Citizens Financial Corporation is an insurance holding company. Citizens Security Life Insurance Company (Citizens Security) is a wholly owned subsidiary of the Company. It is a holding company that engages in the business of life insurance, annuities, and accident and health insurance through Citizens Security and United Liberty Life Insurance Company (United Liberty), a wholly owned subsidiary of Citizens Security (collectively, the Life Insurance Subsidiaries). Citizens Security also owns Citizens Insurance Company (Citizens Insurance), which is licensed as a property and casualty insurer. The Life Insurance Subsidiaries and Citizens Insurance are herein collectively referred to as the Insurance Subsidiaries. The Life Insurance Subsidiaries are licensed to sell products in 29 states and the District of Columbia.