CITIZENS INC
For the period ended Dec 31, 2024. Filed Mar 13, 2025.
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FY2024 · Filed Mar 13, 2025
CIA$4.38+0.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Operations and Comprehensive Income (Loss)
CITIZENS, INC.
| CITIZENS, INC. AND CONSOLIDATED SUBSIDIARIESConsolidated Statements of Operations and Comprehensive Income (Loss) | ||
|---|---|---|
| Years Ended December 31,(In thousands, except share amounts) | 2024 | 2023 |
| Revenues: | ||
| Premiums: | ||
| Life insurance | $171,561 | 164,609 |
| Accident and health insurance | 1,785 | 1,637 |
| Property insurance | (18) | 793 |
| Net investment income | 69,712 | 69,254 |
| Investment related gains (losses), net | (2,626) | 760 |
| Other income | 4,587 | 3,627 |
| Total revenues | 245,001 | 240,680 |
| Benefits and Expenses: | ||
| Insurance benefits paid or provided: | ||
| Claims and surrenders | 146,082 | 135,993 |
| Increase (decrease) in future policy benefit reserves | (4,286) | (5,624) |
| Policyholder liability remeasurement (gain) loss | 4,756 | 4,460 |
| Policyholders' dividends | 5,355 | 5,542 |
| Total insurance benefits paid or provided | 151,907 | 140,371 |
| Commissions | 49,118 | 39,241 |
| Other general expenses | 52,266 | 47,131 |
| Capitalization of deferred policy acquisition costs | (41,302) | (28,301) |
| Amortization of deferred policy acquisition costs | 17,435 | 15,460 |
| Amortization of cost of insurance acquired | 597 | 604 |
| Total benefits and expenses | 230,021 | 214,506 |
| Income before federal income tax | 14,980 | 26,174 |
| Federal income tax expense (benefit) | 68 | 1,737 |
| Net income | 14,912 | 24,437 |
| Per Share Amounts: | ||
| Basic earnings per share Class A common stock | $0.30 | 0.49 |
| Diluted earnings per share Class A common stock | 0.29 | 0.48 |
| Other Comprehensive Income (Loss): | ||
| Unrealized gains (losses) on fixed maturity securities: | ||
| Unrealized holding gains (losses) arising during period | (30,982) | 50,894 |
| Reclassification adjustment for losses (gains) included in net income | 699 | 756 |
| Unrealized gains (losses) on fixed maturity securities, net | (30,283) | 51,650 |
| Change in current discount rate for liability for future policy benefits | 56,613 | (34,790) |
| Income tax expense (benefit) on other comprehensive income items | 4,140 | (2,029) |
| Other comprehensive income (loss) | 22,190 | 18,889 |
| Total comprehensive income (loss) | $37,102 | 43,326 |
December 31, 2024 | 10-K 63
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