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National Western Life Insurance Q4 net earnings down

National Western Life Insurance reported Q4 08 consolidated net earnings of $10.9m compared with $29.2m for Q4 07

The National Western Life Insurance has reported fourth quarter 2008 consolidated net earnings of $10.9m, or $3.06 per diluted class A common share, compared with consolidated net earnings of $29.2m, or $8.22 per diluted class A common share, for the same quarter of 2007.

Operating revenues, excluding realised investment gains (losses) and realised and unrealised gains (losses) on index options, totaled $128.2m for the fourth quarter of 2008, compared to $126.6m reported in the corresponding quarter of 2007.

For the year ended December 31, 2008, the company reported consolidated net earnings of $33.6m, or $9.48 per diluted class A common share, compared with $85.4m, or $23.95 per diluted class A common share, in 2007. Operating revenues for 2008 increased 3% to $503m in 2008, from $487.7m in 2007.

Net earnings for the fourth quarter and year ended December 31, 2008 included after-tax investment losses of $2.8m and $17m, or $0.79 and $4.80 per diluted class A share, respectively.

National Western Life Insurance is a life insurance company. National Western operates within segments organised along product types and geographic marketing areas. These operating segments include domestic life insurance, international life insurance and annuities.