Citizens Inc Stock Price, News & Analysis

Citizens, Inc. (NYSE: CIA) has announced a new distribution agreement with Amerus Financial Group, enhancing its white-label product offerings. This partnership allows Amerus to market Citizens' life and final expense insurance through the Amerus Silver Shield brand, expanding options for senior clients. The collaboration aims to address the growing demand for affordable insurance solutions tailored for seniors. Both companies are committed to providing high-quality, customized products, capitalizing on their strengths to meet the needs of an underserved market.

Citizens, Inc. (NYSE: CIA) announced a white-label partnership with The Titan Agency to market its new life and final expense insurance products. The collaboration aims to meet the increasing demand for customized insurance solutions. The Titan Life Protector product line will be available through CICA Life Insurance Company of America, enhancing distribution in the Southeast U.S. Titan's existing salesforce and customer service will further bolster Citizen's market presence. This partnership is expected to expand citizen's reach in both the Hispanic market and a broader customer base.

Citizens, Inc. (CIA) reported a net loss of $5.1 million or $0.10 per share in Q3 2022, up from a net loss of $2.8 million in Q3 2021. The loss includes $5.0 million in investment-related losses due to interest rate impacts. However, adjusted operating income improved to $0.2 million, up from a loss of $4.9 million the previous year. Total insurance issued rose 78% to $189.8 million, reflecting successful new product introductions. Claims decreased 3.4%, while net investment income grew to $16.6 million, indicating potential for long-term shareholder value growth.

Security Plan Life Insurance Company, a subsidiary of Citizens, Inc. (NYSE: CIA), has launched its B2B Claims Portal, enhancing service for funeral homes. This portal allows 24/7 access to claims, improving turnaround times and operational efficiency. The service includes a concierge phone line for direct access to the claims department. Initially launched in July as a limited release, it is now fully available to funeral homes across the U.S. VP of Operations, Matt Lewis, expressed optimism for future expansions of the service.

Citizens, Inc. (CIA) reported a net loss of $3.5 million, or $0.07 per share, for Q2 2022, down from a net income of $5.0 million or $0.10 per share in Q2 2021. Adjusted operating income rose to $1.4 million, up from $0.7 million year-over-year. New product sales in Life and Home Service Insurance segments showed strong initial traction. Total insurance issued increased 51% year-over-year to $171.1 million. However, premium revenue fell 1% to $42.2 million. General expenses decreased by 10% year-over-year, but investment losses were significant due to market volatility.

Citizens National Life Insurance Company, a subsidiary of Citizens, Inc. (NYSE: CIA), has announced its expansion into Texas with its Critical Illness Coverage product. Previously launched in Florida, this product allows policyholders to receive direct benefits to cover expenses related to qualifying critical illnesses. Citizens National provides services in English, Spanish, and Portuguese, enhancing customer accessibility. This strategic move aims to broaden policyholder access to essential insurance products, leveraging Citizens, Inc.'s financial stability and technological capabilities.

Citizens, Inc. (CIA) has announced a new share repurchase program, authorizing the buyback of up to $8 million of its Class A common stock. This initiative reflects the Board's confidence in the company's strategic direction and long-term shareholder value. CEO Gerald W. Shields noted an increase in premium revenues for two consecutive quarters, alongside a decline in claims and surrenders. The buyback aims to enhance shareholder value while maintaining flexibility for future investments. The repurchases will be funded through existing cash reserves and are subject to market conditions.

Citizens, Inc. (CIA) reported a Q1 2022 net loss of $1.3 million, improving by $2.2 million from Q1 2021. This performance is attributed to decreased claims and lower expenses. Total claims and surrenders decreased by 7% year-over-year, with renewal premiums up 2% to $36 million. The company's total assets stood at $1.7 billion with no debt, and book value per share was $3.91. The firm emphasizes growth through innovative products and expanding distribution.