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National Western Life Announces Reinsurance Transaction News provided by Share this article Share this article AUSTIN, Texas, Jan. 18, 2021 /PRNewswire/ National Western Life Insurance Company ( NWLIC ), a wholly owned subsidiary of National Western Life Group, Inc. (Nasdaq: NWLI), announced today the execution of an annuity reinsurance transaction with Prosperity Life Assurance Limited ( Prosperity ), a Bermuda based reinsurer rated A- (Excellent) by A. M. Best. The effective date of the transaction is December 31, 2020. In a strategic move to expand financial flexibility and provide opportunity for incremental earnings, the Company entered into an annuity reinsurance agreement with Prosperity, an emerging provider of customized and innovative reinsurance solutions to the life insurance and annuity industry, in a transaction encompassing approximately $1.7 billion in fixed annuity reserves. ....