National Western Life Announces Organizational Changes
May 22 2009 - 1:30PM
PR Newswire (US)
AUSTIN, Texas, May 22 /PRNewswire-FirstCall/ -- Ross R. Moody,
President of National Western Life Insurance Company (NASDAQ:NWLI),
announced today senior level organizational role changes in
conjunction with a multi-million dollar project to implement five
new service solutions augmenting the Company's enterprise-wide
systems and capabilities. Michael P. Hydanus, Senior Vice President
and Chief Information Officer, was assigned additional
responsibilities as the Chief Administrative Officer of National
Western Life. In his new role as Senior Vice President, Chief
Administrative Officer, Mr. Hydanus will be responsible for
integrating enhanced system technology associated with the
multi-million dollar project into the daily operational and
administrative service processes of the Company. Mr. Moody
indicated, "Mike's past experience in similar roles with other
insurance companies and as a consultant to the insurance industry
uniquely position him to lead us in this significant investment in
upgrading our information technology and operational
infrastructure." The five system projects are expected to be
completed and operational in various phases within the next one to
three years. Brian M. Pribyl, previously Senior Vice President,
Chief Financial and Administrative Officer, will relinquish his
responsibilities as Chief Administrative Officer to focus upon the
Company's financial reporting and regulatory requirements. "In the
past five or six years, the additional requirements placed upon
public companies by the Securities and Exchange Commission through
Sarbanes-Oxley and the current financial crisis, along with
evolving accounting standard changes, have made the CFO job more
demanding and this shift in responsibilities will allow Brian to
devote more of his time to these matters," Mr. Moody noted. Founded
in 1956, National Western Life is a stock life insurance company
offering a broad 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.
The Company has approximately 290 employees and 9,700 contracted
independent agents, brokers and consultants, and at March 31, 2009,
maintained total assets of $6.9 billion, stockholders' equity of
$1.0 billion, and life insurance in force of $18.7 billion.
CONTACT: Brian Pribyl 512-836-1010 DATASOURCE: National Western
Life Insurance Company CONTACT: Brian Pribyl of National Western
Life Insurance, +1-512-836-1010, Web Site:
https://www.nationalwesternlife.com/
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