Kansas City Life Insurance Company (KCLI) reported an increase in net income on a year over basis led by strong insurance sales and improving returns in its investment portfolio.
Kansas City Life Insurance Company reported net income of $10.1 million or $0.88 per diluted share for the second quarter of 2010, compared to net income of $8.0 million or $0.70 per diluted share in the corresponding quarter last year.
Kansas City Life Insurance Company reported sales of $105.9 million for the second quarter of 2010, compared to sales of $101.4 million in the second quarter of 2009. The company reported strength in sales of life insurance, immediate annuities and accident and health policies, and booked a total of $12.4 million in premiums from new policies in the quarter.
Kansas City Life Insurance Company reported a net unrealized gain of $114.7 million in the company’s investment portfolio as of 6/30/2010. The company also said that the total market value of the portfolio increased by $228 million from 6/30/2009.
Kansas City Life Insurance Company declared a $0.27 per share quarterly dividend to be paid on 8/11/2010 to shareholders of record on 8/5/2010. The stock has an annual yield of 3.3%.
Kansas City Life Insurance Company is an insurance company headquartered in Missouri. The company writes policies in forty-nine states and was founded in 1895.
For more information on the company, go to http://www.kclife.com/