Utg, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 11, 2020 at 09:33 pm IST
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UTG, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced total revenue was USD 19.530 million compared to USD 9.814 million a year ago. Net income was USD 11.712 million compared to USD 2.712 million a year ago. Basic earnings per share from continuing operations was USD 3.58 compared to USD 0.82 a year ago. For the half year, total revenue was USD 6.585 million compared to USD 30.878 million a year ago. Net loss was USD 3.266 million compared to net income of USD 14.356 million a year ago. Basic loss per share from continuing operations was USD 1 compared to basic earnings per share from continuing operations of USD 4.36 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. 
