CITIZENS, INC. Schedule 13G filing: Continental General Insurance Company, Continental Insurance Group, Ltd., Continental General Holdings LLC and Michael Gorzynski report collective beneficial ownership of 2,538,719 shares of Class A Common Stock, representing approximately 5.0% of outstanding shares as of the filing. The filing cites 50,299,741 Shares outstanding as of March 6, 2026 from the issuer's Form 10-K.
Positive
None.
Negative
None.
Insights
Passive 13G disclosure of ~5% stake by a related group.
The filing shows a reported beneficial position of 2,538,719 shares (about 5.0%) held through affiliated entities and a related individual, with the 50,299,741 Shares outstanding as of March 6, 2026 used to calculate percentage ownership.
Registration status and cash‑flow treatment are not stated; subsequent filings would show if any change to active investor status or plans occurs.
Structure indicates layered ownership via affiliated entities and a manager.
The disclosure attributes the same 2,538,719 shares across CGIC, CIG, CGH and Mr. Gorzynski based on ownership/control relationships, consistent with group reporting conventions and the attached Joint Filing Agreement dated March 25, 2026.
Holding is notable for disclosure thresholds but routine for a passive 13G; any future changes in voting/disposition power should appear in amended filings.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CITIZENS, INC.
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
174740100
(CUSIP Number)
03/18/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
174740100
1
Names of Reporting Persons
CONTINENTAL GENERAL INSURANCE CO
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
TEXAS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,538,719.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,538,719.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,538,719.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.0 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP Number(s):
174740100
1
Names of Reporting Persons
Continental Insurance Group, Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,538,719.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,538,719.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,538,719.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.0 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP Number(s):
174740100
1
Names of Reporting Persons
Continental General Holdings LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MICHIGAN
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,538,719.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,538,719.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,538,719.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.0 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
174740100
1
Names of Reporting Persons
Gorzynski Michael
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,538,719.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,538,719.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,538,719.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CITIZENS, INC.
(b)
Address of issuer's principal executive offices:
11815 ALTERRA PKWY, SUITE 1500, AUSTIN, TX 78758
Item 2.
(a)
Name of person filing:
The names of the persons filing this statement on Schedule 13G (collectively, the "Reporting Persons") are:
Continental General Insurance Company ("CGIC"),
Continental Insurance Group, Ltd. ("CIG"),
Continental General Holdings LLC ("CGH"), and
Michael Gorzynski ("Mr. Gorzynski").
(b)
Address or principal business office or, if none, residence:
The address of the principal office for Mr. Gorzynski is 595 Madison Avenue, 30th Floor, New York, NY 10022. The principal business address for each of CGIC, CIG and CGH is 11001 Lakeline Blvd., Ste. 120, Austin, TX 78717.
(c)
Citizenship:
CGH is a Michigan limited liability company. CIG is a Delaware corporation. CGIC is a Texas domiciled life and health insurance company. Mr. Gorzynski is a citizen of the United States and Poland.
(d)
Title of class of securities:
Class A Common Stock
(e)
CUSIP Number(s):
174740100
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
As of the date hereof:
(i) CGIC directly beneficially owned 2,538,719 shares of Class A Common Stock of the Issuer (the "Shares").
(ii) As the sole owner of CGIC, CIG may be deemed to beneficially own the 2,538,719 Shares beneficially owned by CGIC.
(iii) As the sole owner of CIG, CGH may be deemed to beneficially own the 2,538,719 Shares beneficially owned by CGIC.
(iv) As Manager of CGH, Mr. Gorzynski may be deemed to beneficially own the 2,538,719 Shares beneficially owned by CGIC.
(b)
Percent of class:
The following percentages are based on 50,299,741 Shares outstanding as of March 6, 2026, which is the total number of Shares outstanding as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 12, 2026.
As of the date hereof:
(i) CGIC may be deemed to own approximately 5.0% of the outstanding Shares;
(ii) CIG may be deemed to beneficially own approximately 5.0% of the outstanding Shares;
(iii) CGH may be deemed to beneficially own approximately 5.0% of the outstanding Shares; and
(iv) Mr. Gorzynski may be deemed to beneficially own approximately 5.0% of the outstanding Shares.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Cover Pages Items 5-9.
(ii) Shared power to vote or to direct the vote:
See Cover Pages Items 5-9.
(iii) Sole power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
(iv) Shared power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Exhibit 99.1.
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
CONTINENTAL GENERAL INSURANCE CO
Signature:
/s/ Michael Gorzynski
Name/Title:
Michael Gorzynski, Executive Chairman
Date:
03/25/2026
Continental Insurance Group, Ltd.
Signature:
/s/ Michael Gorzynski
Name/Title:
Michael Gorzynski, Chairman & President
Date:
03/25/2026
Continental General Holdings LLC
Signature:
/s/ Michael Gorzynski
Name/Title:
Michael Gorzynski, Manager
Date:
03/25/2026
Gorzynski Michael
Signature:
/s/ Michael Gorzynski
Name/Title:
Michael Gorzynski
Date:
03/25/2026
Exhibit Information
99.1 - Joint Filing Agreement, dated March 25, 2026.
What stake does Continental General Insurance report in CITIZENS, INC. (CIA)?
Continental General Insurance reports beneficial ownership of 2,538,719 shares, representing approximately 5.0% of Class A Common Stock based on 50,299,741 shares outstanding as of March 6, 2026.
Who are the reporting persons on this Schedule 13G for CIA?
The reporting persons are Continental General Insurance Company, Continental Insurance Group, Ltd., Continental General Holdings LLC, and Michael Gorzynski, filing jointly under a Joint Filing Agreement dated March 25, 2026.
How was the 5.0% ownership percentage calculated in the CIA filing?
The percentage is based on 50,299,741 Shares outstanding as of March 6, 2026, as reported in the issuer's Annual Report on Form 10-K referenced in the filing, producing ~5.0% for 2,538,719 shares.
Does the Schedule 13G indicate sole voting or dispositive power for the reporters in CIA?
The filing shows no sole voting or sole dispositive power and discloses shared voting and shared dispositive power for 2,538,719 shares across the reporting persons in the cover data.
Are the reported shares held directly or through entities in the CIA 13G?
The filing states CGIC directly owns 2,538,719 shares, and CIG, CGH and Mr. Gorzynski are deemed to beneficially own the same shares through ownership or management relationships.
