Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 000-55522 NATIONAL WESTERN LIFE GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware ...

EXHIBIT 99.1 National Western Life Group, Inc. Announces 2024 First Quarter Earnings Austin, Texas, May 9, 2024 ‑ Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today first quarter 2024 consolidated net earnings of $73.6 million, or $20.82 per diluted share of Class A Common Stock, compared with consolidated net earnings of $12.3 million, or $3.48 per diluted share of Class A Common Stock for the first quarter of 20 ...

AUSTIN, Texas, May 9, 2024 /PRNewswire/ -- Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today first quarter 2024 consolidated net earnings of $73.6 million, or $20.82 per diluted share of Class A Common Stock, compared with consolidated net earnings of $12.3 million, or $3.48 per diluted share of Class A Common Stock for the first quarter of 2023. The Company's book value per share as of March 31, 2024 was $686.73 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-55522 NATIONAL WESTERN LIFE GROUP, INC. Delaware 47-3339380 (State of Incorporation) (I.R.S. Employer Identification Number) 10801 N. Mopac Expy B ...

EXHIBIT 99.1 National Western Life Group, Inc. Announces 2023 Full Year and Fourth Quarter Earnings Austin, Texas, February 29, 2024 ‑ Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today 2023 consolidated net earnings of $94.4 million, or $26.71 per diluted share of Class A Common Stock, compared with restated consolidated net earnings of $246.5 million, or $69.71 per diluted share of Class A Common Stock for 2022. ...

Commission File Number: 000-55522 NATIONAL WESTERN LIFE GROUP, INC. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ | | | Name of each exchange on which | | --- | --- | --- | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 000-55522 NATIONAL WESTERN LIFE GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 000-55522 NATIONAL WESTERN LIFE GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware ...

Regulatory and Economic Environment - National Western Life Group, Inc. discontinued accepting applications for international life insurance products from foreign nationals outside the U.S. in 2018[203]. - The current economic environment forecasts for 2023 range from muted growth scenarios to potential recessions, impacting personal incomes and financial protection plans[207]. - The company maintains a capital position substantially above regulatory and rating agency requirements to cushion against unexpected economic fluctuations[210]. - Interest rates have been historically low, making it challenging for insurers to achieve competitive pricing on products while meeting minimum interest rate guarantees[208]. Financial Performance - Total revenues for the year ended December 31, 2022, were $558.4 million, a decrease of 32.3% from $824.1 million in 2021[227]. - Net investment income (excluding derivatives) was $351.2 million in 2022, up from $345.8 million in 2021, indicating a growth of 1.3%[234]. - The company ceded net investment income of $67.2 million to reinsurers in 2022, compared to $55.1 million in 2021, marking an increase of 22.3%[240]. - The Company reported net realized and unrealized losses of $(86.9) million in 2022, contrasting with gains of $120.7 million in 2021, indicating significant market volatility[279]. - The Company reported pre-tax earnings in Other Operations of $20.6 million in 2022, down from $24.2 million in 2021, a decrease of 14.9%[369]. Investment Activities - The company’s investment activities are integral to its insurance operations, with anticipated yields reflected in premium rates and contract liabilities[219]. - The debt securities portfolio decreased to $8.7 billion at December 31, 2022, down from $10.1 billion at December 31, 2021, representing a decline of 13.8%[235]. - The weighted average yield on the debt securities portfolio was approximately 3.76% at December 31, 2022, compared to 4.21% in 2021[235]. - The investment portfolio decreased by 13% to $9.6 billion at December 31, 2022, compared to $11.0 billion at December 31, 2021, primarily due to unrealized losses[374]. - The Company holds predominantly agency mortgage-backed securities to manage risks associated with interest-sensitive liabilities, significantly reducing prepayment and extension risks through investments in collateralized mortgage obligations (CMO) with predictable cash flow patterns[382]. Policy and Claims Management - The liability for future policy benefits represents estimates of the present value of expected benefit payments, net of future net premium collections[217]. - Life and other policy benefits decreased to $159,470,000 in 2022 from $187,577,000 in 2021[263]. - The average net claim for National Western life insurance in 2022 was $65,900, a 7% increase from $61,900 in 2021[263]. - The total incurred death claims in 2022 were $35.9 million, down from $39.6 million in 2021, representing a decrease of 9.4%[363]. - The average face value of policies in force was approximately $33,300 as of December 31, 2022, with a total of 171,915 policies representing $5.7 billion of life insurance coverage[361]. Operational Expenses - Other operating expenses increased to $135.8 million in 2022 from $126.6 million in 2021, driven by higher general administrative and compensation expenses[288]. - The Company’s compensation expenses rose to $46.9 million in 2022, up from $40.2 million in 2021, reflecting increased staffing and operational costs[288]. - General administrative expenses for 2022 were $15.1 million for software costs, an increase from $13.8 million in 2021 and $12.6 million in 2020[289]. - Share-based compensation expense rose significantly to $15.2 million in 2022 from $5.8 million in 2021, driven by an increase in the Company's Class A Common Stock price to $281.00[290]. Segment Performance - Segment earnings from domestic life insurance operations decreased to $1,030 thousand in 2022 from $2,548 thousand in 2021[295]. - Total premiums and other revenues for domestic life insurance operations fell to $77,143 thousand in 2022, down from $141,405 thousand in 2021[297]. - International life insurance segment total premiums and other revenues decreased to $77.867 million in 2022 from $131.407 million in 2021, a decline of approximately 40.6%[313]. - Annuity segment total premiums and other revenues decreased to $251.454 million in 2022 from $390.417 million in 2021, a decline of approximately 35.6%[333]. Risk Management - The company's maximum risk exposure per insured life is capped at $500,000 through reinsurance, ensuring controlled risk management[323]. - The Company has no direct holdings of debt securities with operations in Russia, Ukraine, or Belarus, mitigating geopolitical risk exposure[390]. - The Company closely monitors below investment grade holdings, reviewing performance indicators to manage potential credit deterioration risks[390].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 000-55522 NATIONAL WESTERN LIFE GROUP, INC. (Exact name of Registrant as specified in its charter) Dela ...