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National Western Reports Lower 2nd Quarter Net Income

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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.

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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.