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National Western Life

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National Western Life Insurance Group, Inc.
Nasdaq: NWLI[1]
Russell 2000 Component
IndustryLife insurance
Financial services
Founded1956; 68 years ago (1956)
HeadquartersAustin, Texas, U.S.
Key people
  • Robert L. Moody
  • Ross R. Moody (CEO)
ProductsLife insurance
Annuities
Financial products
Number of employees
  • 275 Home Office Employees,
  • 25,200 Domestic appointed independent agents/brokers
Websitenationalwesternlife.com

National Western Life Insurance Company is an American stock life insurance company headquartered in Austin, Texas.[2][3]

History

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The company was founded in 1956, and as of 2019 it has about 275 employees and 25,200 contracted independent agents and operates in 49 US states.

On 1 January 2020, National Western Life Insurance Company (NWLIC) confirmed the formation of The Sterling Group, a strategic partnership between itself and six large regional marketing organizations. Such strategic marketing agencies include Excel Advisors, CreativeOne, Financial Independence Group, Gradient Insurance Brokerage, Impact Partnership and M&O Marketing.[4]

Products

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The company offers individual universal life plans, term insurance plans, and whole life plans as well as offering annuities and life insurance products for foreign nationals.[1][5]

Acquisition by Prosperity Life Group.

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On 9 October 2023, the company announced an agreement where S. USA Life Insurance Company, Inc., an affiliate of Prosperity Life Group, will acquire National Western in an all-cash transaction valued at approximately $1.9 billion.[6] The merger was completed in July 2024 with its stock being delisted from the Nasdaq.[7]

See also

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References

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  1. ^ a b "National Western Life Group, Inc. Announces 2018 Full Year and Fourth Quarter Earnings". February 28, 2019. Retrieved May 13, 2019.
  2. ^ "Contact Us." National Western Life. Retrieved May 13, 2019. "Address 10801 N Mopac Expy, Bldg. 3. Austin, TX 78759-5415"
  3. ^ "Current Technicals: National Western Life Group." Regents Global Market. April 25, 2019.
  4. ^ "National Western Life to Launch The Sterling Group, an Exclusive Alliance with Key NMOs". Cision PR Newswire. February 4, 2020. Retrieved July 28, 2020.
  5. ^ "National Western Life Adds Policy Aimed at Foreign Nationals". Think Advisor. Retrieved May 13, 2019.
  6. ^ "National Western and Prosperity Life Group Announce $1.9 Billion Cash Merger". www.prnewswire.com. National Western Life Group Inc. October 9, 2023. Retrieved October 9, 2023.
  7. ^ "National Western and Prosperity Life Group Announce Closing of $1.9 Billion Cash Merger" (Press release). PR Newswire. July 9, 2024.
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