Citizens swings to Q2 pretax loss of $0.5 million; revenue falls to $60.41 million - CIA News | RalliesCitizens swings to Q2 pretax loss of $0.5 million; revenue falls to $60.41 million
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CIA• Premiums and insurance benefits
- Premiums rose 4% to $48.11 million; reinsurance ceded increased to $4.4 million as domestic final expense sales grew.
- Insurance benefits provided increased 4.48% to $40.05 million; death claim benefits climbed to $7.5 million.
Quarterly pretax loss and revenue decline
- Citizens posted a pretax loss of $529,000 in Q2, swinging from pretax income of $6.91 million a year earlier.
- Revenue fell 7.19% to $60.41 million on a $1.49 million investment-related loss versus a $2.41 million gain.
Balance sheet and earthquake-related liability
- The company recorded a $500,000 death-claim liability tied to June 2026 Venezuela earthquakes.
- Total assets were $1.8 billion with no debt.
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