Utg, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 13, 2021 at 11:31 pm IST
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UTG, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 7.848 million compared to USD 19.530 million a year ago. Net income was USD 1.798 million compared to USD 11.712 million a year ago. Basic earnings per share from continuing operations was USD 0.57 compared to USD 3.58 a year ago. For the half year, total revenue was USD 31.934 million compared to USD 6.585 million a year ago. Net income was USD 15.967 million compared to net loss of USD 3.266 million a year ago. Basic earnings per share from continuing operations was USD 5.03 compared to basic loss per share from continuing operations of USD 1 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. 
