CITIZENS Business Summary

Citizens, Inc. (CIA) is an insurance holding company that generates revenue primarily through the sale of life insurance premiums and the management of a robust investment portfolio. The company operates through two primary business segments: Life Insurance and Home Service Insurance. The Life Insurance segment specializes in U.S. dollar-denominated ordinary whole life and endowment products tailored for high-net-worth individuals in over 75 countries, particularly across Latin America and the Pacific Rim, while also offering final expense and critical illness policies domestically. The Home Service Insurance segment focuses on providing affordable, small-face-amount life insurance to lower-income households in the Southern United States, including Louisiana, Mississippi, and Arkansas. Positioned as a niche specialist in international dollar-denominated coverage and domestic final expense markets, Citizens, Inc. competes with larger diversified insurers such as Brighthouse Financial, Genworth Financial, and CNO Financial Group, maintaining a competitive edge through its localized agent networks and specialized multi-language customer support. Originally founded by Harold E. Riley in 1969, the company is currently led by President and CEO Jon Stenberg, who assumed the role in July 2024 following a 30-year career at Symetra Life, Ameriprise Financial, and New York Life. The executive team includes Jeffery P. Conklin, who serves as CFO, Chief Investment Officer, and Treasurer, and Bryon Lewis as Chief Operating Officer. The leadership is supported by a board featuring Vice Chairman and former CEO Gerald W. Shields, as well as Independent Director Christopher Claus, the former President of USAA Investment Management Company. Notable institutional investors include BlackRock, Vanguard Group, and Riposte Capital, which maintain significant positions as the company executes a strategic roadmap focused on scaling its international sales force and expanding its domestic distribution channels.