National Western Life Insurance has reported consolidated net earnings of $13.40m, or $3.90 per diluted Class A common share, for the second quarter of 2011, compared to $20.22m, or $5.88 per diluted Class A common share, for the same period of 2010.
Total revenues were $140.15m for the second quarter, compared to $96.84m for the same quarter last year.
Net earnings for the quarter were $13.8m, compared to $20.8m in the prior year quarter.
For the six months ended 30 June 2011, the company posted consolidated net earnings of $32m, or $9.04 per diluted Class A common share, compared with $39.2m, or $11.08 per diluted Class A common share, a year ago.
For the first six months of 2011, adjusted operating revenues increased 8% over the comparable period in 2010.
National Western Life Insurance president Ross Moody said despite the uncertainties in the US economy and the global markets overall, the firm continue to be able to grow top line.
"Annuity sales remain strong increasing 9% compared to the first six months of our record year in 2010 and total life sales are up 7% versus what we achieved in the first half of last year," Moody said.