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National Western Life acquiring Ozark National Life, broker affiliate

National Western Life Insurance Co., a unit of National Western Life Group Inc., has entered into a stock purchase agreement to acquire Ozark National Life Insurance Co. (MO) and N.I.S. Financial Services Inc., both wholly owned subsidiaries of CNS Corp.

National Western Life Insurance will pay CNS Corp. cash in an aggregate amount of approximately $203 million, subject to certain adjustments, in exchange for all the outstanding stock of the subsidiaries.

The transaction is expected to close during the first quarter of 2019, subject to customary closing conditions, including regulatory approval.

Merger & Acquisition Services Inc. served as the financial adviser to National Western Life Insurance.

N.I.S. Financial Services is an affiliated broker/dealer of Ozark National.