National Western Life Insurance Company has reported consolidated net earnings of $29.2 million for the fourth quarter ended December 31, 2007, compared to $24 million for the corresponding period of 2006.
Earnings from operations, excluding net realized gains and losses on investments, were $28.8 million for the fourth quarter of 2007, compared to $24.4 million for the same period in 2006. Operating revenues, excluding realized investments gains and derivative income, were $126.6 million for the quarter compared to $126 million for the corresponding period in 2006.
For the full-year period ended December 31, 2007, consolidated net earnings were $85.4 million compared to $76.3 million in 2006. Earnings from operations were $83.1 million for the full-year period, compared to $74.6 million in 2006. Operating revenues were $487.7 million in 2007, compared to $475.9 million in 2006.
Ross Moody, president, said: We’re pleased to report another year of record operating earnings as the underlying fundamentals of our business continue to deliver. Our focus on life insurance sales growth materialized during 2007 with an overall 36% increase from the prior year. We issued $3.7 billion of new life insurance coverage representing yet another record for the company.