Kansas City Life Announces First Quarter 2023 Results
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These results included improvements in premiums, net of reinsurance, and contract charges in the first quarter of 2023 compared to the first quarter of 2022. In addition, investment revenues increased over the prior year, reflecting increases in yields earned on certain investments and higher realized investment gains. In addition, operating expenses and interest credited to policyholder account balances were lower than one year earlier. Conversely, policyholder benefits were higher in the first quarter of 2023 than in the first quarter of 2022. A decrease in death benefits, net of reinsurance, was more than offset by an increase in benefit and contract reserves compared to the prior year.
Condensed Consolidated Income Statement (amounts in thousands, except share data) | |||||
Quarter Ended | |||||
2023 | 2022 | ||||
Revenues | $ | 125,969 | $ | 119,231 | |
Net loss | $ | (3,241) | $ | (7,676) | |
Net loss per share, basic and diluted | $ | (0.33) | $ | (0.79) | |
Dividends paid | $ | 0.14 | $ | 0.27 | |
Average number of shares outstanding | 9,683,414 | 9,683,414 | |||
View original content:https://www.prnewswire.com/news-releases/kansas-city-life-announces-first-quarter-2023-results-301811024.html
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