Citizens, Inc. President Jon Stenberg Appointed Chief Executive Officer
Executive Officer
"This announcement comes at an exciting time as we continue our momentum to capitalize on the unique opportunities in front of us. The Company expects continued sales growth in 2024 leading to strong profit growth in the full year 2025," said
"I am thrilled with this appointment. We are fortunate to continue benefiting from Gerald's leadership and expertise as the entire Citizens team works to further grow and create value for our customers and shareholders. Citizens is an incredible company delivering customer-centric, innovative products in large and underserved markets," said
- Highest amount of insurance issued in a quarter - Insurance issued increased 61% year-over- year to
$274.5 million in Q1 2024. - Record insurance in force, over
$5 billion of insurance in force atMarch 31, 2024 . - AM Best initiated financial strength and credit ratings on
Citizens, Inc.'s CICA Life Insurance
Company of America in 2023, recognizing CICA's Very Strong balance sheet and outlook.
pivoted its business model. The pivot resulted in dramatic sales growth while improving profitability and capital efficiency.
Jon previously served as Executive Vice President of
About
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "will," "expect," "anticipate", "believe", "project", "intends," "continue" or comparable words. Such forward-looking statements may relate to the Company's expectations regarding its business performance, operational strategy, capital expenditures, technological changes, regulatory actions, and other financial and operational measures. In addition, all statements other than statements of historical facts that address activities that the Company expects or anticipates will or may occur in the future are forward-looking statements. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control. Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements. The risks, uncertainties and assumptions that are involved in our forward-looking statements include, but are not limited to the risk factors discussed in our most recently filed periodic reports on Form 10-K and Form 10-Q. The Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in the Company's expectations. Accordingly, you should not unduly rely on these forward-looking statements. The Company also disclaims any duty to comment upon or correct information that may be contained in reports published by the investment community.
Darrow Associates Investor Relations
Email: [email protected] (Jeff and Matt)
Phone: 703-297-6917 (Jeff) and 214-597-8200 (Matt)
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