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Kansas City Life Insurance Company (OTCQX: KCLI) is a well-established financial protection firm headquartered in Kansas City, Missouri. Founded in 1895, the company specializes in offering life insurance and annuities to individuals and families across 49 states and the District of Columbia. With over a century of experience, Kansas City Life Insurance Company has built a solid reputation for reliability and customer service.
The company's primary focus is on providing financial protection through its wide range of life insurance and annuity products. These products are designed to help policyholders secure their financial future and protect their loved ones. In recent years, the company has reported significant improvements in its financial performance. For instance, net income for the fourth quarter of 2023 was $49.1 million, a substantial turnaround from a net loss of $17.3 million in the same period of the previous year. This improvement was largely driven by a $61.7 million increase in realized investment gains, primarily from real estate sales.
In terms of recent achievements, Kansas City Life Insurance Company has successfully completed the sale of several real estate assets, resulting in substantial after-tax gains. These sales have positively impacted the company's financial statements, contributing to its robust performance in 2023 and early 2024.
The company has also focused on optimizing its operations by reducing operating expenses and increasing investment income. For example, operating expenses decreased by $19.6 million in the fourth quarter of 2023 compared to the previous year, mainly due to the reduction of legal reserve accruals related to a class action lawsuit.
Kansas City Life Insurance Company continues to strive for excellence in its core business while exploring new opportunities for growth and expansion. For the latest updates and detailed information about their financial performance, ongoing projects, and new developments, please visit their official website at www.kclife.com.
Kansas City Life Insurance Company (OTCQX: KCLI) announced a quarterly dividend of $0.14 per share on April 24, 2023. This dividend will be distributed on May 10, 2023, to stockholders who are on record by May 4, 2023. The company, established in 1895 and based in Kansas City, Missouri, mainly focuses on providing financial protection through life insurance and annuities, operating across 49 states and the District of Columbia.
Kansas City Life Insurance Company announced the retirement of Board member Nancy Bixby Hudson, effective April 19, 2023. Ms. Hudson, who has served since 1996, expressed her gratitude for the opportunity to serve the company's policyholders and shareholders. She also retired from the board of Old American Insurance Company and has previously served on the board of Sunset Life Insurance Company of America. R. Philip Bixby, Chairman of the Board, thanked her for her leadership over 27 years. Kansas City Life specializes in life insurance and annuities and operates in 49 states and the District of Columbia.
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