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XCITIZENS CITIZENS ANNOUNCES Q1 2021 FINANCIAL RESULTS Class B Stock purchase paves the way for one class of voting stock Recruiting and training efforts strengthen distribution trends AUSTIN , TX - May 5 , 2021 - Citizens , Inc. ( NYSE : CIA ) today announced Q1 2021 financial results showing a loss per share of ( $ 0.07 ) . Despite an ongoing complex COVID - 19 environment and continuing legal expenses associated with the Company's change - in - control , results were consistent with the prior year . Gerald W. Shields , Vice - Chairman of the Board and interim CEO , said , " 2021 is a significant milestone in our history with the recently announced approval to purchase all of the Class B shares from the Harold E. Riley Foundation . This transaction gives control back to the Company enabling one class of voting shares to elect all directors . " Mr. Shields went on to say , " With this significant distraction behind us , we are now energized around the execution of our long - term strategy focused on sustainable growth . At the core , our success lies in continuous improvement in service , differentiated product innovation and increased distribution capability . During the first quarter , we intensified distribution activities with a heightened focus on recruiting and training efforts . As a result , we saw significant improvement in trends with a 5 % increase in the number of agents and a 22 % increase in new policies issued versus the first quarter last year . These new programs are helping to boost the number of new agents and improve productivity . While there is more work to be done , we are excited about the increased momentum in the field and the potential for growth as we recruit for the future . " Q1 Financial Highlights ( versus Q1 2020 ) • • Net loss of ( $ 0.07 ) per share of Class A common stock , consistent with the prior year Revenue flat on lower renewal premiums and improved realized investment results • • First year premiums down ( 4 % ) -- Life Insurance segment ( 9 % ) , Home Services segment + 5 % Number of policies issued up 22 % -- Life Insurance segment + 19 % , Home Services segment + 23 % • General expenses down ( 1 % ) despite change - in - control related expenses • Claims and surrenders up 16 % on increased death claims and matured endowments • Closure of legacy international withholding tax issues with the IRS Net loss of ( $ 0.07 ) per Class A share , equal to the prior year , on higher claims and surrenders , partially offset by improved realized investment results . The first quarter of 2021 was negatively impacted by legal expenses surrounding the change - in - control of the Company .