Welcome to our dedicated page for Globe Life news (Ticker: GL), a resource for investors and traders seeking the latest updates and insights on Globe Life stock.
Globe Life Inc. (NYSE: GL) has been safeguarding families' futures since its inception in 1900. Renowned for its robust financial condition and commitment to integrity, Globe Life is a leading insurance holding company. The company's core operations are segmented into life insurance, supplemental health insurance, annuities, and investments.
Life Insurance: A significant portion of Globe Life's operations involves offering life insurance policies, making it a trusted provider in the industry with 75% of the company’s insurance underwriting margin for the recent quarter attributed to life insurance.
Supplemental Health Insurance: Globe Life provides a variety of supplemental health insurance products, designed to support customers beyond basic health insurance coverages. This segment accounted for 24% of the underwriting margin for the recent quarter.
Annuities: The company also offers annuities which provide financial security for customers' retirement, adding a vital component to the company's diverse product portfolio.
Investments: Managed by the investment segment, Globe Life's investment activities focus on fixed maturities, ensuring yields and terms that support insurance product obligations. Notably, 97% of these investments are rated 'investment grade,' reflecting strong financial health.
Recently, Globe Life reported commendable financial performance for the quarter ended March 31, 2024, with net income of $2.67 per diluted share. The company's financial stability is underscored by an A+ rating from A.M. Best, based on their analysis of financial strength and management integrity. Additionally, Globe Life is not involved in credit default swaps and maintains a solid, stable cash flow from its operations.
For the year ending December 31, 2024, Globe Life projects net operating income between $11.30 to $11.80 per diluted share, demonstrating its optimistic outlook and strategic financial planning. Key recent achievements include a notable increase in net sales of life insurance by 7% and health insurance by 9% for the first quarter of 2024, showcasing growth in its primary product lines.
Globe Life also remains active in shareholder returns, repurchasing 660,170 shares at a cost of $77 million in the previous quarter, reflecting confidence in the company's valuation and future prospects. The company continues to engage with shareholders through regular updates, as seen in its upcoming earnings release and conference call schedules.
Stay informed on the latest developments and insights by visiting Globe Life's investor relations page at https://investors.globelifeinsurance.com/, where detailed financial reports and other relevant information are readily accessible.
Globe Life Inc. (NYSE: GL) has renewed its endowment with UT Southwestern Medical Center, pledging $300,000 to support family medicine initiatives. This commitment is part of Globe Life's mission to help Make Tomorrow Better. The company has supported UT Southwestern since 2013, and the funds are allocated to the Globe Life Community Medicine Fund. Joel Scarborough, a corporate VP at Globe Life, shared his personal gratitude for the care he received at UT Southwestern, emphasizing its impact on patient care and community health. Globe Life is the leading issuer of ordinary individual life insurance policies in the U.S.
Globe Life Inc. (NYSE: GL) announced that its Co-Chief Executive Officers, Matt Darden and Frank Svoboda, along with Chief Financial Officer Tom Kalmbach, will present at the Raymond James 2023 Institutional Investors Conference on March 7, 2023, starting at 8:40 a.m. ET. The presentation will be available via live webcast, allowing investors and stakeholders to participate remotely. Globe Life specializes in life and supplemental health insurance, primarily for middle-income Americans.
For more information, visit the investor relations page or access the webcast here.
On February 23, 2023, Globe Life Inc. (NYSE: GL) announced a quarterly dividend increase to $.2250 per share, payable on May 1, 2023, to shareholders on record as of April 3, 2023. The company also appointed Alice S. Cho and David A. Rodriguez to its Board of Directors, enhancing its governance with their expertise in financial services, risk management, and human resources. Cho's background includes roles at the Boston Consulting Group and the Federal Reserve, while Rodriguez brings extensive experience from his career at Marriott International and Citigroup. Globe Life focuses on providing life and supplemental health insurance to middle-income Americans.
Globe Life Inc. (NYSE: GL) announced that Co-CEOs Matt Darden and Frank Svoboda, along with CFO Tom Kalmbach, will present at the Bank of America Securities Financial Services Conference 2023. The presentation is scheduled for February 14, 2023, at 3:20 p.m. ET. Interested parties can access the live webcast through the company's investor relations website or via the Bank of America link.
Globe Life specializes in life and supplemental health insurance for middle-income Americans, marketed through various channels including direct consumer and agency sales.
Globe Life Inc. (NYSE: GL) reported increased earnings for Q4 2022, with net income of $2.14 per diluted share, up from $1.76 in Q4 2021. Net operating income improved to $2.24 from $1.70 per share. For the full year, net income rose to $7.47 per share, while net operating income increased to $8.15. Notably, net sales of life and health insurance saw growth, with life premiums climbing 5% and health premiums up 7%. The company repurchased 489,708 shares during Q4 2022. COVID-19 related claims decreased significantly, totaling $5 million for Q4 2022 compared to $58 million the previous year. For 2023, net operating income guidance ranges between $10.20 to $10.50 per diluted share.
Globe Life Inc. (NYSE: GL) is set to release its Fourth Quarter 2022 earnings on February 1, 2023, after market close. The press release will include financial and statistical information, available on their website at investors.globelifeinsurance.com. A conference call will follow on February 2, 2023, at 10:30 AM Eastern, allowing investors to gain insights into the company's performance. Globe Life specializes in providing life and supplemental health insurance targeted at middle-income Americans through various distribution channels.
Globe Life Inc. (NYSE: GL) is set to release its Fourth Quarter 2022 earnings on February 1, 2023, after market close. The earnings press release and related financial information will be available on the company’s website. A live conference call is scheduled for February 2, 2023, at 10:30 AM Eastern, allowing investors to gain insights on the company's performance. Globe Life, a holding company specializing in life and supplemental health insurance for middle-income Americans, utilizes multiple distribution channels for its services.
Globe Life Inc. (NYSE: GL) has declared a quarterly dividend of $.2075 per share, payable to shareholders of record as of January 6, 2023. The payment date is set for February 1, 2023, highlighting the company's commitment to providing returns to its investors. Globe Life Inc. focuses on life and supplemental health insurance for middle-income Americans through various distribution channels including direct marketing and agencies.
Globe Life Inc. (NYSE: GL) announced significant executive leadership changes effective January 1, 2023. Co-CEOs Gary L. Coleman and Larry M. Hutchison will transition to Co-Chairmen of the Board, while J. Matthew Darden and Frank M. Svoboda are appointed as new Co-CEOs. The transition, part of a long-term succession planning process, aims to maintain continuity and growth. Thomas P. Kalmbach will become CFO, and Dolores L. Skarjune will be promoted to Executive Vice President. This leadership shift is expected to enhance the company's focus on basic protection insurance for underserved markets.
Globe Life Inc. (NYSE: GL) reported Q3 2022 net income of $1.90 per diluted share, up from $1.84 in the previous year. Net operating income also rose to $2.15 per share, compared to $1.78 a year ago, reflecting a strong 21% increase. Life and health premiums grew by 6% and 7% respectively. The company repurchased 563,574 shares for $56 million. Notably, COVID-19 life claims significantly decreased to $44 million year-to-date, down from $82 million last year. With projected net operating income for 2022 between $8.00 and $8.20, Globe Life appears well-positioned for future growth.
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