KC Life Insurance profit declined in fourth quarter and for all of 2016

Kansas City Life Insurance Co. on Monday reported smaller profits for both its fourth quarter and all of 2016.

The company earned $5.6 million in the final quarter of 2016, down about $500,000 from the fourth quarter of the previous year. Revenue for the quarter amounted to $111.7 million, up from $108.9 million in the year earlier period.

For the year, Kansas City Life earned $22.3 million on revenue of $445 million, compared with a 2015 profit of $29.2 million on revenue of $440.9 million.

Kansas City Life said the decline in earnings stemmed primarily from an increase in operating expenses and a decrease in net investment income.

The Star

This story was originally published March 13, 2017 at 1:13 PM with the headline "KC Life Insurance profit declined in fourth quarter and for all of 2016."