AUSTIN, Texas, Nov. 9, 2016 /PRNewswire/ -- National Western Life Group, Inc. (Nasdaq: NWLI), announced the appointment of K. Kennedy Nelson to the position of President & Chief Operating Officer of its wholly owned subsidiary, National Western Life Insurance Company ("National Western"), effective as of October 24, 2016. Ms. Nelson will report directly to Chairman and Chief Executive Officer, Ross R. Moody.
Ms. Nelson has been with National Western since 2002 and most recently served as Senior Vice President – Chief Actuary. As President, Ms. Nelson is now responsible for the overall day to day operations of National Western with all senior vice presidents reporting directly to her.
Mr. Moody stated, "I strongly believe that this change, along with Kitty's strong understanding of our business and operations, along with her wealth of experience, will help to better position National Western for the challenges ahead. I look forward to working with her as we continue to navigate the challenges facing the life insurance industry and National Western."
"I am honored by the confidence and trust the Board and Mr. Moody have shown me," Ms. Nelson said. "I will strive to repay that trust by exceeding their expectations and helping guide National Western towards continued success."
About National Western Life Group, Inc.
National Western Life Group, Inc. is the parent organization of National Western. Founded in 1956, National Western is a stock life insurance company offering a broad portfolio of individual universal life, whole life and term insurance plans, annuity products, and investment contracts meeting the financial needs of its customers in 49 states as well as residents of various international countries. National Western has 265 employees and approximately 26,200 contracted independent agents, brokers, and consultants. At September 30, 2016, National Western Life Group, Inc. maintained total consolidated assets of $11.9 billion, stockholders' equity of $1.7 billion, and life insurance in force of $21.1 billion.
Caution Regarding Forward-Looking Statements:
This press release contains statements which are or may be viewed as forward-looking within the meaning of The Private Securities Litigation Reform Act of 2005. Forward-looking statements relate to future operations, strategies, financial results or other developments, and are subject to assumptions, risks, and uncertainties. Factors that may cause actual results to differ materially from those contemplated in these forward-looking statements can be found in the Company's Form 10-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made and the Company undertakes no obligation to update such forward-looking statements. There can be no assurance that other factors not currently anticipated by the Company will not materially and adversely affect our results of operations. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.
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SOURCE National Western Life Group, Inc.