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National Western Life Insurance Closes Reorganisation.


6 October 2015 - US-based insurer National Western Life Insurance Co. (NASDAQ: NWLI) has completed its previously announced holding company reorganisation, under which a new Delaware corporation, National Western Life Group, Inc., has replaced the company as the publicly held corporation, the company said.

The class A shares of common stock of NWLI Delaware have commenced trading on the NASDAQ Global Market under the ticker symbol "NWLI," the same ticker symbol previously used by the company.

As a result of the reorganisation, the company has become a wholly owned subsidiary of NWLI Delaware.

In addition, the company's shareholders have automatically become stockholders of NWLI Delaware on a one-for-one basis, holding the same number and class of NWLI Delaware shares and the same ownership percentage after the reorganization as they held immediately prior to the reorganisation.

The business operations and executive officers of the company will not change as a result of the reorganisation.

National Western Life Group is the parent organization of National Western Life Insurance Co.

Founded in 1956, National Western Life Insurance company is a stock life insurance company offering a 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 countries in Central and South America, the Caribbean, Eastern Europe, Asia, and the Pacific Rim.

National Western Life Insurance Co. has approximately 265 employees and 22,000 contracted independent agents, brokers, and consultants, and at June 30, 2015, maintained total assets of USD 11.5bn, stockholders' equity of USD 1.6bn, and life insurance in force of USD 22.9bn.

Country: USA

Sector: Insurance

Target: National Western Life Insurance Co

Buyer: National Western Life Group, Inc


Deal size in USD:

Type: Reorganisation


Status: Closed

Buyer advisor: , ,


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Publication:M & A Navigator
Date:Oct 6, 2015
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