Citizens Inc Stock Price, News & Analysis

Citizens, Inc. (NYSE: CIA) reported a Q3 2021 net loss of $0.06 per share, improving by $0.10 year-over-year. Total revenues increased by 3% to $61.6 million, bolstered by higher realized gains. While operating expenses dropped 46% due to lower Change-in-Control costs, higher hurricane losses and COVID-19 related mortality impacted earnings. The Life Insurance segment saw a 19% rise in issued policies, totaling $64 million, although premium revenues were affected by Hurricane Ida and increased death claims. The company holds total investments of $1.6 billion and boasts no debt.

Citizens, Inc. (NYSE: CIA) reported Q2 2021 earnings of $0.10 per share, a $0.12 increase year-over-year, driven by realized gains and premium revenue growth. Revenue rose 9%, with significant increases in first-year premiums—up 53% overall. Notable growth was seen in the Home Services segment, which grew 30%. However, total stockholders' equity decreased to $269,125 from $289,793 year-over-year. The company continues to focus on product innovation and improving distribution capabilities.

Citizens, Inc. (NYSE: CIA) has appointed three new board members as of August 1, 2021, reinforcing its commitment to diversity and expertise in the insurance sector. The new members include Cindy Davis, Keith Morgan, and Mary Taylor, each bringing significant experience relevant to the company's strategic objectives. Davis specializes in underwriting, Morgan in legal and regulatory matters, while Taylor has a strong background in finance and operations. The board now consists of 10 members with 20% being diverse, aimed at enhancing company oversight and stakeholder service.

Citizens, Inc. (NYSE: CIA) has appointed Sheryl Kinlaw as Chief Legal Officer, effective immediately. Kinlaw, who has over 20 years of legal experience, previously served as Interim Chief Legal Officer since April 2021 and as outside counsel since March 2020. Her role encompasses overseeing legal, regulatory, governance, and compliance matters. Vice-Chairman Gerald W. Shields expressed confidence in her ability to aid the company's growth strategy. Citizens, Inc. focuses on U.S. Dollar-denominated whole life insurance policies and related financial products.

Citizens, Inc. (NYSE: CIA) announced the launch of a new Whole Life insurance product, Security Plan Plus, under its subsidiary Security Plan Life Insurance Company (SPLIC). This product aims to address the needs of middle-income consumers in Louisiana, Mississippi, and Arkansas. Security Plan Plus promises a streamlined application process and competitive features, enhancing financial security for families. The company's focus remains on expanding its offerings to meet evolving market demands, indicating a commitment to growth in the Home Service market.

Citizens, Inc. (NYSE: CIA) announced that shareholders approved its say-on-pay proposal for the first time in three years, with 76% voting in favor. This decision reflects the Company’s commitment to enhance its executive compensation program and align it with shareholder expectations. The expanded pay-for-performance program now applies from executives to department directors and emphasizes four key business goals: first-year sales targets for markets, policy retention goals, execution milestones on the business roadmap, and financial targets for net earnings improvements.

Citizens, Inc. (NYSE: CIA) reported a Q1 2021 net loss of ($0.07) per share, consistent with the prior year, amidst a challenging COVID-19 environment. Revenue remained flat due to lower renewal premiums, although new policies issued surged by 22% reflecting improved operational strategies and agent recruitment.

The company announced regulatory approval to purchase Class B shares, restoring control to one class of voting shares. While claims and surrenders rose 16% due to increased death claims, general expenses saw a 1% decrease, highlighting management's focus on growth and compliance.

Citizens, Inc. (CIA) announced regulatory approval on April 12, 2021, allowing the Harold E. Riley Foundation to transfer its Class B common stock back to the company. The transaction, finalized on March 5, 2021, involved a purchase price of $9,090,463.80. As a result, all Class B shares were reclassified as treasury stock, ensuring only Class A shares remain voting shares. This shift marks a significant change, as for the first time in over 30 years, Citizens is no longer a controlled company, empowering its leaders to focus on growth and shareholder interests.

Citizens National Life Insurance Company (a subsidiary of Citizens, Inc., NYSE: CIA) has entered the Florida insurance market, launching its Whole Life insurance product tailored for Spanish and Portuguese speakers. The Longevity Max™ product combines life insurance with savings protection, offering conservative returns. With over 50 years in the insurance sector, CNLIC aims to serve Florida's Hispanic community, leveraging its vast experience in Latin America. President Robert Mauldin emphasizes the company's commitment to delivering reliable financial security and outstanding service.