CITIZENS, INC. (NYSE:CIA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02 – DepartureofDirectorsorCertain Officers;Electionof
Directors; Appointment of Certain Officers;
CompensatoryArrangements of Certain Officers
|
Item9.01- Financial Statements and Exhibits |
||
|
Exhibit Index |
Table of Contents
Item5.02 – Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers
On February22, 2017, Citizens, Inc. (Citizens) announced the
appointment of Gerald W. Shields, 59, as a director, effective
immediately. Mr.Shields joins Citizens Board of Directors with
over 37 years of technology experience, including significant
life insurance experience as the Senior Vice President and Chief
Information Officer of AFLAC, Inc., a leading provider of
supplemental insurance. During the last five years, Mr.Shields
has served as Director of the IT practice at RE Nolan, a
management-consulting firm that caters to the insurance, health
care, technology, and banking industries. He also currently
serves as the Chief Information Officer of FirstCare Health
Plans, a provider of comprehensive health care services to health
maintenance organization (HMO) subscribers that also owns
Southwest Life Health Insurance Company which offers the
FirstCare PPO and life insurance products. Mr.Shields brings
Citizens board expertise in technology, cybersecurity and
insurance operating systems, having significant experience
directing these areas throughout his career.
Mr.Shields fills the open Board seat vacated by former Chairman
and Chief Executive Officer Rick D. Riley, having been elected by
the currently serving Class B directors in accordance with the
Colorado Business Corporation Act and Citizens bylaws. At the
time of this announcement, Mr.Shields has not been appointed to
serve on any Committees of the Board.
A copy of the press release issued by Citizens regarding this
announcement is attached as Exhibit 99.1 and is incorporated
herein by reference.
Item9.01 – Financial Statements and Exhibits
| (d) | Exhibits |
| 99.1 | News Release issued by Citizens, Inc. on February22, 2017. |
1
Table of Contents
About CITIZENS, INC. (NYSE:CIA)
Citizens, Inc. is an insurance holding company. The Company operates in three business segments: Life Insurance, Home Service and Other Non-Insurance Enterprises. The Life Insurance segment issues ordinary whole life insurance in the United States and in the United States Dollar-denominated amounts to foreign residents. It operates this segment through its subsidiaries, including CICA Life Insurance Company of America (CICA) and Citizens National Life Insurance Company (CNLIC). The Home Service segment sells limited-liability, named peril property policies covering dwelling and contents. Its home service insurance products consist of small face amount ordinary whole life and pre-need policies, which are designed to fund final expenses for the insured, primarily consisting of funeral and burial costs. The Other Non-insurance Enterprises segment includes Computing Technology, Inc. and Insurance Investors, Inc. This segment also includes the results of Citizens, Inc., the parent company. CITIZENS, INC. (NYSE:CIA) Recent Trading Information
CITIZENS, INC. (NYSE:CIA) closed its last trading session up +0.15 at 9.01 with 99,802 shares trading hands.