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National Western Life Insurance Company Message Board

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  • bbarberayr bbarberayr Dec 22, 2011 3:33 PM Flag

    Management is not stiffing shareholders

    The other thing to think about is NWLI is by no means the only insurance company suffering from valuation issues.

    Look at HIG which trades at a similar P/B and even lower P/E. The difference however is that HIG (and MET and others) have committed to returning capital to shareholders whereas NWLI has pretty much committed to NOT doing this.

    Seems like a no-brainer to buy back some share at current levels. Would actually help the Moody's increase their wealth faster as their ownership of the company would increase as would their share of the company so would be a win for both sides.

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    • do you have thoughts on EITF 09-G which i think has the potential to cause a hit to book value?

      i think for example HIG is going to be hit with 25% DAC balance. this would be a minimum of 60 dollar hit to book value here.

      also, it appears that MET is changing around some of its policies at year end. do you know the details on this

      while i think the stock is cheap, and i am doing more work on it clearly there are some issues with low ROE, lack of management action, DAC charges and also just lack of scale.

      the management has had a decent track record of increasing book value here. i have to give that to them. doesn't mean anything if investors don't see it.

251.38-3.1900(-1.25%)Feb 27 4:00 PMEST

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