National Western Life Insurance Company (NWLI, Financial) filed Quarterly Report for the period ended 2009-06-30.
NATL WESTN LIFE INS AUSTIN TX is a life insurance corporation doing business in 43 states and the District of Columbia. It also accepts applications from and issues policies to residents of several Central and South American countries. Such policies are issued in the United States. National Western Life Insurance Company has a market cap of $586.14 million; its shares were traded at around $161.65 with a P/E ratio of 10.36 and P/S ratio of 1.43. The dividend yield of National Western Life Insurance Company stocks is 0.22%.
Management has placed considerable emphasis on building domestic life insurance sales over the past several years as a strategic focus for future growth. This focus was partially in response to comments from outside rating agencies who expressed a preference for a greater proportion of overall Company earnings to derive from the life insurance line of business. The Company s domestic operations have historically been more heavily skewed toward annuity sales than life insurance sales. The Company spent the greater part of 2003 and 2004 revamping its domestic life operations by changing the way it contracts distribution for life business, eliminating products and distribution that had not contributed significantly to earnings, and creating new and competitive products. A single premium universal life ("SPUL") product was launched at the end of 2003 beginning a diversification of the Company\'s product portfolio away from smaller dollar face amount policies. The Company released its first fixed equity-indexed universal life ("EIUL") product for its domestic markets at the end of 2005 and this product has subsequently accounted for 40% to 60% of domestic life insurance sales.
Year-to-date, the Company has recorded sales to residents outside of the United States in over thirty different countries with Brazil (22%), Taiwan (18%), and Colombia (10%) making up the largest markets.
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NATL WESTN LIFE INS AUSTIN TX is a life insurance corporation doing business in 43 states and the District of Columbia. It also accepts applications from and issues policies to residents of several Central and South American countries. Such policies are issued in the United States. National Western Life Insurance Company has a market cap of $586.14 million; its shares were traded at around $161.65 with a P/E ratio of 10.36 and P/S ratio of 1.43. The dividend yield of National Western Life Insurance Company stocks is 0.22%.
Highlight of Business Operations:
Life insurance sales as measured by annualized first year premiums declined 38% in the second quarter of 2009 as compared to the second quarter of 2008 and declined by the same percentage for the first six months of 2009 compared to the same period in 2008. Both of the Company\'s life insurance lines of business, international and domestic, posted decreases over the comparable results in 2008 with international sales 32% and 27% lower for the three and six month periods ended June 30, 2009, respectively, and domestic life sales down 58% and 67% for the same three and six month periods.Management has placed considerable emphasis on building domestic life insurance sales over the past several years as a strategic focus for future growth. This focus was partially in response to comments from outside rating agencies who expressed a preference for a greater proportion of overall Company earnings to derive from the life insurance line of business. The Company s domestic operations have historically been more heavily skewed toward annuity sales than life insurance sales. The Company spent the greater part of 2003 and 2004 revamping its domestic life operations by changing the way it contracts distribution for life business, eliminating products and distribution that had not contributed significantly to earnings, and creating new and competitive products. A single premium universal life ("SPUL") product was launched at the end of 2003 beginning a diversification of the Company\'s product portfolio away from smaller dollar face amount policies. The Company released its first fixed equity-indexed universal life ("EIUL") product for its domestic markets at the end of 2005 and this product has subsequently accounted for 40% to 60% of domestic life insurance sales.
Year-to-date, the Company has recorded sales to residents outside of the United States in over thirty different countries with Brazil (22%), Taiwan (18%), and Colombia (10%) making up the largest markets.
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