RIVERWOODS, Ill., April 25, 2023 (GLOBE NEWSWIRE) — Federal Life Group, Inc. (the “Company”) (OTCMKTS: FLFG), the holding company of Federal Life Holding Company and its subsidiaries, today announced it will no longer provide current information to the OTC Markets in April 2023 and expects to drop to the OTC Expert Tier. The Company can give no assurance that trading in its common stock will continue on the OTC Markets or any other securities exchange or quotation medium.
The Company’s Form S-1, effective October 11, 2018, relating to the Company’s initial public offering discussed the additional financial, reporting and corporate governance requirements associated with being a listed, reporting company, and the significant commitment of additional expense and other resources that would be required. In line with this disclosure, and after review and careful consideration of the administrative burden and costs and benefits of reporting to the OTC Markets, the Company has made the decision to cease providing information to the OTC Markets, which is expected to result in the Company dropping down reporting tiers on the OTC markets. The savings derived from this are expected to be financially meaningful.
About Federal Life Group, Inc.
The Company is the holding company for Federal Life Holding Company and its subsidiaries, which include Federal Life Insurance Company, an Illinois domiciled insurance company. Federal Life Insurance Company is an independently operated provider of quality life and health insurance and annuity products. For more information, please visit www.federallife.com, https://aboutus.federallife.com/022823/.