Schedule II - Financial Statements (Tables)

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]


Schedule II Condensed Financial Information of Registrant CITIZENS, INC. (Parent Company) Balance Sheets
December 31, (In thousands)	2025		2024

Assets:
Investment in subsidiaries (1)	$	213,359	188,678
Fixed maturity securities, available-for-sale, at fair value	16,295		16,331
Equity securities, at fair value	178		21




Cash (restricted portion: $1,554 in 2025 and 2024)	5,658		4,272
Accrued investment income	159		197
Accounts receivable from subsidiaries (1)	3,604		4,292
Property and equipment, net	6,642		8,018

Other assets	(63)		283
Total assets	$	245,832	222,092
Liabilities and Stockholders' Equity:
Liabilities:
Accrued expense and other liabilities	$	10,847	11,737
Total liabilities	10,847		11,737
Stockholders' equity:
Common stock:
Class A	272,294		269,799
Class B	3,184		3,184
Retained earnings	71,653		57,062
Unrealized investment gains (losses) on securities held by parent and subsidiaries, net of tax	(88,421)		(95,965)
Treasury stock	(23,725)		(23,725)
Total stockholders' equity	234,985		210,355
Total liabilities and stockholders' equity	$	245,832	222,092

(1) Eliminated in consolidation.

Note to Schedule II:

Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries and unrealized gains (losses) on investments held by consolidated subsidiaries. The Company includes in its statements of operations and comprehensive income (loss) dividends from its subsidiaries and equity in income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.

Condensed Income Statement


Schedule II, Continued Condensed Financial Information of Registrant CITIZENS, INC. (Parent Company) Statements of Operations and Comprehensive Income (Loss)
Years ended December 31, (In thousands)	2025		2024
Comprehensive Income (Loss):
Revenues:
Management service fees (1)	$	44,824	41,636
Investment income	769		4,900
Other	125		83
Investment related gains (losses), net	31		(17)
Total revenues	45,749		46,602
Expenses:
General expenses	48,285		47,470
Taxes, licenses and fees	224		216
Total expenses	48,509		47,686


Income (loss) before equity in income (loss) of consolidated subsidiaries	(2,760)		(1,084)
Equity in income of consolidated subsidiaries	17,351		15,996
Net income	14,591		14,912
Other comprehensive income (loss)	7,544		22,190
Total comprehensive income (loss)	$	22,135	37,102

(1) Eliminated in consolidation.

Note to Schedule II:

Condensed Cash Flow Statement


Schedule II, Continued Condensed Financial Information of Registrant CITIZENS, INC. (Parent Company) Statements of Cash Flows
Years ended December 31, (In thousands)	2025		2024
Cash flows from operating activities:
Net income	$	14,591	14,912
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Investment related gains (losses), net	(31)		17
Equity in income of consolidated subsidiaries	(17,351)		(15,996)
Change in accrued expenses and other liabilities	210		4,303
Change in federal income tax payable	519		828

Amortization of premiums and discounts on investments	54		81
Depreciation	219		243
Change in accrued investment income	38		32
Stock-based compensation	2,774		1,517
Decrease (increase) in receivable from subsidiaries and other assets	688		39
Other, net	(222)		(23)
Net cash provided by (used in) operating activities	1,489		5,953
Cash flows from investing activities:


Purchases of fixed maturity securities, available-for-sale	(8,820)		(5,066)
Maturities and calls of fixed maturity securities, available-for-sale	4,671		9,989
Purchase of equity securities	(120)		—
Sales of fixed maturity securities, available-for-sale	4,444		—







Purchases of property and equipment	—		(106)



Net cash provided by (used in) investing activities	175		4,817
Cash flows from financing activities:



Capital contribution to subsidiary	—		(10,010)
Other share repurchases	(278)		(393)
Net cash provided by (used in) financing activities	(278)		(10,403)
Net increase (decrease) in cash	1,386		367
Cash at beginning of year	4,272		3,905
Cash at end of year	$	5,658	4,272

Note to Schedule II: