CIA · Citizens, Inc.

Citizens, Inc. delivered strong Q1 2026 results, with GAAP total revenues rising 7% to $59.7 million, primarily driven by a $3.9 million swing in investment-related gains versus the prior year's BlackRock write-down. Adjusted revenues of $58.7 million edged up from $58.5 million, reflecting higher insurance premium revenue and other income from supplemental contracts. Total benefits and expenses dipped slightly to $57.3 million, aided by lower surrender benefits, future policy benefits reserves, and commissions in the International segment, though offset by increased general expenses supporting growth. Net investment income held steady at $17.3 million, with the portfolio yield at 4.54% on a $1.4 billion carrying value. CEO Jon Stenberg highlighted the fourteenth consecutive quarter of first-year premium growth, fueled by a 5% larger global agent network and new products, alongside direct premiums up to $43.9 million and renewal premium growth. The Domestic Insurance segment showed robust momentum with premiums up 13% to $18.4 million, while International premiums were stable. Balance sheet remains solid with $1.7 billion in assets, $18.5 million cash, and no debt. Management anticipates full-year 2026 revenue and profit growth, positive operating cash flow for the remainder of the year as endowment maturities decline, and long-term EPS expansion via operating leverage in a customer-centric model serving U.S., Latin America, and Asia.