Prosperity Life, an insurance agency that provides a wide range of life, health, property, and casualty insurance products and services, agreed to merge with National Western Life, a stock life insurance company, in a $1.9bn deal. "The acquisition of National Western represents a significant milestone in the continued expansion of our insurance business. We look forward to welcoming National Western to Prosperity Life Group. National Western's capabilities will further complement our ambition to deliver a compelling value proposition to our policyholders and the company," Nicholas von Moltke, Prosperity Life Group President and CEO.