Citizens Inc. (CIA) Reports In-Line Q2 EPS

Citizens Inc. (NYSE: CIA) reported Q2 EPS of $0.03, in-line with the analyst estimate of $0.03.

Rick D. Riley, Vice Chairman and President, said, "We are reporting an increase in premium sales revenue of 5.7% and 5.4% for the three and six months ended June 30, 2014 as well as continued improvement in investment yields and income as we steadily move up from the historical low interest rate levels from the prior years. Claim and surrenders remained flat for the three months as we experienced a claims reported increase in both insurance segments while lower surrenders in the life segment muted the impact overall. For the six months ended June 30, 2014 our reported claims were up by 5.3% with increases in both the life and home service insurance segments yet reported amounts were within expected levels."

Riley added, "Our investment income increased 8.8% and 13.2% for the current three and six months compared to the same periods in 2013, as the portfolio yield climbed to 4.21% compared to 4.11% for the full year of 2013 and 4.03% for the six months ended June 30, 2013. Interest on policyholder loans also contributed positively to this improvement as policy loans increased 6.4% from year end 2013."

"Book value per share of Class A common stock was $5.30 at June 30, 2014."

For earnings history and earnings-related data on Citizens Inc. (CIA) click here.

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