UTG, Inc. Annual Report: Year Ended December 31, 2011

March 28, 2012

UTG, Inc. (OTCQB: UTGN.OB) reported revenues for its year ended December 31, 2011 decreased 9.1% to $34.96 million compared to revenues of $38.44 million in the prior year.  Revenues for 2011 were negatively impacted by lower premium and policy fees and significantly lower investment income.  These negatives were partially offset by significantly higher realized investment gains.

Net income for 2011 fell 16.9% to $6.32 million or $1.65 per diluted share versus net income of $7.6 million or $1.96 per diluted share for 2010.  The lower net income reported in 2011 was primarily the result of lower revenues and a very small drop in overall expenses.

As of December 31, 2011, the balance sheet reflected investments of $263.16 million, total assets of $433.72 million (including cash and cash equivalents of $82.93 million) and total liabilities of $357.94 million.  During 2011, shareholders’ equity increased 16.4% to $75.79 million.

UTG, Inc. is primarily engaged in the individual life insurance business including the servicing of existing insurance business in force, the acquisition of other companies in the insurance business, and the administration processing of life insurance business for other entities.

Source: UTG, Inc.

Print Friendly

Previous post:

Next post: