National Western Life Group, Inc.
nwlgi.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 9, 2024. Its latest SEC filing is a SC 13G/A from Oct 31, 2024.
10-Q for Q1 FY2024, filed May 9, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Issues annuity contracts for people seeking savings and retirement income, and sells life insurance for protection and cash-value accumulation.
10-K for FY2023, filed Feb 29, 2024National Western provides life insurance products on a global basis for the savings and protection needs of policyholders and issues…View ↗
Life Products. National Western's life products provide protection for the life of the insured and, in some cases, allow for cash value…View ↗
Annuity Products. Annuity products sold include flexible premium and single premium deferred annuities, equity-index (fixed-index)…View ↗
How Did They Make Money?
Life policyholders pay premiums for coverage, while annuity holders pay a single premium at issue or make additional payments under flexible-premium contracts.
10-K for FY2023, filed Feb 29, 2024Life Products. National Western's life products provide protection for the life of the insured and, in some cases, allow for cash value…View ↗
Annuity Products. Annuity products sold include flexible premium and single premium deferred annuities, equity-index (fixed-index)…View ↗
The Company, National Western and Ozark National, accepts funds from policyholders or contract holders and establishes a liability…View ↗
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10-K for FY2023, filed Feb 29, 2024
FY2023 revenue by reportable segment ↗
$703.4M
-
10-K for FY2023, filed Mar 1, 2024
$703.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Domestic Life Insurance
Recurring
10-K for FY2023, filed Feb 29, 2024 |
20%
FY2020: 16%
|
Domestic Life Insurance, FY2023
$141.4M Sources
|
Recurring |
|
International Life Insurance
|
16%
FY2020: 17%
|
International Life Insurance, FY2023
$112.4M Sources
|
|
|
Annuities
|
36%
FY2020: 44%
|
Annuities, FY2023
$254.4M Sources
|
|
|
ONL & Affiliates
|
17%
FY2020: 17%
|
ONL & Affiliates, FY2023
$118.9M Sources
|
|
|
All Others
|
7.2%
FY2020: 3.8%
|
All Others, FY2023
$50.4M Sources
|
Who Were Their Customers?
Individuals buy life policies and annuity contracts through independent agents recruited and supported by national marketing organizations; Ozark National agents sell its life coverage alongside mutual fund products through its affiliated broker-dealer.
10-K for FY2023, filed Feb 29, 2024Domestic Insurance Operations. National Western is currently licensed to do business in all U.S. states (except New York) and the District…View ↗
Although reported separately for segment disclosure purposes, domestic insurance operations include the activities of Ozark National. At…View ↗
Ozark National utilizes a unique distribution system to market its flagship Balanced Program which consists of a coordinated sale of a…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2023.
10-K for FY2023, filed Mar 1, 2024
10-K for FY2023, filed Mar 1, 2024
$94.4MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2024, filed May 10, 2024
$73.6MView ↗
- ▲ +498%
- vs $12.3M in Q1 FY2023
10-Q for Q1 FY2024, filed May 9, 2024
Open tableView ↗
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Jul 9, 2024
SUSA completed its acquisition of National Western in an all-cash merger
National Western became a wholly owned SUSA subsidiary and requested delisting of its Class A stock from Nasdaq.
Sources
8-K, filed Jul 9, 2024
At the closing, SUSA acquired National Western in an all-cash merger valued at approximately $1.9 billion. At the effective time of the…View ↗
Shrank. Revenue fell 14% in 4 years, from $819.2M in FY2019 to $703.4M in FY2023, about 4% a year.
Who Did They Compete With?
Competes with Allianz Life, American Equity Investment Life, Sammons Financial Group, Great American Life, Security Benefit Life, Fidelity and Guaranty Life, Athene USA, Jackson National Life, Equitrust, Pacific Life, National Life Group, and Global Atlantic
10-K for FY2023, filed Feb 29, 2024National Western and Ozark National operate in a mature and highly competitive industry. Each competes with hundreds of life and health…View ↗
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