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/PRNewswire/ Kansas City Life Insurance Company recorded a net loss of $6.0 million or $0.62 per share in the third quarter of 2021 compared to a net loss.
/PRNewswire/ Kansas City Life Insurance Company recorded a net loss of $6.0 million or $0.62 per share in the third quarter of 2021 compared to a net loss.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Kansas City Life Announces First Quarter 2021 Results
April 30, 2021 GMT
KANSAS CITY, Mo., April 30, 2021 /PRNewswire/ Kansas City Life Insurance Company recorded a net loss of $0.7 million or $0.07 per share in the first quarter of 2021 compared to net income of $0.2 million or $0.02 per share in the first quarter of 2020.
The largest contributors in the decline in net income in 2021 compared to 2020 were a decrease in premiums, net of reinsurance, and an increase in policyholder benefits. The increase in policyholder benefits reflected higher death benefits. In addition, an increase in income tax expense also contributed to lower net income. Partially offsetting these were an increase in net realized investment gains and lower amortization of deferred acquisition costs compared to the prior year.