8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

______________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported) August 7, 2019 (August 7, 2019)

NATIONAL WESTERN LIFE GROUP, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware	000-55522	47-3339380
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

10801 N. Mopac Expy Bldg 3
Austin,	Texas	78759
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code (512) 836-1010

Not Applicable

 (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐         Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐          Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of the chapter) or Rule 12-b2 of the Securities Exchange Act of 1934 (§240.12b-2 of the chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02  Results of Operations and Financial Condition

On August 7, 2019, National Western Life Group, Inc. ("Company") announced via press release the Company's financial results for the quarter and six months ended June 30, 2019. A copy of the Company's press release is attached hereto as Exhibit 99.1. This Form 8-K and the attached exhibit are provided under Item 9.01 of Form 8-K and are furnished to, but not filed with, the Securities and Exchange Commission.

The press release is available at the Company's website, www.nwlgi.com.

Item 9.01  Financial Statements and Exhibits
( d ) Exhibits
Exhibit No.	Description
99.1	Press Release dated August 7, 2019

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
	NATIONAL WESTERN LIFE GROUP, INC.
Date: August 7, 2019	/S/Brian M. Pribyl
	Brian M. Pribyl
	Senior Vice President,
	Chief Financial Officer
	and Treasurer

EXHIBT INDEX
Exhibit	Description
99.1	Press Release of National Western Life Group, Inc. issued August 7, 2019 reporting financial results for the quarter and six months ended June 30, 2019.

EX-99.1

EXHIBIT 99.1

National Western Life Group, Inc. Announces 2019 Second Quarter Earnings

Austin, Texas, August 7, 2019 ‑ Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today second quarter 2019 consolidated net earnings of $33.7 million, or $9.53 per diluted Class A common share, compared with consolidated net earnings of $32.5 million, or $9.18 per diluted Class A common share, for the second quarter of 2018. For the six months ended June 30, 2019, the Company reported consolidated net earnings of $73.9 million, or $20.90 per diluted Class A common share, compared with $59.3 million, or $16.78 per diluted Class A common share, a year ago. The Company's book value per share as of June 30, 2019 was $565.22.

The Company reported earnings from operations, excluding net realized gains and losses on investments, of $34.0 million for the quarter ended June 30, 2019, or $9.62 per diluted Class A common share, compared to $30.3 million, or $8.58 per diluted Class A common share in the same period for 2018. For the six months ended June 30, 2019, earnings from operations increased 24% to $70.6 million from $56.7 million reported in the first six months of 2018. Mr. Moody commented on the earnings results saying, "We continue to see favorable trends in core business metrics, most notably in the areas of policy claim benefits and expense levels. Operating earnings are also benefiting this year from improved margins of investment returns above policy contract interest costs."

Total revenues, excluding gains and losses on investments and index options, increased 10% in the first six months of 2019 to $346.6 million from $314.5 million in the comparable period of 2018. Operating revenues, excluding investment and index options gains and losses, increased to $175.3 million in the quarter ended June 30, 2019 from $161.7 million in the second quarter of 2018. Mr. Moody indicated, "As expected, our first quarter acquisition of Ozark National Life and their affiliated broker-dealer has provided a nice boost to our top line results in addition to their contribution to earnings. Our focus now is on building the group's collective sales and marketing initiatives to add organic growth to the success of our acquisition efforts."

National Western Life Group, Inc. is the parent organization of National Western Life Insurance Company and Ozark National Life Insurance Company, stock life insurance companies in aggregate offering a broad portfolio of individual universal life, whole life and term insurance plans, as well as annuity products. At June 30, 2019, the Company maintained consolidated total assets of $12.6 billion, consolidated stockholders' equity of approximately $2.1 billion, and combined life insurance inforce of $24.1 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.

National Western Life Group, Inc.

News Release - Page 2

Summary of Consolidated Operating Results (Unaudited)

(In thousands except per share data)

		Three Months Ended			Six Months Ended
		June 30,			June 30,
		2019		2018	2019	2018
Revenues:
Revenues, excluding investment and index option gains (losses)	$	175,282		161,670	346,560	314,471
Realized and unrealized gains (losses) on index options		17,828		10,292	59,830	(34,102	)
Realized gains (losses) on investments		(425	)	2,696	4,204	3,307
Total revenues		192,685		174,658	410,594	283,676
Earnings:
Earnings from operations	$	34,032		30,336	70,573	56,728
Net realized gains (losses) on investments		(336	)	2,130	3,321	2,613
Net earnings		33,696		32,466	73,894	59,341
Net earnings attributable to Class A shares		32,743		31,548	71,804	57,663
Basic Earnings Per Class A Share:
Earnings from operations	$	9.62		8.58	19.96	16.04
Net realized gains (losses) on investments		(0.09	)	0.60	0.94	0.74
Net earnings		9.53		9.18	20.90	16.78
Basic Weighted Average Class A Shares		3,436		3,436	3,436	3,436
Diluted Earnings Per Class A Share:
Earnings from operations	$	9.62		8.58	19.96	16.04
Net realized gains (losses) on investments		(0.09	)	0.60	0.94	0.74
Net earnings		9.53		9.18	20.90	16.78
Diluted Weighted Average Class A Shares		3,436		3,436	3,436	3,436

Investor Relations Contact:

Brian M. Pribyl - Senior Vice President, Chief Financial Officer and Treasurer

(512) 836-1010

bpribyl@nationalwesternlife.com

www.nwlgi.com

XML

Cover Page	Aug. 07, 2019
Cover page.
Entity Address, State or Province	TX
Document Type	8-K
Entity Incorporation, State or Country Code	DE
Entity File Number	000-55522
Entity Central Index Key	0001635984
Document Period End Date	Aug. 07, 2019
Entity Registrant Name	NATIONAL WESTERN LIFE GROUP, INC.
Entity Tax Identification Number	47-3339380
Entity Address, Address Line One	10801 N. Mopac Expy Bldg 3
Entity Address, City or Town	Austin,
Entity Address, Postal Zip Code	78759
City Area Code	(512)
Local Phone Number	836-1010
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false