UTG, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 13, 2022 at 12:58 pm
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UTG, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported revenue was USD 18.96 million compared to USD 24.09 million a year ago. Net income was USD 9.19 million compared to USD 14.17 million a year ago. Basic earnings per share from continuing operations was USD 2.9 compared to USD 4.46 a year ago. Diluted earnings per share from continuing operations was USD 2.9 compared to USD 4.46 a year ago.
UTG, Inc. is an insurance holding company. The Company is engaged in the business of individual life insurance, which includes the servicing of existing insurance business in-force, the acquisition of other companies in the insurance business, and the administration and processing of life insurance business for other entities. It operates through its subsidiary Universal Guaranty Life Insurance Company (UG). UGâs product portfolio consists of a limited number of life insurance product offerings. All the products are individual life insurance products, with design variations from each other to provide choices to the customer. Its Tradition policy is a fixed premium whole life insurance policy. Its annuity product is a five-year, single premium product. The Companyâs investment real estate portfolio includes ownership in oil and gas royalties. Its investment portfolio consists of fixed maturities, equity securities, trading securities, mortgage loans, notes receivable and real estate.
UTG, INC. 