They're not just standing on the corner of 12th Street and Vine! Kansas City Life Insurance and subsidiary Sunset Life provide insurance products throughout the US to individuals (life and disability coverage and annuities) and to groups (life, dental, vision, and disability insurance). Subsidiary Old American Insurance focuses on burial and related insurance. The insurance companies sell through more than 1,400 independent agents, brokers, and third-party marketers. Kansas City Life Insurance also operates its own insurance and investment brokerage network through its Sunset Financial Services unit. Chairman and CEO R. Philip Bixby and his family control the company.
Kansas City Life offers both universal and variable life policies throughout the US. Some of its largest state markets include Missouri, Texas, Kansas, California, and Colorado. The company is focused on expanding its individual life insurance operations by widening its distribution network and enhancing its marketing efforts. For instance it has marketing agreements with health plan provider American Republic Insurance and property/casualty firm GuideOne Insurance, which distribute the life policies of Kansas City Life to their respective members and policyholders.
Founded in 1895, the company built up its operations through a number of historical acquisitions, including GuideOne Life (2003), Old American (1991), and Sunset Life (1974). The company exited its banking operations (Generations Bank) in 2007.
Kansas City Life Insurance recorded a 3% drop in revenues to $419 million in 2011 compared to 2010. Its net income, however, showed positive growth at $26 million, with a 15% increase over 2010. Increased investment revenues and lower policyholder benefits were the main factors contributing to its improved results. The company's assets and life insurance in force were $4 billion and $29 billion, respectively.
The Bixby family owns about 60% of the company through trusts and investment partnerships. – less