UTG, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
April 01, 2024 at 06:27 am
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UTG, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported revenue was USD 25.42 million compared to USD 69.71 million a year ago. Net income was USD 1.96 million compared to USD 34.26 million a year ago.
Basic earnings per share from continuing operations was USD 0.62 compared to USD 10.81 a year ago. Diluted earnings per share from continuing operations was USD 0.62 compared to USD 10.81 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. 
