Citizens Inc ( (CIA) ) has released its Q4 earnings. Here is a breakdown of the information Citizens Inc presented to its investors.
Citizens, Inc., a diversified financial services company, specializes in life, living benefits, and final expense insurance, operating primarily in the U.S., Latin America, and Asia.
In its latest earnings report, Citizens, Inc. announced a modest increase in total revenues for the full year 2024, reaching $245 million, up from $240.7 million in 2023. The company also highlighted a significant growth in insurance issuance, with a record $1.1 billion issued, marking a 54% increase from the previous year.
Key financial metrics revealed that while total revenues saw a slight increase, income before federal income tax declined to $15 million from $26.2 million in 2023. However, adjusted income before tax showed a more favorable outcome at $21.3 million. The company achieved a 71% increase in direct first-year life and A&H premiums, driven by both domestic and international market growth.
Looking forward, Citizens, Inc. remains optimistic about its growth trajectory, expecting continued sales and revenue growth in 2025 and beyond. The company is poised to leverage its expanding global presence and innovative product offerings to create long-term value for shareholders.