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National Western Life Announces 2Q Earnings

By August 11, 2015News

AUSTIN, Texas, Aug. 6, 2015 /PRNewswire/ — Ross R. Moody, President and Interim Chief Executive Officer of National Western Life Insurance Company (Nasdaq: NWLI), announced today second quarter 2015 consolidated net earnings of $28.9 million, or $8.16 per diluted Class A common share, compared with consolidated net earnings of $29.2 million, or $8.25 per diluted Class A common share, for the second quarter of 2014. For the six months ended June 30, 2015, the Company reported consolidated net earnings of $50.2 million, or $14.19 per diluted Class A common stock, compared with $49.0 million, or $13.86 per diluted Class A common shares a year ago. The Company’s book value per share increased to $437.86 as of June 30, 2015 from $436.35 at March 31, 2015.

The Company reported earnings from operations, excluding net realized gains and losses on investments, of $26.1 million for the three months ended June 30, 2015, or $7.38 per diluted Class A common share, compared to $27.2 million, or $7.69 per diluted Class A common share, in the same period for 2014. Mr. Moody commented on the earnings results saying, “Operating results were very solid for the quarter. We continue to maintain expense control discipline in keeping costs down and our policy benefits returned to expected levels after running higher than normal in the first quarter.” Earnings from operations for the six months ended June 30, 2015 of $46.8 million, or $13.23 per diluted Class A common share, were slightly higher than the $46.0 million, or $13.02 per diluted Class A common share, recorded during the same period in 2014. Mr. Moody observed, “We are in a very competitive market and in the midst of exceptionally low interest rates. Given that the majority of our products are interest-sensitive, being able to maintain our profitability levels in this environment is very gratifying.”

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