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Citizens Inc(CIA-N)

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Citizens Reports First Quarter 2023 Financial Results

PR Newswire - Mon May 8, 2023

AUSTIN, Texas, May 8, 2023 /PRNewswire/ -- Citizens, Inc. (NYSE: CIA), today reported financial results for the first quarter ended March 31, 2023.

Net income for the first quarter of 2023 totaled $4.9 million, or $0.10 per fully diluted class A share, compared to net income of $6.4 million, or $0.13 per fully diluted class A share, in the prior year quarter. Although revenues increased year-over-year, driven by higher net investment income and first year premium sales, net income decreased primarily due to higher federal income tax expense, lower renewal premium revenues and higher total insurance benefits paid.


Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.