Tranche Update on UTG, Inc.'s Equity Buyback Plan announced on June 6, 2001.
November 13, 2023 at 02:48 pm EST
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From July 1, 2023 to September 30, 2023, the company has repurchased 16,006 shares, for $0.5 million. With this, the company has completed the repurchase of 1,353,076 shares, for $20.07 million under the buyback announced on June 6, 2001.
UTG, Inc. is an insurance holding company. The Company is engaged in the business of individual life insurance, which includes the servicing of existing insurance business in-force, the acquisition of other companies in the insurance business, and the administration and processing of life insurance business for other entities. It operates through its subsidiary Universal Guaranty Life Insurance Company (UG). UGâs product portfolio consists of a limited number of life insurance product offerings. All the products are individual life insurance products, with design variations from each other to provide choices to the customer. Its Tradition policy is a fixed premium whole life insurance policy. Its annuity product is a five-year, single premium product. The Companyâs investment real estate portfolio includes ownership in oil and gas royalties. Its investment portfolio consists of fixed maturities, equity securities, trading securities, mortgage loans, notes receivable and real estate.
UTG, INC. 
