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. reported Q3 2021 net income of $1.84 per diluted share, up from $1.76 year-over-year, while net operating income rose to $1.78 from $1.75. Total life premiums grew by 8%, driven by divisions like American Income Life (up 12%) and Liberty National (up 6%). However, COVID-19 claims reached approximately $33 million in Q3, contributing to expected full-year claims of $110-125 million. Share buybacks totaled 1 million shares at a cost of $97 million. The projected range for 2021 net operating income per share is $6.85 to $7.05, lowered due to unexpected COVID losses.
Globe Life Inc. (NYSE: GL) will announce its Third Quarter 2021 earnings on October 20, 2021, after market close. Investors can access the earnings press release on the Company’s website. A conference call will be held on October 21, 2021, at 11:00 AM Eastern Time, allowing stakeholders to discuss the financial results and other relevant information. Globe Life specializes in life and supplemental health insurance for middle-income Americans through various distribution channels.
Globe Life Inc. (NYSE: GL) will release its Third Quarter 2021 earnings on October 20, 2021, after market close. Investors can access the earnings press release and other financial information on the company's website. A conference call discussing the earnings will take place on October 21, 2021, at 11:00 AM Eastern Time. Globe Life specializes in life and supplemental health insurance for middle-income Americans, utilizing various distribution channels.
Globe Life Inc. (NYSE: GL) announced a quarterly dividend of $.1975 per share, payable on November 1, 2021. The dividend applies to all outstanding common stock held as of October 4, 2021. This declaration reflects the company's ongoing commitment to returning value to its shareholders. Globe Life specializes in life and supplemental health insurance, targeting middle-income Americans through various distribution channels.
On August 1, 2021, Globe Life (NYSE: GL) completed its acquisition of Beazley Benefits, a subsidiary of Beazley plc, enhancing its offerings in the employee benefits market. Beazley Benefits specializes in supplemental health solutions, generating approximately $40 million in premiums in 2020. This strategic acquisition aligns with Globe Life's mission to deliver innovative solutions for working families. Beazley Benefits will be rebranded as Globe Life Benefits, and the transition is expected to be seamless, leveraging Beazley Benefits' experienced management team.
Globe Life Inc. (NYSE: GL) reported strong Q2 2021 results, with net income of $1.92 per diluted share, up from $1.62 in Q2 2020. Net operating income rose to $1.85 per share, a 12% increase year-over-year. Total life premiums increased by 9%, driven by growth in all divisions, while health premiums climbed 13%. The company repurchased 1.2 million shares at an average price of $101.05. However, COVID-19 claims amounted to approximately $11 million in Q2, totaling $49 million for the first half of 2021, with projections of $53-$55 million for the full year.
Globe Life Inc. (NYSE: GL) will release its Second Quarter 2021 earnings after market close on July 21, 2021. The earnings report, along with detailed financial information, will be accessible on the company's website. Additionally, a conference call is scheduled for July 22, 2021, at 11:00 AM Eastern to discuss the earnings results. Investors can access the live broadcast and replay via the company’s investor relations page.
Globe Life Inc. (NYSE: GL) will announce its Second Quarter 2021 earnings after market hours on July 21, 2021. The earnings press release and related financial data will be accessible on the company's website. Additionally, a live conference call is scheduled for July 22, 2021 at 11:00 AM Eastern, allowing investors to listen in on the discussion regarding the quarterly performance. Globe Life focuses on life and supplemental health insurance for middle-income Americans through various distribution channels.
AM Best has assigned a Long-Term Issue Credit Rating of 'bbb-' (Good) to Globe Life's newly issued $325 million 4.25% junior subordinated debentures, due June 15, 2061. The outlook for this rating is stable. Globe Life's existing ratings remain unchanged, with financial leverage and interest coverage ratios within AM Best's guidelines. The proceeds will be used to redeem $300 million of current 6.125% subordinated debentures due 2056, enhancing its financial position. Globe Life remains strong in cash flows and liquidity, supporting its corporate cash flow needs.
Globe Life Inc. (NYSE: GL) announced the redemption of its outstanding 6.125% Junior Subordinated Debentures due 2056, totaling $300,000,000, effective July 15, 2021. The debentures will be redeemed at a price of $25.00 each, plus accrued interest of $0.127604167, amounting to a total of $25.127604167 per debenture. Holders of these debentures, which are managed through the Book-Entry Only Issuance System at The Depository Trust Company, will receive notifications accordingly.
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