Kansas City Life Announces Fourth Quarter 2024 Results
Kansas City Life Insurance Company (KCLI) reported a significant financial downturn in Q4 2024, posting a net loss of $12.6 million ($1.30 per share), compared to a net income of $49.1 million ($5.07 per share) in Q4 2023.
The decline was attributed to multiple factors including:
- Lower insurance revenues
- Reduced net investment gains
- Higher operating expenses, including a $21.1 million pretax legal reserve for class action lawsuits
- AG真人官方ized losses from portfolio repositioning in 2024
For the full year 2024, KCLI recorded a net loss of $5.0 million ($0.51 per share), versus net income of $54.9 million ($5.67 per share) in 2023. While net investment income increased and policyholder benefits declined, these positives were offset by decreased insurance revenues and increased interest credited on policyholder account balances.
Kansas City Life Insurance Company (KCLI) ha riportato un significativo calo finanziario nel quarto trimestre del 2024, registrando una perdita netta di 12,6 milioni di dollari (1,30 dollari per azione), rispetto a un utile netto di 49,1 milioni di dollari (5,07 dollari per azione) nel quarto trimestre del 2023.
Il declino 猫 stato attribuito a molteplici fattori, tra cui:
- Minori entrate assicurative
- Riduzione dei guadagni netti da investimenti
- Aumento delle spese operative, inclusa una riserva legale ante imposte di 21,1 milioni di dollari per cause collettive
- Perdite realizzate dalla riposizionamento del portafoglio nel 2024
Per l'intero anno 2024, KCLI ha registrato una perdita netta di 5,0 milioni di dollari (0,51 dollari per azione), rispetto a un utile netto di 54,9 milioni di dollari (5,67 dollari per azione) nel 2023. Sebbene il reddito netto da investimenti sia aumentato e i benefici per i titolari di polizze siano diminuiti, questi aspetti positivi sono stati controbilanciati da una diminuzione delle entrate assicurative e da un aumento degli interessi accreditati sui saldi dei conti dei titolari di polizze.
Kansas City Life Insurance Company (KCLI) report贸 una significativa ca铆da financiera en el cuarto trimestre de 2024, registrando una p茅rdida neta de 12,6 millones de d贸lares (1,30 d贸lares por acci贸n), en comparaci贸n con una ganancia neta de 49,1 millones de d贸lares (5,07 d贸lares por acci贸n) en el cuarto trimestre de 2023.
La disminuci贸n se atribuy贸 a m煤ltiples factores, incluyendo:
- Menores ingresos por seguros
- Reducci贸n de las ganancias netas por inversiones
- Aumento de los gastos operativos, incluyendo una reserva legal antes de impuestos de 21,1 millones de d贸lares para demandas colectivas
- P茅rdidas realizadas por el reposicionamiento de la cartera en 2024
Para el a帽o completo de 2024, KCLI registr贸 una p茅rdida neta de 5,0 millones de d贸lares (0,51 d贸lares por acci贸n), en comparaci贸n con una ganancia neta de 54,9 millones de d贸lares (5,67 d贸lares por acci贸n) en 2023. Aunque los ingresos netos por inversiones aumentaron y los beneficios para los asegurados disminuyeron, estos aspectos positivos fueron contrarrestados por la disminuci贸n de los ingresos por seguros y el aumento de los intereses acreditados en los saldos de las cuentas de los asegurados.
旌旍瀽鞀� 鞁滍嫲 靸濍獏 氤错棙 須岇偓 (KCLI)電� 2024雲� 4攵勱赴鞐� 靸侂嫻頃� 鞛爼鞝� 頃橂澖鞚� 氤搓碃頃橂┌ 1,260毵� 雼煬鞚� 靾滌啇鞁� (欤茧嫻 1.30雼煬)鞚� 旮半頄堨姷雼堧嫟. 鞚措姅 2023雲� 4攵勱赴鞚� 4,910毵� 雼煬(欤茧嫻 5.07雼煬)鞚� 靾滌澊鞚店臣 牍勱祼霅╇媹雼�.
頃橂澖 鞗愳澑鞚� 雼れ潓瓿� 臧欖潃 鞐煬 鞖旍澑鞐� 旮办澑頃╇媹雼�:
- 氤错棙 靾橃澋 臧愳唽
- 靾滍埇鞛� 靾橃澋 臧愳唽
- 歆戨嫧 靻岇啞鞚� 鞙勴暅 靹胳爠 氩曤 欷�牍勱笀 2,110毵� 雼煬毳� 韽暔頃� 鞖挫榿牍� 歃濌皜
- 2024雲� 韽姼韽措Μ鞓� 鞛幐靹膘溂搿� 鞚疙暅 鞁ろ槃 靻愳嫟
2024雲� 鞝勳泊 鞐半弰 霃欖晥 KCLI電� 500毵� 雼煬鞚� 靾滌啇鞁� (欤茧嫻 0.51雼煬)鞚� 旮半頄堨溂氅�, 鞚措姅 2023雲勳潣 5,490毵� 雼煬(欤茧嫻 5.67雼煬)鞚� 靾滌澊鞚店臣 牍勱祼霅╇媹雼�. 靾滍埇鞛� 靾橃澋鞚� 歃濌皜頃橁碃 氤错棙臧�鞛呾瀽 順滍儩鞚� 臧愳唽頄堨毵�, 鞚措煬頃� 旮嶌爼鞝侅澑 鞖旍唽電� 氤错棙 靾橃澋 臧愳唽鞕� 氤错棙臧�鞛呾瀽 瓿勳 鞛旍暋鞐� 雽�頃� 鞚挫瀽 歃濌皜搿� 靸侅噭霅橃棃鞀惦媹雼�.
Kansas City Life Insurance Company (KCLI) a signal茅 un important d茅clin financier au quatri猫me trimestre 2024, affichant une perte nette de 12,6 millions de dollars (1,30 dollar par action), par rapport 脿 un b茅n茅fice net de 49,1 millions de dollars (5,07 dollars par action) au quatri猫me trimestre 2023.
Ce d茅clin a 茅t茅 attribu茅 脿 plusieurs facteurs, notamment :
- Des revenus d'assurance en baisse
- Des gains nets d'investissement r茅duits
- Des frais d'exploitation plus 茅lev茅s, y compris une r茅serve l茅gale avant imp么ts de 21,1 millions de dollars pour des actions en justice collectives
- Des pertes r茅alis茅es dues au repositionnement du portefeuille en 2024
Pour l'ann茅e compl猫te 2024, KCLI a enregistr茅 une perte nette de 5,0 millions de dollars (0,51 dollar par action), contre un b茅n茅fice net de 54,9 millions de dollars (5,67 dollars par action) en 2023. Bien que le revenu net d'investissement ait augment茅 et que les prestations pour les assur茅s aient diminu茅, ces 茅l茅ments positifs ont 茅t茅 compens茅s par une baisse des revenus d'assurance et une augmentation des int茅r锚ts cr茅dit茅s sur les soldes des comptes des assur茅s.
Kansas City Life Insurance Company (KCLI) berichtete im 4. Quartal 2024 von einem erheblichen finanziellen R眉ckgang mit einem Nettoverlust von 12,6 Millionen Dollar (1,30 Dollar pro Aktie), verglichen mit einem Nettogewinn von 49,1 Millionen Dollar (5,07 Dollar pro Aktie) im 4. Quartal 2023.
Der R眉ckgang wurde mehreren Faktoren zugeschrieben, darunter:
- Niedrigere Versicherungsums盲tze
- Reduzierte Nettoanlagegewinne
- H枚here Betriebskosten, einschlie脽lich einer steuerlichen R眉ckstellung von 21,1 Millionen Dollar f眉r Sammelklagen
- AG真人官方isierte Verluste durch Portfolio-Neuordnung im Jahr 2024
F眉r das gesamte Jahr 2024 verzeichnete KCLI einen Nettoverlust von 5,0 Millionen Dollar (0,51 Dollar pro Aktie), im Vergleich zu einem Nettogewinn von 54,9 Millionen Dollar (5,67 Dollar pro Aktie) im Jahr 2023. W盲hrend die Nettoanlageertr盲ge gestiegen und die Leistungen f眉r Versicherungsnehmer gesunken sind, wurden diese positiven Aspekte durch sinkende Versicherungsums盲tze und h枚here Zinsen auf die Kontost盲nde der Versicherungsnehmer ausgeglichen.
- Net investment income increased year-over-year
- Policyholder benefits expenses decreased
- Q4 2024 net loss of $12.6M vs $49.1M profit in Q4 2023
- Full-year 2024 net loss of $5.0M vs $54.9M profit in 2023
- $21.1M legal reserve for class action lawsuits
- Lower insurance revenues
- AG真人官方ized investment losses from portfolio repositioning
- Increased interest credited on policyholder account balances
We recorded a net loss of
Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in
听
Kansas City Life Insurance Company Condensed Consolidated Income Statement (amounts in thousands, except share data) 听 | |||||||||||
Quarter Ended December 31 | Year Ended December 31 | ||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||
Revenues | $ | 115,820 | $ | 186,373 | $ | 490,787 | $ | 558,920 | |||
Net income (loss) | $ | (12,575) | $ | 49,099 | $ | (4,965) | $ | 54,920 | |||
Net income (loss) per share, basic and diluted | $ | (1.30) | $ | 5.07 | $ | (0.51) | $ | 5.67 | |||
Dividends paid | $ | 0.14 | $ | 0.14 | $ | 0.56 | $ | 0.56 | |||
Average number of shares听outstanding | 9,683,414 | 9,683,414 | 9,683,414 | 9,683,414 | |||||||
View original content:
SOURCE Kansas City Life Insurance Company
FAQ
What caused Kansas City Life Insurance (KCLI) to report a loss in Q4 2024?
How much did KCLI lose per share in Q4 2024 compared to Q4 2023?
What was KCLI's full-year 2024 financial performance?
How much did KCLI set aside for legal reserves in Q4 2024?
