National Western Life to Acquire Ozark National

National Western Life, announced that its wholly owned subsidiary, National Western Life Insurance Company, has entered into a stock purchase agreement to acquire Ozark National Life Insurance Company and N.I.S. Financial Services.

Ozark National and N.I.S., both based in Kansas City, Missouri, are wholly owned subsidiaries of CNS Corporation. Founded in 1964, Ozark National does business in thirty states and has life insurance inforce of over $6 billion. N.I.S. is an affiliated broker-dealer of Ozark National. Under the terms of the agreement, NWLIC will pay CNS Corporation cash in an aggregate amount of approximately $203 million, subject to certain adjustments, in exchange for all of the outstanding stock of Ozark National and N.I.S. Financial Services, Inc. The transaction is expected to close during the first quarter of 2019, subject to customary closing conditions, including regulatory approval.

“The acquisition of Ozark National represents another positive step towards achieving National Western’s strategic growth plans to expand its life insurance sales. We are excited to welcome Ozark National into the National Western family. We believe this acquisition will complement and strengthen National Western by enhancing life premium through Ozark National’s innovative life products and dedicated agent force.” – President and COO of NWLIC, Kitty Kennedy Nelson.

Recall insurance-related acquisitions here.