Welcome to our dedicated page for Citizens news (Ticker: CIA), a resource for investors and traders seeking the latest updates and insights on Citizens stock.
Citizens, Inc. provides life, living benefits and final expense insurance, along with related financial products, to individuals and small businesses in the U.S., Latin America and Asia. Company news centers on quarterly and annual results, direct premiums, renewal premiums, first-year premium trends, insurance in force, book value per Class A share and the performance of its investment portfolio.
Recurring updates also cover Citizens' international U.S. dollar-denominated life insurance business, domestic final expense products, agent-network expansion, product and distribution initiatives, native-language customer offerings, and management participation in investor conferences.
Citizens, Inc. (NYSE: CIA) reported a net loss of ($0.22) per Class A share for 2020 due to one-time expenses triggered by a change-in-control. Excluding these, the loss was ($0.03). Total revenue declined by 5% year-over-year, with first-year premiums in the Life Insurance segment increasing by 15% in Q4 2020 versus Q4 2019. The Foundation Settlement Agreement paves the way for strategic growth. Despite challenges from the pandemic, the company saw improvements in policy issuance and virtual operations.
Citizens, Inc. (NYSE: CIA) announced the dismissal of Colorado litigation and the acquisition of all Class B common stock from the Harold E. Riley Foundation. This move stabilizes the company’s governance, allowing Class A shareholders to elect their directors. The litigation dismissal came after Baylor University and Southwestern Theological Seminary resolved their disputes with the Foundation's trustees. This agreement positions Citizens to refocus on business growth and strategic initiatives while committing to support Baylor and Southwestern through future donations.
Citizens, Inc. (NYSE: CIA) reported Q3 2020 results, revealing a Class A earnings per share decline of $0.20 due to one-time expenses from a recent Change-in-Control. Excluding this, EPS fell by $0.011. However, key metrics showed improvements over Q2 2020, including a 3% revenue increase and a 27% rise in first-year sales. The company also noted a 5% rise in renewal premiums and a significant 157% increase in policies issued. Despite the challenges posed by COVID-19 and Hurricane Laura, Citizens is optimistic about future growth initiatives, aiming to enhance product delivery and customer engagement.
Citizens, Inc. (CIA) reported Q2 2020 results with earnings per share improving by $0.07 compared to Q2 2019. The company faced a net loss of $1.0 million, or $0.02 per share, despite a 3% rise in revenue driven by higher realized gains. Total assets increased by 7% to $1.8 billion, with cash and equivalents rising by 52% to $52 million. The pandemic impacted product sales and claims, particularly in the Life Insurance segment, where first-year premiums dropped by 41%. Operational changes, including virtual sales training, were implemented to adapt to market conditions.
Citizens, Inc. (NYSE: CIA) announced the resignation of Geoffrey Kolander as President and CEO due to a change of control. The Board of Directors has appointed Gerald Shields as interim CEO while searching for a permanent replacement. Kolander played a vital role in the company’s transformation and leadership development over the past four years. He will continue to consult during the transition. Citizens, Inc. focuses on growth through U.S. Dollar-denominated whole life cash value insurance and other financial services.