Citizens (CIA) Investor presentation summary

Business profile

• Focuses on international U.S. dollar-denominated life and endowment products, plus domestic final expense insurance; serves policyholders in 80+ countries and has 3,500+ producing agents.

• 2025 premium revenue was $189M; assets were $1.8B, and gross insurance in force reached a record $5.54B as of June 30, 2026.

• International premiums primarily originate in Latin America, with additional sales in Taiwan; domestic products include whole life, living benefits and critical illness coverage.

Growth strategy and execution

• Priorities include increasing first-year premium revenue, expanding in existing and new geographies, introducing products, and improving agent and client servicing platforms.

• First-year premiums grew YoY for 15 consecutive quarters; the global producing-agent network was up 6% from June 30, 2025.

• Domestic licenses reached 43 U.S. states plus Washington, DC; growth initiatives include new final expense products and white-labeled partnerships through established distribution channels.

• Matured endowment benefit payments peaked at $76.8M in 2025 and are expected to decline over the following years, creating an anticipated earnings tailwind.

• Two domestic insurance subsidiaries, CICA Life and Security Plan Life, were scheduled to consolidate on October 1, 2026, to improve operating efficiency.

Financial position and operating results

• Direct insurance in force rose 3.9% YoY to $5.432B at December 31, 2025, and reached $5.54B at June 30, 2026; 2025 insurance issued totaled $1.1B.

• Book value per share excluding AOCI was $6.44 at June 30, 2026, versus $6.22 a year earlier; growth continued for 14 consecutive quarters.

• Q2 2026 GAAP revenue was $60.4M versus $65.1M YoY; adjusted total revenue excluding investment-related gains and losses was $61.9M versus $62.7M.

• Q2 2026 adjusted income before federal income tax was $0.965M versus $4.506M YoY; adjusted diluted EPS was $0.01 versus $0.08.