Wed, May 15, 10:09 AM (73 days ago)
US Alliance Corporation's Q1 2024 10-Q report shows a stable financial position with slight improvements. Total assets increased by 1% to $127.3 million, primarily due to higher fixed maturity securities and cash equivalents. Investment income rose by 11% to $1.67 million, driven by better yields. Premium income grew by 10%, reflecting increased direct and assumed premiums. However, net income dropped to $13,957 from $275,451 in Q1 2023, mainly due to higher audit and actuarial expenses. Policy liabilities rose by 1%, aligning with the growth of the in-force business. The company maintains a diversified investment portfolio, focusing on investment-grade debt securities, and has adequate liquidity to meet obligations. Future financial performance may be impacted by ongoing market conditions and regulatory changes.