Citizens (CIA) Emerging Growth Virtual Conference summary

Company overview and market positioning

• Operates as a life insurance provider with nearly 250 employees and policyholders in over 75 countries.

• Agent base expanded from 2,000 to 8,000 in recent years, supporting $1.7 billion in assets and $5 billion in insurance coverage.

• International focus on U.S. dollar-denominated whole life policies, appealing to clients in regions with currency instability.

• Strong presence in South America and Asia, with significant premium revenue from countries like Colombia, Venezuela, Ecuador, Argentina, and Taiwan.

• Domestic growth driven by expansion from 3 to 43 states and a focus on final expense and home service markets.

Competitive advantages and growth strategy

• 45 years of experience in volatile international markets, providing expertise in navigating political and currency risks.

• Multicultural workforce enables tailored service for diverse client bases, especially in Latin American and U.S. Hispanic markets.

• White-label strategy in the U.S. allows distributors to market unique branded products, fostering loyalty and differentiation.

• End-to-end customer support in Spanish, Mandarin, and English, with plans to reintroduce Portuguese.

• Scalable model enables entry into new countries with minimal investment, targeting 50 additional markets for long-term growth.

Financial performance and operational highlights

• Achieved record $1.1 billion in new insurance issued, a 54% year-over-year increase.

• Nine consecutive quarters of first-year sales growth and a 72% increase in producers year-over-year.

• Four consecutive years of book value per share growth, with a focus on sustainable, profitable production and expense management.

• Over 20 years of positive net operating cash flows, no debt, and a share repurchase program in place.

• Conservative investment approach with 87% of assets in high-quality fixed income, 99% investment grade, and a 623% RBC capital ratio.