Insurance company’s new CMO needs to be sold on advertising

Steve’s breakdown: National Western Life spends squat on advertising while their doing $580 million in revenue. WHAT? Someone get in there and straighten the new guy out.

AUSTIN, TX: National Western Life Insurance Company announced today the appointment of R. Bruce Wallace to the position of Senior Vice President and Chief Marketing Officer of its Domestic Insurance operations after an extensive search.

“It was worth the wait to fill the position,” said Kitty Nelson, National Western Life’s President and Chief Operating Officer.  “Bruce brings a wealth of experience in strategic distribution and is the right person to expand the reach of our Domestic Life products.”

Most recently, Wallace was the Senior Vice President and Head of Strategic Distribution for Voya Financial. Previously, he was the Managing General Agent of the Eastern U.S. for Nationwide Financial. Wallace also built two successful financial service agencies with Guardian Life and New York Life. He earned his bachelor’s degree from Baylor University and the Chartered Life Underwriter (CLU) designation from The American College. Wallace remains active with the Life Insurance Marketing Research Association (LIMRA), GAMA International, and NAIFA.

As an industry veteran who has advised or led the marketing and distribution efforts of a number of major carriers, Wallace commented on National Western Life, “The Company has a great foundation in annuity and single premium life sales upon which to build.” He added, “The challenge and opportunity is the same – increase the flow of periodic premium from Domestic Life products. National Western Life is perfectly poised to accomplish this, and that is why I am excited about this opportunity.”

About National Western Life:

National Western Life Insurance Company (NWLIC) is a wholly owned subsidiary of National Western Life Group, Inc. (Nasdaq: NWLI).  Founded in 1956, NWLIC is a stock life insurance company with a broad portfolio of individual universal life, whole life, and term insurance plans, as well as annuity products and investment contracts, meeting the financial needs of its customers in 49 states as well as residents of various international countries. NWLIC has 275 employees and approximately 29,500 contracted independent agents, brokers, producers, and consultants. At March 31, 2017, National Western Life Group, Inc. maintained total consolidated assets of $12.0 billion, stockholders’ equity of $1.7 billion, and life insurance in force of $20.5 billion.

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