NU Online News Service, March 5, 2004, 2:45 p.m. – National Western Life Insurance Company announced today 2003 consolidated net earnings of $55.8 million, up about 25% over $42.1 million in 2002.[@@]
Total revenue for the company, in Austin, Texas, was $399.3 million last year, up 21% from $317.4 million the year before.
National Western reported total annuity sales in 2003 of $1.19 billion, 64% above the previous company record of $429 million established in 2002.
Ross R. Moody, president of National Western, says the recovery in the equity markets during the year was were especially beneficial to sales of the company’s equity-indexed annuity products, which accounted for 40% of its total annuity sales in 2003.