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Kansas City Life Insurance Company reports developments tied to its life insurance and annuity business. The company, established in 1895, provides financial protection through life insurance and annuity products and operates in 49 states and the District of Columbia. Recurring updates include quarterly operating results, dividend declarations, insurance revenue, investment revenue, policyholder benefits, death and annuity benefit trends, reinsurance effects, policyholder account reserves, and legal accruals or settlements affecting reported earnings.
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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.
The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.14 per share on January 23, 2023. This dividend is set to be payable on February 8, 2023, to shareholders on record as of February 2, 2023. Kansas City Life, operating since 1895, provides financial protection through life insurance and annuities across 49 states and the District of Columbia. For further details, visit www.kclife.com.
Kansas City Life Insurance Company reported a net income of $4.5 million or $0.46 per share for Q2 2022, up $0.2 million from Q2 2021. However, for the first half of 2022, the company faced a net loss of $3.2 million or $0.33 per share, contrasting with $3.6 million in net income in the same period of 2021. Total investment revenues declined in both periods, but there was a decline in policyholder benefits and operating expenses which somewhat offset this negative trend. The company's financial health remains imperative as it operates in 49 states and D.C.
The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.14 per share on July 25, 2022. This dividend will be payable on August 10, 2022, to stockholders who are on record as of August 4, 2022. Established in 1895, Kansas City Life Insurance Company operates in all 49 states and the District of Columbia, primarily offering life insurance and annuities.
Kansas City Life Insurance Company reported a net loss of $7.7 million or $0.79 per share for Q1 2022, compared to a net loss of $0.7 million or $0.07 per share in Q1 2021. The increase in net loss was primarily due to a rise in policyholder benefits, especially death benefits affected by the COVID-19 pandemic. Additionally, amortization of deferred acquisition costs and operating expenses increased, while net investment income and gains declined. However, income tax expense decreased due to a higher pretax loss.
Kansas City Life Insurance Company has announced the election of Walter E. Bixby as President and CEO, succeeding his brother, Philip Bixby, who recently retired. Walter Bixby brings over 40 years of experience within the company, having held several key positions, including Vice Chairman and President of Old American Insurance Company. Kansas City Life, established in 1895, operates in 49 states and the District of Columbia, providing financial protection through life insurance and annuities.
Kansas City Life Insurance Company announces the retirement of R. Philip Bixby as President and CEO, effective April 25, 2022. Bixby, who has been with the company since 1977 and has served as CEO since 1998, will remain as Chairman of the Board. Under his leadership, the company has celebrated 125 years in business and has successfully grown its life insurance and annuity offerings. Bixby expressed pride in the company’s achievements and confidence in its future amid industry challenges.