|Kansas City, MO. Kansas City Life Insurance Company recorded net income of $6.3 million or $0.64 per share in the third quarter of 2018, a decrease of $0.4 million or $0.05 per share compared to the third quarter of 2017. Net income totaled $11.8 million or $1.22 per share in the first nine months of 2018, down from $17.4 million or $1.80 per share in the first nine months of 2017.
The results for the third quarter and first nine months of 2018 compared to the same periods in the prior year reflected increases in insurance revenues and net realized investment gains. Offsetting these favorable results were increases in policyholder benefits, amortization of deferred acquisition costs, and operating expenses. In addition, net investment income declined, primarily reflecting reduced reinvestment rates available in the marketplace.
Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company's primary business is providing financial protection through the sale of life insurance and annuities. The Company operates in 49 states and the District of Columbia. For more information, please visit www.kclife.com.
View the Condensed Consolidated Income Statement