Utg, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 14, 2020 at 12:42 am IST
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UTG, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 3.347 million compared to USD 4.301 million a year ago. Net loss was USD 2.446 million compared to USD 1.116 million a year ago. Basic loss per share from continuing operations was USD 0.76 compared to USD 0.34 a year ago. For the nine months, total revenue was USD 9.932 million compared to USD 35.179 million a year ago. Net loss was USD 5.713 million compared to net income of USD 13.240 million a year ago. Basic loss per share from continuing operations was USD 1.75 compared to basic earnings per share from continuing operations of USD 4.03 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. 
