Citizens restates prior financials for LDTI; OCI reduced $316.8M

CITIZENS, INC.

Recorded $0.1M after-tax charge to retained earnings upon LDTI adoption, primarily from capping net premium ratios.
Pretax OCI decreased $370.3M from remeasuring contract liabilities using current upper-medium grade yields.
Pretax DAC, COIA, and unearned revenue decreased $35.2M in accumulated OCI for removal of cumulative adjustments.
Balance sheet presentation revised: annuity and supplemental contract reserves combined into 'annuities' line item.

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