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National Western Life Reports Q2, H1 Results

Consolidated net earnings of $18.8 million

National Western Life Insurance has reported the second quarter 2009 consolidated net earnings of $18.8 million, or $5.34 per diluted Class A share, compared to consolidated net earnings of $18.1 million, or $5.10 per diluted Class A share for the second quarter of 2008.

The consolidated net earnings for the first six months of 2009 were $33.9 million, or $9.60 per diluted share, as compared to $32.6 million, or $9.18 per diluted share reported a year ago.

The company’s book value per share at June 30, 2009 increased to $293.20.

Net earnings for the quarter ended June 30, 2009 included after-tax investment gains of $0.1 million, or $0.03 per diluted Class A share. For the first six months of 2009, the company reported after-tax investment losses of $3.4 million, or $0.95 per diluted Class A share, versus after-tax losses of $0.2 million, or $0.06 per diluted Class A share for the same period in 2008.

After-tax earnings from operations, which exclude net realised investment gains and losses, increased nearly 14% for the first six months of 2009 to $37.2 million ($10.55 per diluted Class A share).

National Western Life is a stock life insurance company offering an array of individual universal life, whole life and term insurance plans and annuity products.