Welcome to our dedicated page for Citizens news (Ticker: CIA), a resource for investors and traders seeking the latest updates and insights on Citizens stock.
Citizens, Inc. (NYSE: CIA) maintains this dedicated news hub for tracking official corporate developments in the life insurance sector. Investors and industry observers will find verified press releases, regulatory filings, and strategic updates from the multinational insurer.
Our curated collection features essential announcements including quarterly earnings results, product portfolio expansions, and leadership changes. Stay informed about CIA’s initiatives in underserved markets, U.S. dollar-denominated policy developments, and operational updates from both domestic and international segments.
This resource serves financial professionals requiring timely access to primary source information for market analysis. Content is organized chronologically with clear dating for efficient tracking of corporate milestones. Bookmark this page for direct access to Citizens’ latest financial communications without third-party commentary.
Citizens, Inc. (NYSE: CIA) has appointed three new board members as of August 1, 2021, reinforcing its commitment to diversity and expertise in the insurance sector. The new members include Cindy Davis, Keith Morgan, and Mary Taylor, each bringing significant experience relevant to the company's strategic objectives. Davis specializes in underwriting, Morgan in legal and regulatory matters, while Taylor has a strong background in finance and operations. The board now consists of 10 members with 20% being diverse, aimed at enhancing company oversight and stakeholder service.
Citizens, Inc. (NYSE: CIA) has appointed Sheryl Kinlaw as Chief Legal Officer, effective immediately. Kinlaw, who has over 20 years of legal experience, previously served as Interim Chief Legal Officer since April 2021 and as outside counsel since March 2020. Her role encompasses overseeing legal, regulatory, governance, and compliance matters. Vice-Chairman Gerald W. Shields expressed confidence in her ability to aid the company's growth strategy. Citizens, Inc. focuses on U.S. Dollar-denominated whole life insurance policies and related financial products.
Citizens, Inc. (NYSE: CIA) announced the launch of a new Whole Life insurance product, Security Plan Plus, under its subsidiary Security Plan Life Insurance Company (SPLIC). This product aims to address the needs of middle-income consumers in Louisiana, Mississippi, and Arkansas. Security Plan Plus promises a streamlined application process and competitive features, enhancing financial security for families. The company's focus remains on expanding its offerings to meet evolving market demands, indicating a commitment to growth in the Home Service market.
Citizens, Inc. (NYSE: CIA) announced that shareholders approved its say-on-pay proposal for the first time in three years, with 76% voting in favor. This decision reflects the Company’s commitment to enhance its executive compensation program and align it with shareholder expectations. The expanded pay-for-performance program now applies from executives to department directors and emphasizes four key business goals: first-year sales targets for markets, policy retention goals, execution milestones on the business roadmap, and financial targets for net earnings improvements.
Citizens, Inc. (NYSE: CIA) reported a Q1 2021 net loss of ($0.07) per share, consistent with the prior year, amidst a challenging COVID-19 environment. Revenue remained flat due to lower renewal premiums, although new policies issued surged by 22% reflecting improved operational strategies and agent recruitment.
The company announced regulatory approval to purchase Class B shares, restoring control to one class of voting shares. While claims and surrenders rose 16% due to increased death claims, general expenses saw a 1% decrease, highlighting management's focus on growth and compliance.
Citizens, Inc. (CIA) announced regulatory approval on April 12, 2021, allowing the Harold E. Riley Foundation to transfer its Class B common stock back to the company. The transaction, finalized on March 5, 2021, involved a purchase price of $9,090,463.80. As a result, all Class B shares were reclassified as treasury stock, ensuring only Class A shares remain voting shares. This shift marks a significant change, as for the first time in over 30 years, Citizens is no longer a controlled company, empowering its leaders to focus on growth and shareholder interests.
Citizens National Life Insurance Company (a subsidiary of Citizens, Inc., NYSE: CIA) has entered the Florida insurance market, launching its Whole Life insurance product tailored for Spanish and Portuguese speakers. The Longevity Max™ product combines life insurance with savings protection, offering conservative returns. With over 50 years in the insurance sector, CNLIC aims to serve Florida's Hispanic community, leveraging its vast experience in Latin America. President Robert Mauldin emphasizes the company's commitment to delivering reliable financial security and outstanding service.
Citizens, Inc. (NYSE: CIA) reported a net loss of ($0.22) per Class A share for 2020 due to one-time expenses triggered by a change-in-control. Excluding these, the loss was ($0.03). Total revenue declined by 5% year-over-year, with first-year premiums in the Life Insurance segment increasing by 15% in Q4 2020 versus Q4 2019. The Foundation Settlement Agreement paves the way for strategic growth. Despite challenges from the pandemic, the company saw improvements in policy issuance and virtual operations.
Citizens, Inc. (NYSE: CIA) announced the dismissal of Colorado litigation and the acquisition of all Class B common stock from the Harold E. Riley Foundation. This move stabilizes the company’s governance, allowing Class A shareholders to elect their directors. The litigation dismissal came after Baylor University and Southwestern Theological Seminary resolved their disputes with the Foundation's trustees. This agreement positions Citizens to refocus on business growth and strategic initiatives while committing to support Baylor and Southwestern through future donations.
Citizens, Inc. (NYSE: CIA) reported Q3 2020 results, revealing a Class A earnings per share decline of $0.20 due to one-time expenses from a recent Change-in-Control. Excluding this, EPS fell by $0.011. However, key metrics showed improvements over Q2 2020, including a 3% revenue increase and a 27% rise in first-year sales. The company also noted a 5% rise in renewal premiums and a significant 157% increase in policies issued. Despite the challenges posed by COVID-19 and Hurricane Laura, Citizens is optimistic about future growth initiatives, aiming to enhance product delivery and customer engagement.
