earnings
confidence high
sentiment negative
materiality 0.75
Citizens Q3 net loss $0.06/sh, revenue up 3%; hurricane Ida and COVID-19 delta hit results
CITIZENS, INC.
- Net loss per share $(0.06) improved $0.10 YoY; revenue $61.6M (+3%) on higher realized gains.
- Total premiums down 2% due to property reinsurance for Hurricane Ida; claims up 83% in Home Service segment.
- Life insurance segment first year premiums up 36%; policies issued up 19% to 1,000+ policies.
- Home Service segment total premiums down 6%; first year premiums up 16% despite Hurricane Ida disruptions.
- General expenses down 46% to $10.5M driven by lower change-in-control costs vs. prior year.