ATLANTIC AMERICAN CORP — Director's Dealing 2007

May 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ATLANTIC AMERICAN CORP (AAME)
CIK: 0000008177
Period of Report: 2007-05-07

Reporting Person: ROBINSON HARRIETT J (Director, 10% Owner, Trustee under Rule 16a-8)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-07	Common Stock	P	1000	$2.68	Acquired	617838	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-07	Option to Buy	$2.68	D	1000	Disposed	2007-05-07	Cmn Stk (1000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6720	Direct
Common Stock	17686	Indirect
Common Stock	3561659	Indirect
Common Stock	3953256	Indirect
Common Stock	4086792	Indirect
Common Stock	2125549	Indirect

Footnotes

F1: Mrs. Robinson also has a direct ownership of 6720 shares owned jointly with her grandson.

F2: Mrs. Robinson also has an indirect ownership interest in 17686 shares held by spouse in a 401(k) Plan based on the most recent plan statement, for which Mrs. Robinson expressly disclaims beneficial ownership of such securities.

F3: Mrs. Robinson also has an indirect ownership interest in 3490144 shares owned by Gulf Capital Services for which her spouse individually holds a 24% interest in the Partnership, with the remaining partnerships held in equal shares by Trust for the benefit of the reporting person's daughters, with the reporting person as Trustee. On February 22, 2007, the Company declared a stock dividend payable to all holders of record of Series D Preferred Stock of record on March 15, 2007, of 0.61233 shares of common stock for each share of Series D Preferred Stock outstanding.

F4: Mrs. Robinson also has an indirect ownership interest in 3953256 shares held by self as Trustee for daughter, Robin Robinson, securities held directly by Trust, for which Mrs. Robinson expressly disclaims beneficial ownership of such securities.

F5: Mrs. Robinson also has an indirect ownership interest in 4086792 shares held by self as Trustee for daughter, Jill Robinson, securities held directly by Trust, for which Mrs. Robinson expressly disclaims beneficial ownership of such securities.

F6: Mrs. Robinson also has an indirect ownership interest in 2124422 shares, of which 877720 shares are held by spouse; 946702 shares held by Delta Life Ins. Co.; and, 300000 shares are held by Delta Fire & Casualty Ins. Co., all of which Mrs. Robinson expressly disclaims any beneficial ownership of such securities.