National Western Life Group Inc's Corporate Customers have recorded an increase in their cost of revenue by 11.98 % in the 1 quarter 2024 year on year, sequentially costs of revenue were trimmed by -1.74 %. During the corresponding time, National Western Life Group Inc recorded a revenue increase by 29.45 % year on year, sequentially revenue fell by -4.96 %. While revenue at the National Western Life Group Inc 's corporate clients recorded rose by 6.83 % year on year, sequentially revenue grew by 5.02 %.
National Western Life Group Inc's Customers have recorded an increase in their cost of revenue by 11.98 % in the 1 quarter 2024 year on year, sequentially costs of revenue were trimmed by -1.74 %, for the same period National Western Life Group Inc recorded revenue increase by 29.45 % year on year, sequentially revenue fell by -4.96 %.
National Western Life Group Inc's Comment on Sales, Marketing and Customers
National Western offers life insurance and annuity products to both domestic and international markets. Since 2018, the company has discontinued issuing new policies outside the U.S., though it maintained 32,942 international life insurance policies in force as of December 31, 2023. Domestic sales have focused on single premium life products, primarily fixed-index, as part of a wealth transfer strategy. Annuity sales are distributed through multiple National Marketing Organizations (NMOs), with three NMOs accounting for 12%, 12%, and 10% of total annuity sales in 2023. Life insurance sales are also distributed through NMOs, with one NMO responsible for 56% of total domestic life insurance sales in 2023. The company mitigates foreign currency risk by requiring payments in U.S. dollars and maintains an anti-money laundering compliance program. In 2023, premium revenues and deposits totaled $317.9 million for domestic products and $47.7 million for international products. Entities referenced include National Western, NMOs, NWLIC, and Ozark National.
National Western Life Group Inc’s Comment on Sales, Marketing and Customers
National Western offers life insurance and annuity products to both domestic and international markets. Since 2018, the company has discontinued issuing new policies outside the U.S., though it maintained 32,942 international life insurance policies in force as of December 31, 2023. Domestic sales have focused on single premium life products, primarily fixed-index, as part of a wealth transfer strategy. Annuity sales are distributed through multiple National Marketing Organizations (NMOs), with three NMOs accounting for 12%, 12%, and 10% of total annuity sales in 2023. Life insurance sales are also distributed through NMOs, with one NMO responsible for 56% of total domestic life insurance sales in 2023. The company mitigates foreign currency risk by requiring payments in U.S. dollars and maintains an anti-money laundering compliance program. In 2023, premium revenues and deposits totaled $317.9 million for domestic products and $47.7 million for international products. Entities referenced include National Western, NMOs, NWLIC, and Ozark National.
Sources:
National Western Life Group Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: National Western Life Group Inc’s corporate clients.
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