Kansas City Life Announces Third Quarter 2017 Results

The results for the third quarter ended September 30, 2017 reflected a decrease in investment revenues and an increase in benefits, net of reinsurance compared to the prior year.  Partially offsetting these were increased premiums, largely from individual life products, and lower operating expenses.

The improvement in net income for the nine months ended September 30, 2017 primarily resulted from increased insurance revenues from both premiums and contract charges.  In addition, policyholder benefits decreased largely due to the change in liabilities associated with certain products linked to financial markets.  Partially offsetting these was a decrease in investment revenues and an increase in the amortization of deferred acquisition costs, both primarily resulting from the low interest rate environment.

Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri.  The Company’s primary business is providing financial protection through the sale of life insurance and annuities.  The Company operates in 49 states and the District of Columbia. For more information, please visit www.kclife.com.

Kansas City Life Insurance Company

Condensed Consolidated Income Statement

(amounts in thousands, except share data)

Quarter Ended

Nine Months Ended

September 30

September 30

2017

2016

2017

2016

Revenues

$

112,014

$

112,209

$

338,528

$

333,287

Net income

$

6,648

$

7,193

$

17,428

$

16,692

Net income per share, basic and diluted

$

0.69

$

0.74

$

1.80

$

1.72

Dividends paid

$

0.27

$

0.27

$

0.81

$

0.81

Average number of shares outstanding

9,683,414

9,683,414

9,683,414

9,683,414

SOURCE Kansas City Life Insurance Company

Related Links

http://www.kclife.com

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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