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National Western Life Group, Inc. - NWLI STOCK NEWS

Welcome to our dedicated page for National Western Life Group news (Ticker: NWLI), a resource for investors and traders seeking the latest updates and insights on National Western Life Group stock.

National Western Life Group, Inc. Class A (symbol: NWLI) is a prominent player in the insurance industry, offering a diverse range of insurance products designed to meet the financial security needs of its clients. Chartered by the state of Colorado, the company's reach extends to forty-nine states within the U.S., the District of Columbia, and four U.S. territories. Additionally, it is licensed in Haiti and operates globally, accepting applications from non-U.S. residents at its home office in Austin, Texas.

The company's core business includes a portfolio of insurance products such as individual whole life, universal life, and term insurance plans, along with annuities. This diversified product range is structured into four distinct segments: Domestic Life Insurance, International Life Insurance, Annuities, and ONL & Affiliates. With the annuities segment contributing approximately half of the company's revenue, the majority of earnings are derived from the United States.

National Western Life Group's mission is to provide high-quality insurance products worldwide, catering to the savings, protection, and retirement needs of well-defined market segments. The company is committed to offering professional and friendly service to its policyholders and agents, ensuring responsiveness to the needs of employees, shareholders, and the community.

Recent achievements highlight the company's robust financial condition and strategic growth. In the second quarter of 2023, National Western Life Group reported consolidated net earnings of $29.6 million, and its book value per share increased to $626.57. Throughout 2023, despite the new required accounting standard impacting net earnings, the company continued to release competitive new products and reduce administrative cash expenditures.

Significantly, on October 9, 2023, National Western Life Group announced a definitive Merger Agreement with Prosperity Life Group. This all-cash transaction, valued at approximately $1.9 billion, is set to enhance the company's capabilities and deliver greater value to policyholders. The merger is expected to close in the first half of 2024, subject to customary closing conditions and regulatory approvals.

As of the latest financial reports, for the first quarter of 2024, the company reported consolidated net earnings of $73.6 million, with a book value per share rising to $686.73. The company's consolidated total assets stood at $12.1 billion, with consolidated stockholders' equity of $2.5 billion, and combined life insurance in force of $17.7 billion.

With a strong foundation and ongoing strategic initiatives, National Western Life Group, Inc. continues to solidify its position as a leading insurer committed to meeting the financial security needs of its global clientele.

Rhea-AI Summary

National Western Life Group (NASDAQ: NWLI) and Prosperity Life Group announced the expected closing of a $1.9 billion cash merger, following regulatory approvals. S. USA Life Insurance Company, Inc. (SUSA), a subsidiary of Prosperity Life Group, will acquire National Western. The transaction, unanimously approved by National Western's Board of Directors and shareholders, will convert each National Western common share into $500 in cash at closing, anticipated no later than July 11, 2024.

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National Western Life Group, Inc. reported strong first quarter 2024 earnings with net earnings of $73.6 million, revenues increasing by 29% to $197.6 million, and a book value per share of $686.73. The company experienced growth in sales activity, benefiting from equity market gains and rising interest rates. Additionally, they are working on finalizing a merger agreement with Prosperity Life Group.

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National Western Life Group, Inc. reported 2023 consolidated net earnings of $94.4 million, a significant decrease from 2022, due to the new accounting standard LDTI. The Company's pretax earnings were impacted by changes in Market Risk Benefits liability. Despite the earnings swing, Mr. Moody highlighted positive gains in investment returns and operational efficiencies. The Company is progressing towards closing a merger agreement with Prosperity Life Group in the first half of 2024.
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National Western Life Group, Inc. (NWLI) Announces Strong Third Quarter 2023 Earnings and Acquisition Agreement with Prosperity Life Group
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National Western Life Group and Prosperity Life Group announce merger agreement valued at $1.9 billion.
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FAQ

What is National Western Life Group, Inc.?

National Western Life Group, Inc. is an insurance company providing a range of products for savings, protection, and retirement needs.

Where is National Western Life Group, Inc. headquartered?

The company is headquartered in Austin, Texas.

What types of insurance products does National Western Life Group, Inc. offer?

The company offers individual whole life, universal life, term insurance plans, and annuities.

In which regions does National Western Life Group, Inc. operate?

The company operates in forty-nine states in the U.S., the District of Columbia, four U.S. territories, and is licensed in Haiti.

What are the recent financial highlights of National Western Life Group, Inc.?

In the first quarter of 2024, the company reported net earnings of $73.6 million and increased its book value per share to $686.73.

What significant merger was announced recently by National Western Life Group, Inc.?

The company announced a merger agreement with Prosperity Life Group in an all-cash transaction valued at approximately $1.9 billion.

What is the mission of National Western Life Group, Inc.?

The mission is to provide high-quality insurance products globally to meet the financial security needs of defined market segments.

How does National Western Life Group, Inc. support its policyholders?

The company provides professional and friendly service to its policyholders and agents, ensuring responsiveness to their needs.

What is the main revenue segment for National Western Life Group, Inc.?

The annuities segment contributes roughly half of the company's revenue, with most earnings coming from the U.S.

What are the total assets and stockholders' equity of National Western Life Group, Inc. as of March 31, 2024?

The company reported total assets of $12.1 billion and stockholders' equity of $2.5 billion.

National Western Life Group, Inc.

Nasdaq:NWLI

NWLI Rankings

NWLI Stock Data

1.82B
3.44M
1.35%
88.39%
1.83%
Direct Life Insurance Carriers
Finance and Insurance
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United States of America
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