KC Life reports quarterly profit increase

Kansas City Life Insurance Co. on Friday reported an increase in its fourth-quarter profit, driven by the sale of certain assets in its broker-dealer business.

The Kansas City company earned $7.7 million for the three months that ended Dec. 31, up $1.2 million from the same period in 2013. Revenue fell to $117.7 million in the quarter from $119.5 million in the final quarter the previous year.

For the full year, Kansas City Life earned about $30 million on revenue of $465 million, compared with a profit of $30.1 million on revenue of $483.6 million.

The Star