Austin-based National Western Life Insurance Co. (Nasdaq:NWLI) increased net income to $18.4 million from $15 million year-over-year in the first quarter, according to earnings released Tuesday.
The company posted $5.20 diluted net income per share in the first quarter ended March 31 up from $4.26 per share the same three months last year. Revenue increased 29 percent to $144.3 million.
Shares of National Western increased 1.98 percent to $178 on Tuesday. The stock has traded between $196.80 and $112 a share during the last 52 weeks.
Founded in 1956, National Western is a stock life insurance company offering individual universal life, whole life and term insurance plans, annuity products, and investment contracts. The company employs about 290 and works with 12,500 contracted independent agents, brokers and consultants. It ended the quarter with $7.8 billion in assets.