Citizens (CIA) Emerging Growth Conference 93 summary

Company overview and business model

• Operates in over 80 countries and 40+ U.S. states, with 300+ employees and 3,000+ producing agents.

• $1.7 billion in assets, $5 billion+ in-force coverage, and $189 million in premium revenues projected for 2025.

• Unified management team oversees both domestic and international operations, enabling efficiency and rapid decision-making.

• Focuses on both domestic final expense and international life insurance, with a unique ability to operate overseas without brick-and-mortar presence.

• Aims for a long-term 50/50 revenue mix between U.S. and international markets for diversification and growth.

Growth strategy and market expansion

• Domestic growth driven by neighborhood-embedded agents and geographic expansion, with six major U.S. states still untapped.

• International growth leverages U.S. dollar-denominated whole life policies, appealing to clients in unstable economies.

• Plans to expand product portfolio to include universal and index universal life products to access new markets like Peru, Chile, and affluent segments.

• White label strategy in the U.S. final expense market accounts for over 50% of business and is seen as globally expandable.

• Sees significant opportunity to move upmarket in the U.S. and expand in Asia and Latin America as new products are launched.

Financial performance and risk management

• Achieved 14 consecutive quarters of year-over-year first-year sales increases, indicating strong future premium revenue.

• Reversed six years of declining premium revenues with two consecutive years of growth and record in-force business.

• Maintains a conservative investment approach, with most assets in fixed maturity securities and strong reinsurance partnerships.

• Domestic capital ratio at 510%, well above the 350% target; Puerto Rico entity slightly below its 7.0 target.

• Parent company holds $20 million in cash and equivalents to support insurance subsidiaries as operations grow.