Sign in

    Globe Life Inc (GL)

    Board Change

    You might also like

    Business Description

    Globe Life Inc. is an insurance holding company operating primarily in the United States, focusing on individual life and supplemental health insurance products targeted at lower middle to middle-income households . The company is organized into four main segments: life insurance, supplemental health insurance, annuities, and investments . Life insurance is the predominant segment, representing a significant portion of the total premium and underwriting margin in 2024 . Globe Life markets its products through various distribution channels, including exclusive agencies, an independent agency, and a Direct to Consumer division .

    1. Life Insurance - Offers traditional whole life and term life insurance products, representing the largest segment of the business and contributing significantly to the underwriting margin .
    2. Supplemental Health Insurance - Provides guaranteed renewable products, including Medicare Supplement, cancer, critical illness, accident, and other limited-benefit supplemental hospital and surgical products .
    3. Investments - Manages the investment portfolio and cash flow for the insurance segments and the corporate function .
    4. Annuities - Includes fixed-benefit contracts, which are not currently marketed as stand-alone products and represent an insignificant part of the business .

    Key Metrics

    View all financials →

    Executive Team

    NamePositionStart DateShort Bio
    Jennifer A. HaworthExecutive Vice President and Chief Marketing OfficerJan 2020Jennifer A. Haworth has been the EVP and Chief Marketing Officer of Globe Life Inc. since January 2020. She previously served as Division SVP of Marketing at Globe since September 2019 .
    Robert E. HensleyExecutive Vice President and Chief Investment OfficerJul 2021Robert E. Hensley has been serving as the EVP and Chief Investment Officer of Globe Life Inc. since July 2021. He was previously the Divisional SVP of Investments for several divisions starting in February 2021 .
    Thomas P. KalmbachEVP and Chief Financial Officer; President of Globe; President of Family HeritageJan 2023Thomas P. Kalmbach has been serving as the EVP and CFO of Globe Life Inc. since January 2023. He also holds the position of President of Globe since January 2023 and President of Family Heritage since April 2022 .
    Michael C. MajorsEVP, Policy Acquisition and Chief Strategy Officer; President of United AmericanJan 2023Michael C. Majors has been serving as the EVP, Policy Acquisition and Chief Strategy Officer of Globe Life since January 2023. He has also been the President of United American since March 2015 .
    R. Brian MitchellEVP and General Counsel; Chief Risk Officer; President of American Income; President of LibertyJan 2023R. Brian Mitchell has been the EVP and General Counsel of Globe Life Inc. since June 2012. He became the Chief Risk Officer in May 2017, President of American Income in January 2023, and President of Liberty since July 2018 .
    Dolores L. SkarjuneExecutive Vice President and Chief Administrative OfficerJan 2023Dolores L. Skarjune has been serving as the EVP and Chief Administrative Officer of Globe Life Inc. since January 2023. She was previously the Divisional SVP of Sales and Administration for several divisions from September 2019 .
    Christopher K. TylerExecutive Vice President and Chief Information OfficerJun 2022Christopher K. Tyler is the EVP and Chief Information Officer of Globe Life Inc. since June 2022. He previously served as the CIO at Magellan Health from February 2020 to May 2022 .
    Rebecca E. ZornExecutive Vice President and Chief Talent OfficerJan 2021Rebecca E. Zorn has been the EVP and Chief Talent Officer of Globe Life Inc. since January 2021. She also serves as the Divisional SVP and Chief Talent Officer for several divisions since September 2019 .
    Frank M. SvobodaCo-Chairman and Chief Executive OfficerJan 2023Frank M. Svoboda is the Co-Chairman and CEO of Globe Life Inc. since January 2023. He was previously the Senior EVP and CFO from April 2022 to December 2022 .
    J. Matthew DardenCo-Chairman and Chief Executive OfficerJan 2023J. Matthew Darden has been serving as the Co-Chairman and CEO of Globe Life Inc. since January 2023. He was previously the Senior EVP and Chief Strategy Officer from April 2022 to December 2022 .

    Questions to Ask Management

    1. Given that mortality rates remain higher than pre-pandemic levels and you haven't returned to pre-pandemic assumptions, what specific measures are you taking to address the ongoing excess mortality, and how might this impact your future profitability?

    2. With health margins under pressure due to higher claims in the Medicare supplement business and a lag in obtaining rate increases effective in 2025, how do you plan to manage the short-term profitability challenges, and what is your strategy if regulators do not approve sufficient rate increases?

    3. Considering your intent to increase investments in commercial mortgage loans and limited partnerships to 25-30% of total acquisitions in 2025, how are you assessing and mitigating the risks associated with these alternative investments, especially if interest rates begin to decline?

    4. Given that your 2025 guidance does not include any capital benefits from the Bermuda platform and acknowledging the time it takes to realize such benefits, can you explain the reasons for the delay in concluding this evaluation and how it aligns with your overall capital management strategy?

    5. While you have seen recent improvements in life claims and margins, how sustainable do you believe these favorable trends are, and what factors could potentially reverse this improvement in the near future?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateN/A
    End Date/DurationN/A
    Total additional amountN/A
    Remaining authorizationN/A
    DetailsThe share buyback program is part of an ongoing strategy that began in 1986. It is reviewed quarterly by the Board of Directors and continues indefinitely unless the Board decides to suspend, terminate, or modify it. The program aims to utilize excess cash flows to provide a better return to shareholders compared to other investment alternatives.

    Debt Maturity Schedule

    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2027250.0 Term Loan6.593 8.9% = (250.0 / 2,793.9) * 100
    2028550.0 Senior Notes4.550 19.7% = (550.0 / 2,793.9) * 100
    2030400.0 Senior Notes2.150 14.3% = (400.0 / 2,793.9) * 100
    2032250.0 Senior Notes4.800 8.9% = (250.0 / 2,793.9) * 100
    2034450.0 Senior Notes5.850 16.1% = (450.0 / 2,793.9) * 100
    2057125.0 Junior Subordinated Debentures5.275 4.5% = (125.0 / 2,793.9) * 100
    2061325.0 Junior Subordinated Debentures4.250 11.6% = (325.0 / 2,793.9) * 100
    N/A443.9 Short-Term Debt (Commercial Paper & FHLB Borrowings)Variable 15.9% = (443.9 / 2,793.9) * 100

    Auditor

    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP1999 PresentCurrent auditor

    Latest news

    Recent developments and announcements about GL.

    Corporate Leadership

      Board Change

      ·
      Nov 19, 2024, 12:00 AM

      Globe Life Inc. has recently updated its board of directors. On November 13, 2024, the Board of Directors adopted the Globe Life Inc. Executive Severance Plan, which provides severance benefits to the company's Co-CEOs and other Named Executive Officers .