National Western Life Insurance Q4 Profit Rises - Update

(RTTNews) - Friday, stock life insurance company National Western Life Insurance Co. (NWLI: News ), reported an increase in profit for the fourth quarter, helped by higher revenues resulting from realized and unrealized gains on index options and narrow loss from investments.

The Austin, Texas-based company's net profit for the fourth quarter increased to $12.7 million or $3.59 per Class A share, from $10.9 million or $3.06 per Class A common share in the previous year quarter.

Profit for the quarter includes after-tax investment losses of $29,000 or $0.01 per Class A share compared to $2.8 million or $0.79 per share in the year-ago quarter.

Quarterly revenues rose to $153.3 million from $111.1 million in the comparable quarter last year. In the current quarter, the company recorded realized and unrealized gains on index options of $21.5 million compared to a loss of $12.8 million in the last year quarter, and realized losses on investments of $0.04 million, that narrowed from $4.2 million in the year-ago quarter.

Excluding these gains and losses, operating revenues edged up to $131.8 million from $128.2 million in the same quarter last year.

For the year 2009, net income was $45.5 million or $12.87 per Class A share compared to $33.6 million or $9.48 per Class A share a year ago. Operating revenue increased 5% to $528.2 million from $503 million in the prior year.

NWLI is currently trading at $185,down $0.72 or 0.39% on the Nasdaq.

To receive FREE breaking news email alerts for National Western Life Insurance Company and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com