Kansas City Life Insurance Stock Price, News & Analysis

Kansas City Life Insurance Company (OTCQX: KCLI) announced a quarterly dividend of $0.14 per share on April 24, 2023. This dividend will be distributed on May 10, 2023, to stockholders who are on record by May 4, 2023. The company, established in 1895 and based in Kansas City, Missouri, mainly focuses on providing financial protection through life insurance and annuities, operating across 49 states and the District of Columbia.

Kansas City Life Insurance Company announced the retirement of Board member Nancy Bixby Hudson, effective April 19, 2023. Ms. Hudson, who has served since 1996, expressed her gratitude for the opportunity to serve the company's policyholders and shareholders. She also retired from the board of Old American Insurance Company and has previously served on the board of Sunset Life Insurance Company of America. R. Philip Bixby, Chairman of the Board, thanked her for her leadership over 27 years. Kansas City Life specializes in life insurance and annuities and operates in 49 states and the District of Columbia.

Kansas City Life Insurance Company (KCLI) reported a net loss of $17.3 million ($1.79 per share) for Q4 2022, a notable decline from net income of $13.1 million ($1.36 per share) in Q4 2021. The annual results also reflected a net loss of $16.2 million ($1.67 per share) for 2022, compared to net income of $10.7 million ($1.11 per share) in 2021. Key factors contributing to this downturn included increased operating expenses, primarily due to a $28.4 million legal reserve for a class action lawsuit, and reduced investment gains. However, insurance revenues and net investment income saw improvements.