Kansas City Life Sees COVID-19 Chilling the Economy
May 6, 2020 by Allison Bell
COVID-19-related economic turmoil chilled earnings at Kansas City Life Insurance Company in the first quarter.
The Kansas City, Missouri-based life insurer is reporting $150,000 in net income for the quarter on $123 million in revenue, compared with $4 million in net income on $130 million for the first quarter of 2019.
The company is keeping its dividend on common stock at 27 cents per share.
The COVID-19 pandemic “has dramatically impacted both financial markets and the overall economy,” the company said in a comment included in the earnings announcement.