NU Online News Service, March 11, 10:55 a.m. – National Western Life Insurance Company, Austin, Texas, is reporting $16 million in net income for the fourth quarter of 2001 on $71 million in revenue, up from a $392,000 net loss on $62 million in revenue for the fourth quarter of 2000.
Net results for the latest quarter include $10 million in losses on bonds from Enron Corp., Houston, and other investments. Operating income, which excludes investment losses, increased to $26 million, from $7.9 million.
National Western sells life insurance and annuities.