Kansas City Life Announces Third Quarter 2024 Results
KANSAS CITY LIFE INS NEW (KCLI)
US:NASDAQ Investor Relations:
kclife.com/company/financials.aspx
Company Research
Source: PR Newswire
KANSAS CITY, Mo., Nov. 1, 2024 /PRNewswire/ -- Kansas City Life Insurance Company recorded net income of $1.3 million or $0.14 per share in the third quarter of 2024, down from net income of $4.6 million or $0.47 per share in the third quarter of 2023. Net income totaled $7.6 million or $0.79 per share in the first nine months of 2024, up from $5.8 million or $0.60 per share in the first nine months of 2023.The results for the third quarter of 2024 reflected lower insurance revenues and higher policyholder benefits, specifically from death benefits, and interest credited to policyholder account balances versus the prior year. Improvements for the quarter included increases in net investment income and net investment gains.The improvement in the first nine months of 2024 compared to the prior year largely resulted from increases in net investment income and net investment gains and a decrease in policyholder benefits. Partially offsetting these were a decrease in insurance revenues
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