natl western life ins-cl a (NWLI) Key Developments
National Western Life Insurance Company Adds Living Benefit Riders to Term Products
Jul 9 15
National Western Life Insurance Company announced that it has added a suite of Accelerated Death Benefit Riders to its term product series, NWL Term and NWL Secure Term. The riders, generally known as Living Benefits, provide an advance of the death benefit for terminal illness, chronic illness and critical illness. For those who qualify, the rider can accelerate a lump sum benefit payment of up to 90% of the Face Amount of the policy, less an actuarial discount determined by the Company, and less an administrative fee (other terms and conditions apply). The amount of the actuarial discount is based on the age and severity of the applicable terminal illness, chronic illness or critical illness. NWL Term and NWLSecure Term are level term insurance products with guaranteed premiums for 10, 15, 20 or 30 years.
National Western Life Insurance Company Announces Management Changes
Jun 23 15
The board of directors of National Western Life Insurance Company appointed Ross R. Moody as President and Interim Chief Executive Officer of the company. Mr. Moody has served as a member of the company’s board of directors since 1981 and as the company’s president and chief operating officer since 1992. Mr. Moody will serve as the company’s interim chief executive officer until the company appoints a permanent chief executive officer. Mr. Moody will not receive any additional compensation while assuming the duties of interim chief executive officer. Robert L. Moody, who served as chief executive officer until June 19, 2015, will continue to serve as chairman of the board.
National Western Life Insurance Company Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 8 15
National Western Life Insurance Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported earnings from operations of $20,690,000 or $5.85 per basic and diluted share compared to $18,842,000 or $5.33 per basic and diluted share a year ago. Total revenues were $147,890,000 against $158,003,000 a year ago. Net earnings attributable to Class A shares were $20,723,000 against $19,265,000 a year ago. Net earnings attributable to Class A shares were $6.03 per basic and diluted share against $5.61 per basic and diluted share a year ago. The company's book value per share increased to $436.35 as of March 31, 2015 from $428.01 at December 31, 2014.
National Western Life Insurance Company, Annual General Meeting, Jun 19, 2015
Apr 7 15
National Western Life Insurance Company, Annual General Meeting, Jun 19, 2015., at 09:00 Central Standard Time. Location: Moody Gardens Hotel. Agenda: To consider and approve the reorganization of the company pursuant to which the present company will become a subsidiary of a newly formed Delaware corporation named National Western Life Group, Inc. (the holding company); to elect ten directors; and to ratify the company's auditors.
National Western Life Insurance Company Announces Amendment and Restatement to its Bylaws
Mar 20 15
On March 16, 2015, National Western Life Insurance Company, amended and restated the company's Bylaws. The amendments made to the Bylaws consist of various minor revisions made primarily to update and clarify the Bylaws. These amendments include, among other things: changing the term company' to corporation' throughout the document; changing the term stockholder' to shareholder' throughout the document; amending Section 2.02 to provide that the time and date of the annual meeting be determined by the Board of Directors as opposed to being limited to the period between March 31 and July 31; amending Section 2.03 to reduce the number of shares required to call a special meeting from 25% to 10%; amending Section 2.04 to require at least a 30 day notice if the number of authorized shares is to be increased; amending Section 3.03 so that only shareholders are able to remove directors from the Board of Directors; amending Section 3.14 to specify that the Chairman of the Board is not an officer position of the company and is separate from the Chief Executive Officer position; and amending Section 4.01 to include the Chief Executive Officer as an officer position elected by the Board of Directors.