secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS, INC. (CIA)
CIK:        0000024090
Form:       8-K
Filed at:   2023-08-24T23:59:59+00:00
Accession:  0000024090-23-000099
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/24090/000002409023000099/0000024090-23-000099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/24090/000002409023000099/cia-20230824.htm
  HTML page:      https://secwatch.observer/filing/0000024090-23-000099

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