deficit, and cash flows for each of the years in the three-year period ended December 31, 2014, which report appears in the December 31, 2014 annual report on Form 10-K of Affirmative Insurance Holdings, Inc. and subsidiaries.

 

Our report on the consolidated financial statements dated March 31, 2015 contains an explanatory paragraph that states the consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company’s recent history of recurring losses from operations, its failure to comply with certain financial covenants in the senior secured and subordinated credit facilities, its need to meet debt repayment requirements and its failure to comply with the Illinois Department of Insurance minimum risk-based capital requirements raise substantial doubt about its ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

 

 

/s/  KPMG LLP

 

Dallas, Texas

March 31, 2015