Kansas City Life Announces Fourth Quarter 2024 Results

Core Insights - Kansas City Life Insurance Company reported a net loss of $12.6 million or$1.30 per share in Q4 2024, a significant decline from a net income of $49.1 million or$5.07 per share in Q4 2023 [1] - For the full year 2024, the company recorded a net loss of $5.0 million or$0.51 per share, compared to a net income of $54.9 million or$5.67 per share in 2023 [2] Financial Performance - Q4 2024 revenues were $115.8 million, down from$186.4 million in Q4 2023 [4] - Full year 2024 revenues totaled $490.8 million, compared to$558.9 million in 2023 [4] - The company established a $21.1 million pretax legal reserve in Q4 2024 related to class action lawsuits, contributing to increased operating expenses [1] - Net investment gains were lower in 2024 due to portfolio repositioning, while net investment income increased [1][2] Business Overview - Kansas City Life Insurance Company was established in 1895 and is based in Kansas City, Missouri, providing financial protection through life insurance and annuities [3] - The company operates in 49 states and the District of Columbia [3]