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The new Northwestern National Life Building was designed by Minoru Yamasaki and was opened in 1964. [2] The Loring Park building was renamed the "Loring Park Office Building" in 1966 and was subdivided to house a number of businesses. [2]
Architecture critic Larry Millett calls it, "a temple to the gods of underwriting, built by an insurance company and mixing luxury and high camp in way that, say, Liberace would have appreciated" and "a high point of 1960s modernism in Minneapolis." [1] The company had 475 employees working in the home office in 1964, when this building opened.
On 9 October 2023, the company announced an agreement where S. USA Life Insurance Company, Inc., an affiliate of Prosperity Life Group, will acquire National Western in an all-cash transaction valued at approximately $1.9 billion. [6] The merger was completed in July 2024 with its stock being delisted from the Nasdaq. [7]
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Shares of National Western, which offers life insurance plans as well as annuity products, were up 13.6% at $474.10. "The acquisition of National Western represents a significant milestone in the ...
The number of members did decline, however, as some units in the group merged while others were sold off. Membership fell to 83 by 1940, then to 70 by 1952. One of Banco's strategic advantages in the long run was its ability to operate in multiple states.
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