August 07, 2002 at 08:00 PM
NU Online News Service, Aug. 7, 3:52 p.m. – National Western Life Insurance Company, Austin, Texas, is reporting $8.8 million in net income for the second quarter on $72 million in revenue, compared with $16 million in net income on $86 million in revenue for the second quarter of 2001.
The latest net results include $5.5 million in losses on investments in companies such as WorldCom Inc., Clinton, Miss.
Operating income fell to $14 million, from $16 million, National Western says.
National Western sells life insurance and annuities. Sales of universal life, traditional life and annuities were strong, the company says.
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