Citizens (CIA) Q4 2025 earnings summary

Executive summary

• Achieved record full year total revenues of $255.6 million in 2025, up from $245.0 million in 2024, and record Q4 revenues of $72.1 million, up from $63.5 million in Q4 2024.

• Income before federal income tax rose to $17.5 million in 2025 from $15.0 million in 2024; Q4 income before tax was $7.9 million, up from $3.7 million in Q4 2024.

• Book value per Class A share increased to $4.67 at year-end 2025 from $4.21 at year-end 2024; adjusted book value per share rose to $6.43 from $6.14.

• Total direct insurance in force reached a record $5.43 billion at December 31, 2025, up 3.9% year-over-year.

• Producing agents increased 22% year-over-year, supporting thirteen consecutive quarters of first year premium growth.

Financial highlights

• Adjusted total revenues for 2025 were $255.5 million, up from $247.6 million in 2024; Q4 adjusted revenues were $70.2 million, up from $67.6 million in Q4 2024.

• Adjusted income before federal income tax for 2025 was $17.3 million, down from $21.3 million in 2024; Q4 adjusted income before tax was $6.0 million, down from $8.0 million in Q4 2024.

• Net income for Q4 2025 was $7.3 million ($0.14 per diluted share), up from $3.6 million ($0.07 per share) in Q4 2024.

• Adjusted net income for Q4 2025 was $5.6 million ($0.11 per share), down from $7.8 million ($0.15 per share) in Q4 2024.

• Total assets at year-end 2025 were $1.75 billion; cash and cash equivalents were $23.0 million with no debt.

Outlook and guidance

• Expects revenue and profit growth for full year 2026, citing strong global business model, disciplined execution, and favorable demographic trends.

• Anticipates reduced levels of matured endowment benefits starting in 2026 as fewer contracts expire.