Kansas City Life Insurance Company reported net income of $4.7 million, or $0.49 per share, for the second quarter of 2024, compared to $4.5 million, or $0.46 per share, in the same period in 2023.

The company reported net income of $6.3 million, or $0.65 per share, in the first six months of 2024, up from $1.2 million, or $0.13 per share, in the first half of 2023.

The second quarter 2024 results reflected higher investment income and lower policyholder benefits and operating expenses compared to the second quarter of 2023.

However, these improvements were partially offset by a decrease in insurance revenues and an increase in interest added to policyholder account balances.

The improvement in the first six months of 2024 compared to the previous year was driven by increased investment income and lower policyholder benefits. These gains were partially offset by lower insurance revenues, increased operating expenses and interest added to policyholder account balances.

Kansas City Life Insurance Company’s financial highlights for the second quarter and first half of 2024 include revenue of $122.5 million for the quarter, compared to $124 million in the same period in 2023, and revenue of $249.8 million for the first half of 2024, compared to $249.9 million in the first half of 2023.

Read more: Kansas City Life Inc. reported its third-quarter financial results.

The company paid dividends of $0.14 per share in the second quarter of 2024 and 2023, and $0.28 per share in the first six months of both years. The average number of shares outstanding was 9,683,414 shares in both periods.

Founded in 1895 and headquartered in Kansas City, Missouri, Kansas City Life Insurance Company provides financial protection through the sale of life insurance and annuities. The company operates in 49 states and the District of Columbia.

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