Citizens (CIA) investor relations material

Executive summary

• Income before federal income tax rose to $2.4 million for Q1 2026 from a loss of $1.8 million in Q1 2025, mainly due to a $3.9 million improvement in investment-related gains and losses, reflecting the absence of a prior-year BlackRock write-down.

• Total revenues reached $59.7 million in Q1 2026, a 7% increase year-over-year from $55.7 million.

• Net income was $2.3 million, reversing a $1.6 million loss in Q1 2025.

• Book value per share of Class A common stock was $4.74, with an adjusted book value of $6.48.

• Fourteen consecutive quarters of year-over-year growth in first year premiums.

Financial highlights

• Total revenues increased to $59.7 million in Q1 2026 from $55.7 million in Q1 2025, driven by higher investment gains.

• Net income for Q1 2026 was $2.3 million, compared to a net loss of $1.6 million in Q1 2025.

• Diluted EPS was $0.04 for Q1 2026, up from a loss of $0.03 per share in Q1 2025.

• Net investment income slightly decreased to $17.3 million from $17.4 million year-over-year, with annualized yield on average invested assets at 4.54%.

• Investment-related gains were $1.0 million in Q1 2026 versus losses of $2.9 million in Q1 2025.

Outlook and guidance

• Expectation of continued growth in Domestic Insurance segment and ongoing shift in International Insurance product mix toward whole life products.

• Management expects continued revenue and profit growth for full year 2026.

• Net investment income anticipated to increase as new investments in private placement credit are made.

• Maturity benefits from endowment products expected to decrease throughout 2026, improving cash from operations.

• Long-term EPS expansion anticipated through revenue growth and operating leverage.