Citizens (CIA) Sidoti's Year End Virtual Investor Conference summary

Business overview and growth strategy

• Operates in 75 countries with 250 employees and over 3,000 agents, up from a few hundred two years ago.

• Holds $1.7 billion in assets and over $5 billion in policy face amount, with $173 million in revenue.

• Two-thirds of premium comes from international markets, mainly South America and Taiwan.

• Offers U.S. dollar-denominated whole life policies, appealing in countries with political or economic instability.

• Aims for 50% of revenue from the U.S. by expanding into new states and growing agent count.

Domestic market expansion and innovation

• Expanded from 5 to 43 states, with products approved in 43 and plans to reach 49.

• White-label strategy for large agencies drives 60% of U.S. premium, creating loyalty and differentiation.

• Focuses on underserved final expense market with affordable, small face-amount policies.

• Emphasizes agent support, ease of doing business, and product innovation.

• Plans to grow by entering remaining states and moving upmarket to larger face amounts.

International business and competitive dynamics

• Succeeds in difficult markets by offering stability and U.S. dollar policies.

• Agents in South America and Taiwan typically sell only these life insurance products.

• Near-infinite international growth potential by entering new countries without brick-and-mortar presence.

• Competitive advantage in agent loyalty and servicing in international markets.