Kansas City Life Insurance Company reported consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $108,008,000 against $119,908,000 a year ago. Net income was $5,188,000 against $19,441,000 a year ago. Net income per share, basic and diluted was $0.47 against $1.72 a year ago. This change was primarily due to $15.4 million of lower realized investment gains in 2013 compared to 2012. Increased policyholder benefits in the first quarter of 2013 also contributed significantly to the change in earnings. Net investment income decreased $1.8 million or 4% versus the same period one year earlier. Investment income results reflected a decrease in market yields that more than offset an increase in average invested assets during the quarter. On April 22, 2013, the Board of Directors of the company declared a quarterly dividend of $0.27 per share that will be paid on May 8, 2013 to stockholders of record on May 2, 2013.

Kansas City Life Insurance Company reported consolidated earnings results for the year ended December 31, 2012. For the year, total revenue was $439.927 million against $419.043 million a year ago. Income before income tax expense was $59.495 million against $39.698 million a year ago. Net income was $39.867 million or $3.59 per basic and diluted share against $26.13 million or $2.29 per basic and diluted share a year ago. The increase in net income was largely due from an increase in realized investment gains of $15.3 million. The increase in earnings was primarily due to increases in realized investment gains and insurance revenues, as well as reduced amortization of deferred acquisition costs (DAC) and lower operating expenses.

Kansas City Life Insurance Company reported earnings results for the fourth quarter of 2012. The company recorded net income of $7.9 million or $0.71 per share in the fourth quarter of 2012, a $2.2 million or $0.20 per share increase versus the same quarter in the prior year. The increase in earnings was primarily due to increases in realized investment gains and insurance revenues, as well as reduced amortization of deferred acquisition costs (DAC) and lower operating expenses. These improvements were partially offset by an increase in policyholder benefits and income tax expense. Total investment revenues, which combines net investment income and net realized gains, increased $1.0 million or 2% for the fourth quarter. These increases were the result of realized gains that the company earned during the year, as several real estate properties were sold during both the fourth quarter and earlier in the year. Net investment income was flat for the fourth quarter, as the decrease in yields more than offset an increase in average invested assets. For the quarter was negatively affected by lower yields on fixed-rate investments.