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Net Income: $361 million, or $4.62 per share, down 2% from $4.73 per share a year ago.Net Operating Income: $379 million, or $4.84 per share, up 1% from $4.81 p

The AI Boom’s Next Big Winners May Wear Hard HatsGlobe Life NYSE: GL reported third-quarter net income of $361 million, or $4.62 per share, down 2% from $4.73 per share a year earlier. Net operating income rose 1% to $379 million, or $4.84 per share, compared with $4.81 per share in the prior-year quarter.

Co-Chief Executive Officer Frank Svoboda said quarterly results were affected by the company’s annual update of assumptions used to establish policy obligations. Globe Life recorded a remeasurement gain tied to those updates, reflecting favorable claims experience relative to its longer-term assumptions. The company said the assumption changes reduced life and health policy obligations by about $120 million, including a $96 million reduction in life obligations and a $24 million reduction in health obligations.

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Corning and AT&T's $3 Billion Fiber Deal Reveals Where AI Spending Goes NextTotal premium revenue increased 7% year over year during the quarter. Life premium revenue rose 2% to $865 million, while health premium revenue climbed 16% to $447 million. Globe Life expects full-year premium revenue growth of about 6.5%, with life premiums increasing 2.5% to 2.75% and health premiums increasing about 15%.

Health Results Pressured by Medicare Claims and Evry Losses
Health underwriting margin rose 7% to $116 million, but results at the United American General Agency division were affected by a Medicare Supplement claims-processing matter and losses at Evry, the company’s developing group health business.

Chips to Bots: Qualcomm’s Agentic AI BreakoutUnited American’s health premiums increased 29% to $219 million, while its underwriting result moved to a $6 million loss from a $16 million profit a year earlier. Co-CEO Matt Darden said a processing delay at the Centers for Medicare & Medicaid Services resulted in nearly $7 million of excess Medicare Supplement claims paid during the quarter that related to prior periods.

Darden also said Evry recorded an underwriting loss of nearly $16 million, driven by an unusually high number of high-severity claims. Excluding the CMS-related claims and Evry’s results, United American would have generated a $16 million underwriting margin, or about 7% of premiums.

Management said the CMS issue was largely tied to Medicare reimbursement-rate corrections and reissued Medicare identification numbers that delayed processing of previously denied legitimate claims. The company expects those claims to normalize going forward, although the higher claims trend will be reflected in rate filings expected to take effect beginning in the second quarter of 2027, if approved.

Globe Life said it is taking pricing actions at Evry and expects the effects of high-severity claims to improve in the fourth quarter. However, it expects Evry loss ratios to remain above target for the balance of the year. Management said the business needs a larger base of groups and insured lives to reduce volatility. Evry had about 30 groups at the time of the call, with quarterly premiums of roughly $11 million; Globe Life expects annualized premiums of about $100 million and approximately 50 groups next year.

For 2027, management expects health underwriting margins to range from 20% to 24% of premiums. While that range incorporates potential variability from Evry, the company expects health underwriting-margin dollars to grow 7% to 9%, supported by sales growth and anticipated Medicare Supplement and Evry pricing actions.

Agency Sales Trends Differ Across Distribution Channels
American Income Life reported a 4% increase in life premiums to $470 million and a 3% increase in life underwriting margin to $268 million. Net life sales were flat at $97 million as increased agent productivity offset a 7% decline in the average producing-agent count from a year earlier.

Darden said compensation changes implemented at the beginning of the second quarter helped stabilize American Income’s agent count and improve productivity. The company plans further structural compensation changes intended to support sales, recruiting and retention. Globe Life expects American Income net life sales to grow at a mid- to high-single-digit rate in 2027.

At Liberty National, life premiums rose 4% to $102 million, while life underwriting margin fell 27% to $51 million, primarily because the annual assumption-update benefit declined from $35 million a year earlier to $14 million in the current quarter. Excluding that change, management said Liberty National’s life underwriting margin would have risen 5%. Net life sales increased 7%, aided by a 9% increase in average producing agents.

Family Heritage health premiums rose 8% to $129 million, health underwriting margin increased 12% to $57 million, and net health sales grew 5% to $35 million. Direct-to-consumer life sales, meanwhile, declined 12% to $24 million as the company navigated changes in digital advertising and AI-powered search behavior. Darden said inquiry rates improved during the second half of the quarter, supported by initiatives including AI-enabled advertising.

Investment Income, Capital Returns and Outlook
Excess investment income increased 3% to $38 million, as net investment income rose 3% to $296 million. During the quarter, Globe Life invested $833 million in fixed maturities at an average yield of 6.4%, an average rating of A and an average life of 35 years.

The company reported $22.3 billion of invested assets, including $19.6 billion of fixed maturities at amortized cost. Its fixed-maturity portfolio had a net unrealized loss position of $2.7 billion, which Svoboda said was primarily interest-rate driven and concentrated in bonds with maturities beyond 10 years. Globe Life said it has the intent and ability to hold investments to maturity.

Chief Financial Officer Tom Kalmbach said the company repurchased approximately 1.1 million shares for $185 million during the quarter, at an average price of $175.61 per share. Including $25 million in shareholder dividends, Globe Life returned about $210 million to shareholders in the quarter and about $630 million year to date.

For the full year, Globe Life now expects share repurchases of $725 million to $775 million and shareholder dividend payments of approximately $95 million. The company expects fourth-quarter repurchases of about $185 million.

Globe Life lowered its full-year 2026 net operating earnings guidance to $15.35 to $15.65 per diluted share, reflecting third-quarter results and revised fourth-quarter United American margin expectations. It expects normalized EPS growth, excluding assumption updates, of approximately 8% for 2026.

For 2027, the company projected net operating earnings of $16.10 to $17.10 per diluted share, representing 7% growth at the midpoint. It expects parent-company excess cash flow of $850 million to $950 million in 2027, including anticipated dividends from U.S. and Bermuda subsidiaries, some of which remain subject to regulatory approvals.

About Globe Life (NYSE:GL)Globe Life Inc NYSE: GL is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Globe Life (GL - Free Report) came out with quarterly earnings of $4.84 per share, missing the Zacks Consensus Estimate of $4.87 per share. This compares to earnings of $4.81 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -0.62%. A quarter ago, it was expected that this life and health insurance company would post earnings of $3.67 per share when it actually produced earnings of $3.61, delivering a surprise of -1.63%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Globe Life, which belongs to the Zacks Insurance - Accident and Health industry, posted revenues of $1.61 billion for the quarter ended September 2026, missing the Zacks Consensus Estimate by 0.03%. This compares to year-ago revenues of $1.52 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Globe Life shares have added about 21.4% since the beginning of the year versus the S&P 500's gain of 12.7%.

What's Next for Globe Life?While Globe Life has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Globe Life was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.78 on $1.63 billion in revenues for the coming quarter and $15.70 on $6.4 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Accident and Health is currently in the bottom 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Amerisafe (AMSF - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on October 28.

This insurance provider is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of -14.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Amerisafe's revenues are expected to be $84.8 million, up 8.9% from the year-ago quarter.

, /PRNewswire/ -- Globe Life Inc. (NYSE: GL) reported today that for the quarter ended September 30, 2026, net income was $4.62 per diluted common share, compared with $4.73 per diluted common share for the year-ago quarter. Net operating income was $4.84 per diluted common share, compared with $4.81 per diluted common share for the year-ago quarter.

HIGHLIGHTS:

Net income as an ROE(1) was 19.7% for the nine months ended September 30, 2026. Book value per share was $85.35, an increase of 23% over the year-ago quarter.  Net operating income as an ROE(1) excluding accumulated other comprehensive income (AOCI) was 15.9% for the nine months ended September 30, 2026. Book value per share excluding AOCI was $103.62, an increase of 11% over the year-ago quarter. Total premium revenue grew 7% over the year-ago quarter.  At the American Income Life Division, life premium increased 4% and life underwriting margin(1) increased 3% over the year-ago quarter. At the Liberty National Division, life net sales increased 7% and life premium increased 4% over the year-ago quarter. Additionally, the average producing agent count increased 9% over the year-ago quarter. At the Family Heritage Division, health underwriting margin(1) increased 12%, health premium increased 8%, and health net sales increased 5% over the year-ago quarter.  1.1 million shares of Globe Life Inc. common stock were repurchased during the quarter at a total cost of $185 million. (1)

The Company updates reserve assumptions in the third quarter each year. The results include the impact of this assumption update as a before tax remeasurement gain or loss. The current period includes a remeasurement gain due to assumption updates of $120.5 million ($96.4 million and $24.1 million gain related to Life and Health respectively) as compared assumption related remeasurement gains of $134.3 million ($130.9 and $3.4 million gains related to Life and Health respectively) in the year ago quarter. These amounts, along with experience related adjustments, are included within the remeasurement gain or loss in the Condensed Consolidated Statement of Operations.

Note: As used in the earnings release, "Globe Life," the "Company," "we," "our," and "us" refer to Globe Life Inc., a Delaware corporation incorporated in 1979, its subsidiaries and affiliates.

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

   RESULTS OF OPERATIONS

Net operating income, a non-GAAP(1) financial measure, has been used consistently by Globe Life's management for many years to evaluate the operating performance of the Company, and is a measure commonly used in the life insurance industry. It differs from net income primarily because it excludes certain non-operating items such as realized investment gains and losses and certain significant and unusual items included in net income. Management believes an analysis of net operating income is important in understanding the profitability and operating trends of the Company's business. Net income is the most directly comparable GAAP measure.

The following table represents Globe Life's operating summary for the three months ended September 30, 2026 and 2025:

Operating Summary

Per Share

Three Months Ended

September 30,

Three Months Ended

September 30,

2026

2025

%

Chg.

2026

2025

%

Chg.

Insurance underwriting income(2)

$       6.16

$       6.13

—

$   481,832

$   503,135

(4)

Excess investment income(2)

0.49

0.45

9

37,945

36,883

3

Interest on debt

(0.48)

(0.44)

9

(37,814)

(36,134)

5

Parent company expense

(0.04)

(0.05)

(2,875)

(4,105)

Income tax expense

(1.16)

(1.16)

—

(90,474)

(95,242)

(5)

Stock compensation benefit (expense), net of tax

(0.12)

(0.13)

(9,776)

(10,317)

Net operating income

4.84

4.81

1

378,838

394,220

(4)

Reconciling items, net of tax:

Realized gain (loss)

(0.13)

(0.05)

(9,964)

(3,939)

Non-operating expenses

(0.01)

—

(939)

(393)

Legal proceedings

(0.09)

(0.02)

(6,828)

(2,045)

Net income(3)

$       4.62

$       4.73

$   361,107

$   387,843

Weighted average diluted shares outstanding

78,225

82,015

(1)

GAAP is defined as accounting principles generally accepted in the United States of America.

(2)

Definitions included within this document.

(3)

A GAAP-basis condensed consolidated statement of operations is included in the appendix of this report.

Note: Tables in this earnings release may not sum due to rounding.

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

MANAGEMENT VS. GAAP MEASURES

Shareholders' equity, excluding AOCI, and book value per share, excluding AOCI, are non-GAAP measures that are utilized by management to view the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. Management views the business in this manner because it creates more meaningful and easily identifiable trends, as we exclude fluctuations resulting from changes in interest rates. Shareholders' equity and book value per share are the most directly comparable GAAP measures. 

Nine Months Ended

September 30,

2026

2025

Net income

$     919,380

$     895,155

Net operating income

937,043

924,652

Net income as an ROE(1)

19.7 %

21.9 %

Net operating income as an ROE (excluding AOCI)(1)

15.9 %

16.6 %

September 30,

2026

2025

Shareholders' equity

$   6,618,484

$   5,689,088

Impact of adjustment to exclude AOCI

1,416,943

1,972,891

Shareholders' equity, excluding AOCI

$   8,035,427

$   7,661,979

Book value per share

$        85.35

$        69.52

Impact of adjustment to exclude AOCI

18.27

24.11

Book value per share, excluding AOCI

$      103.62

$        93.63

(1)

Calculated using average shareholders' equity for the measurement period. Refer to Note (1), page 1, regarding the impact of the annual reserve assumption update on net income and net operating income.

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

INSURANCE OPERATIONS: 

Life insurance accounted for 80% of the Company's insurance underwriting margin for the quarter and 66% of total premium revenue. 

Health insurance accounted for 20% of the Company's insurance underwriting margin for the quarter and 34% of total premium revenue.

The following table summarizes Globe Life's premium revenue by product type for the three months ended September 30, 2026 and 2025:

Insurance Premium Revenue

Quarter Ended

September 30, 2026

September 30, 2025

%

Chg.

Life insurance

$       864,552

$       844,483

2

Health insurance

446,857

386,524

16

Total

$     1,311,409

$     1,231,007

7

INSURANCE UNDERWRITING INCOME

Insurance underwriting margin is management's measure of profitability of the Company's life and health segments' underwriting performance, and consists of premiums less policy obligations (excluding interest on policy liabilities), commissions and other acquisition expenses. Insurance underwriting income is the sum of the insurance underwriting margins of the life and health segments, plus annuity and other income, less administrative expenses. It excludes the investment segment, interest on debt, Parent Company expense, stock compensation expense and income taxes. Management believes this information helps provide a better understanding of the business and a more meaningful analysis of underwriting results by distribution channel. Insurance underwriting income, a non-GAAP measure, is a component of net operating income, which is reconciled to net income in the Results of Operations section above.

The following table summarizes Globe Life's insurance underwriting income by segment for the three months ended September 30, 2026 and 2025:

Insurance Underwriting Income

Quarter Ended

September 30, 2026

% of

Premium

September 30, 2025

% of

Premium

%

Chg.

Insurance underwriting margins:

Life

$       458,168

53

$       481,608

57

(5)

Health

115,637

26

108,374

28

7

573,805

589,982

(3)

Annuity and other income

3,184

2,920

Administrative expenses

(95,157)

(89,767)

Insurance underwriting income

$       481,832

$       503,135

(4)

Per share

$           6.16

$           6.13

—

The ratio of administrative expenses to premium was 7.3%, same as the year-ago quarter. 

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

LIFE INSURANCE RESULTS BY DISTRIBUTION CHANNEL 

Our distribution channels consist of the following exclusive divisions: American Income Life Division (American Income), Liberty National Division (Liberty National), Family Heritage Division (Family Heritage), Direct to Consumer Division (Direct to Consumer); and an independent agency, United American Division (United American).

Total premium, underwriting margins, first-year collected premium and net sales by all distribution channels are shown at https://investors.globelifeinsurance.com at "Financial Reports and Other Financial Information."

Life Underwriting Margin

Quarter Ended

September 30,

2026

2025

Amount

% of Premium

Amount

% of Premium

% Chg.

American Income

$    268,457

57

$    261,123

58

3

Direct to Consumer

113,064

47

113,744

46

(1)

Liberty National

50,999

50

(1)

70,290

72

(1)

(27)

Other

25,648

52

(2)

36,451

73

(2)

(30)

Total

$    458,168

53

$    481,608

57

(5)

(1)

The decrease was due primarily to fluctuations in assumption updates. The margin excluding the impact of assumption updates for the third quarter of 2026 was 36.3%, compared to 35.9% in the year-ago quarter.

(2)

The decrease was due primarily to fluctuations in assumption updates. The margin excluding the impact of assumption updates for the third quarter of 2026 was 59.6%, compared to 65.3% in the year-ago quarter. 

Life Premium

Quarter Ended

September 30,

2026

2025

%

Chg.

American Income

$    470,362

$    451,214

4

Direct to Consumer

243,083

244,828

(1)

Liberty National

102,000

98,190

4

Other

49,107

50,251

(2)

Total

$    864,552

$    844,483

2

Life Net Sales(1)

Quarter Ended

September 30,

2026

2025

%

Chg.

American Income

$      96,611

$      96,520

—

Direct to Consumer

24,023

27,176

(12)

Liberty National

25,978

24,296

7

Other

2,480

2,546

(3)

Total

$    149,092

$    150,538

(1)

(1)

Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

HEALTH INSURANCE RESULTS BY DISTRIBUTION CHANNEL

Health Underwriting Margin

Quarter Ended

September 30,

2026

2025

Amount

% of
Premium

Amount

% of
Premium

% Chg.

United American

$      (6,371)

(3)

(1)

$      16,098

9

(1)

Family Heritage

56,754

44

50,609

43

12

Liberty National

25,391

55

24,816

52

2

American Income

37,850

120

(2)

14,839

47

(2)

155

Direct to Consumer

2,013

10

2,012

10

—

Total

$    115,637

26

$    108,374

28

7

(1)

The underwriting loss was due primarily to an underwriting loss at Evry of approximately $16 million and a claims processing delay at the Centers for Medicare and Medicaid Services which resulted in approximately $7 million of excess prior period Medicare Supplement claims during the third quarter.

(2)

The increase in underwriting margin as a percentage of premium was due primarily to fluctuations in assumption updates. The margin excluding the impact of assumption updates for the third quarter of 2026 was 65.4%, compared to 59.7% in the year-ago quarter.

Health Premium

Quarter Ended

September 30,

2026

2025

%

Chg.

United American

$    219,340

$    169,735

29

Family Heritage

128,625

118,640

8

Liberty National

46,557

47,270

(2)

American Income

31,491

31,693

(1)

Direct to Consumer

20,844

19,186

9

Total

$    446,857

$    386,524

16

Health Net Sales(1)

Quarter Ended

September 30,

2026

2025

%

Chg.

United American

$      47,687

$      24,504

95

Family Heritage

34,645

33,063

5

Liberty National

7,374

8,482

(13)

American Income

3,888

4,623

(16)

Direct to Consumer

517

745

(31)

Total

$      94,111

$      71,417

32

(1)

Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

PRODUCING EXCLUSIVE AGENT COUNT RESULTS BY DISTRIBUTION CHANNEL

Quarterly Average

Producing Agent Count(1)

Quarter Ended

Quarter Ended

September 30,

June 30,

2026

2025

% Chg.

2026

American Income

11,331

12,230

(7)

11,391

Liberty National

4,187

3,847

9

4,194

Family Heritage

1,565

1,553

1

1,608

(1)

The quarterly average producing agent count is based on the actual count at the beginning and end of each week during the period.

INVESTMENTS

Management uses excess investment income as the measure to evaluate the performance of the investment segment. It is defined as net investment income less the required interest attributable to policy liabilities. We also view excess investment income per diluted common share as an important and useful measure to evaluate performance of the investment segment, since it takes into consideration our stock repurchase program.

The following table summarizes Globe Life's investment income, excess investment income, and excess investment income per diluted common share.

Excess Investment Income

Quarter Ended

September 30,

2026

2025

%

Chg.

Net investment income

$    295,895

$    286,013

3

Required interest on policy liabilities(1)

(257,950)

(249,130)

4

Excess investment income

$      37,945

$      36,883

3

Per share

$         0.49

$        0.45

9

(1)

Interest on policy liabilities, at original discount rates, is a component of total policyholder benefits, a GAAP measure.

Net investment income and average invested assets both increased 3%. Required interest on policy liabilities and average policy liabilities both increased 4%.

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

The composition of the investment portfolio at book value at September 30, 2026 is as follows:

Investment Portfolio

As of

September 30, 2026

Amount

% of Total

Fixed maturities at fair value(1)

$   16,873,879

86

Mortgage loans

459,302

2

Policy loans

771,652

4

Other long-term investments(2)

1,433,301

7

Short-term investments

95,244

1

Total

$   19,633,378

(1)

As of September 30, 2026, fixed maturities at amortized cost were $19.6 billion, net of $3.3 million of allowance for credit losses.

(2)

Includes $1.06 billion of investments accounted for under the fair value option which have a cost of $1.05 billion as of September 30, 2026.

Fixed maturities at amortized cost, net of allowance for credit losses, by asset class as of September 30, 2026 are as follows:

Fixed Maturity Portfolio by Sector

As of

September 30, 2026

Investment
Grade

Below
Investment
Grade

Total
Amortized
Cost, net

Corporate bonds

$  14,884,822

$      518,004

$  15,402,826

Municipals

3,476,434

1,958

3,478,392

Government, agencies, and GSEs(1)

466,313

—

466,313

Other asset-backed securities

160,911

52,649

213,560

Total

$  18,988,480

$      572,611

$  19,561,091

(1)

Government-Sponsored Enterprises

Below are fixed maturities available for sale by amortized cost, allowance for credit losses, and fair value at September 30, 2026 and the corresponding amounts of net unrealized gains and losses recognized in accumulated other comprehensive income (loss).

As of

Amortized

Cost

Allowance for
Credit Losses

Net Unrealized
Gains (Losses)

Fair

 Value

September 30, 2026

$          19,564,388

$         (3,297)

$    (2,687,212)

$    16,873,879

At amortized cost, net of allowance for credit losses, and at fair value, 97% of fixed maturities were rated "investment grade." The fixed maturity portfolio earned an annual taxable equivalent effective yield of 5.33% during the third quarter of 2026, compared with 5.26% in the year-ago quarter.

Globe Life is not a party to any credit default swaps and does not participate in securities lending.

GLOBE LIFE INC.
Earnings Release—Q3 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

Comparable information for acquisitions of fixed maturity and other investments is as follows:

Fixed Maturity Acquisitions

Quarter Ended

September 30,

2026

2025

Amount

$    832,540

$    279,333

Average annual effective yield

6.4 %

6.3 %

Average rating

A

A+

Average life (in years) to:

Next call

32.5

21.8

Maturity

34.9

29.3

Other Investment Acquisitions

Quarter Ended

September 30,

2026

2025

Limited partnerships

$       23,069

$       34,143

Mortgage loans

70,172

51,886

Common stock

970

751

Total

$       94,211

$       86,780

SHARE REPURCHASES:

During the quarter, the Company repurchased 1.1 million shares of Globe Life Inc. common stock at a total cost of $185 million and an average share price of $175.61. The Company expects to spend $725 million to $775 million to repurchase common stock for the full year 2026, compared to the previous guidance of $670 million to $700 million.

LIQUIDITY/CAPITAL:

Globe Life's operations consist primarily of writing basic protection life and supplemental health insurance policies which generate strong and stable cash flows. These cash flows are not impacted by volatile equity markets. Liquidity at the Parent Company is sufficient to meet additional capital needs of the insurance companies.

EARNINGS GUIDANCE FOR THE YEAR ENDING DECEMBER 31, 2026 and 2027:

The Company adjusted full-year 2026 earnings guidance to a range of $15.35 to $15.65 due to two items impacting the results at our United American General Agency division, rather than a fundamental change in our underlying core business: high-severity claims at Evry, a developing group health business still growing and scaling to a size that will enable stable results, and a claims processing delay at the Centers for Medicare and Medicaid Services which resulted in excess Medicare Supplement claims during the third quarter. For the year ending December 31, 2027, we estimate that net operating income per share will be in the range of $16.10 to $17.10, an increase of 7.1% at the midpoint.

NON-GAAP MEASURES:

In this news release, Globe Life includes non-GAAP measures to enhance investors' understanding of management's view of the business. The non-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. Globe Life's definitions of non-GAAP measures may differ from other companies' definitions. More detailed financial information, including various GAAP and non-GAAP measurements, is located at https://investors.globelifeinsurance.com on the Investors page under "Financial Reports and Other Financial Information."

CAUTION REGARDING FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements within the meaning of the federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Whether or not actual results differ materially from forward-looking statements may depend on numerous foreseeable and unforeseeable events or developments, which may be national in scope, related to the insurance industry generally, or applicable to the Company specifically. Such events or developments could include, but are not necessarily limited to:

1) Economic and other conditions, including the impact of inflation, immigration, geopolitical events, escalating tariff and non-tariff trade measures imposed by the U.S. and other countries, and other governmental actions on the U.S. economy and/or U.S. consumer confidence, leading to unexpected changes in lapse rates and/or sales of our policies, as well as levels of mortality, morbidity, and utilization of health care services that differ from Globe Life's assumptions;

2) Regulatory developments, including changes in accounting standards or governmental regulations (particularly those impacting taxes and changes to the Federal Medicare program that would affect Medicare Supplement);

3) Market trends in the senior-aged health care industry that provide alternatives to traditional Medicare (such as Health Maintenance Organizations and other managed care or private plans) and that could affect the sales of traditional Medicare Supplement insurance;

4) Ratings changes with respect to our financial strength and credit ratings and potential adverse impacts to liquidity;

5) Interest rate changes that affect product sales, financing costs, and/or investment yields;

6) General economic, industry sector or individual debt issuers' financial conditions (including developments and volatility arising from geopolitical events, particularly in certain industries that may compromise part of our investment portfolio) that may affect the current market value of securities we own, or that may impair an issuer's ability to make principal and/or interest payments due on those securities;

7) Changes in the competitiveness of the Company's products and pricing;

8) Litigation results and regulatory actions;

9) Levels of administrative and operational efficiencies that differ from our assumptions (including any reduction in efficiencies resulting from increased costs arising from the impact of higher than anticipated inflation);

10) The ability to obtain timely and appropriate premium rate increases for health insurance policies from our regulators;

11) The ability of our subsidiaries to pay dividends to the Parent Company and to receive required regulatory approvals on such amounts;

12) The customer response to new products and marketing initiatives;

13) Reported amounts in the consolidated financial statements which are based on management estimates and judgments which may differ from the actual amounts ultimately realized;

14) Compromise by a malicious actor or other event that causes a loss of secure data from, or inaccessibility to, our computer and other information technology systems;

15) The Company's ability to attract and retain agents;

16) The severity, magnitude, and impact of natural or man-made catastrophic events, including but not limited to pandemics, tornadoes, hurricanes, earthquakes, war and terrorism, on our operations and personnel, commercial activity and demand for our products; and

17) Globe Life's ability to access the commercial paper and debt markets, particularly if such markets become unpredictable or unstable for a certain period.

Readers are also directed to consider other risks and uncertainties described in other documents on file with the Securities and Exchange Commission, including those described in the "Risk Factors" section of our most recent Annual Report on Form 10-K. Globe Life specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.

EARNINGS RELEASE CONFERENCE CALL WEBCAST:

Globe Life will provide a live audio webcast of its third quarter 2026 earnings release conference call with financial analysts at 11:00 am (Eastern) tomorrow, October 22, 2026. Access to the live webcast and replay will be available at https://investors.globelifeinsurance.com on the Calls and Meetings page, at the Conference Calls on the Web icon. Immediately following this press release, supplemental financial reports will be available before the conference call on the Investors page menu of the Globe Life website at "Financial Reports."  

APPENDIX

GLOBE LIFE INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Revenue:

Life premium

$      864,552

$      844,483

$   2,578,524

$   2,513,890

Health premium

446,857

386,524

1,300,620

1,134,414

Total premium

1,311,409

1,231,007

3,879,144

3,648,304

Net investment income

295,895

286,013

879,539

848,796

Realized gains (losses)

(12,612)

(4,987)

(6,952)

(23,476)

Other income

1,245

955

3,555

1,073

Total revenue

1,595,937

1,512,988

4,755,286

4,474,697

Benefits and expenses:

Life policyholder benefits(1)

414,701

381,511

1,447,510

1,410,622

Health policyholder benefits(2)

272,129

227,940

812,875

691,793

Other policyholder benefits

7,268

7,171

21,548

20,970

Total policyholder benefits

694,098

616,622

2,281,933

2,123,385

Amortization of deferred acquisition costs

124,654

114,074

363,473

330,990

Commissions, premium taxes, and non-deferred acquisition costs

174,863

157,494

518,503

479,228

Other operating expense

123,274

111,562

353,260

328,601

Interest expense

37,814

36,134

107,864

106,011

Total benefits and expenses

1,154,703

1,035,886

3,625,033

3,368,215

Income before income taxes

441,234

477,102

1,130,253

1,106,482

Income tax benefit (expense)

(80,127)

(89,259)

(210,873)

(211,327)

Net income

$      361,107

$      387,843

$     919,380

$     895,155

Basic net income per common share

$          4.71

$          4.81

$        11.86

$        10.91

Diluted net income per common share

$          4.62

$          4.73

$        11.64

$        10.77

(1)

Net of total remeasurement, including both the impact of assumption changes and the effect of actual to expected experience adjustments,  gain of $116.7 million before tax for the three months ended September 30, 2026 and a total remeasurement gain of $149.5 million before tax for the same period in 2025. Net of total remeasurement  gain of $159.1 million for the nine months ended September 30, 2026, and a total remeasurement gain of $174.7 million for the same period in 2025.

(2)

Net of total remeasurement, including both the impact of assumption changes and the effect of actual to expected experience adjustments,  gain of $29.1 million before tax for the three months ended September 30, 2026 and a total remeasurement gain of $8.8 million before tax for the same period in 2025. Net of a total remeasurement gain of $36.5 million for the nine months ended September 30, 2026, and a total remeasurement gain of $13.2 million for the same period in 2025.

SOURCE Globe Life Inc.

Globe Life targets stronger premium growth in 2026, backed by rising investment income, AI adoption, agency expansion and substantial shareholder returns.

Key Takeaways GL anticipates life underwriting margins of 52-53% and health margins of 29-32%, aided by premium growth.
Net investment income is expected to reach $297 million, up 3.8% year over year, on higher earned yields.
Life and health assumption updates are projected at $110-$130M, while share buybacks could boost earnings.

Globe Life Inc. (GL - Free Report) is expected to register an improvement in both top and bottom lines when it reports third-quarter 2026 results on Oct. 21, after market close.

The Zacks Consensus Estimate for GL’s third-quarter revenues is pegged at $1.61 billion, indicating 5.9% growth from the year-ago reported figure.

The consensus estimate for earnings is pegged at $4.87 per share. The Zacks Consensus Estimate for GL’s third-quarter earnings has moved down 0.4% in the past 30 days. The estimate suggests a year-over-year increase of 1.2%.

What the Zacks Model UnveilsOur proven model predicts an earnings beat for Globe Life this time. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which increases the chances of an earnings beat.

Earnings ESP: Globe Life has an Earnings ESP of +0.14%. This is because the Most Accurate Estimate of $4.88 is pegged higher than the Zacks Consensus Estimate of $4.87. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Zacks Rank: Globe Life currently carries a Zacks Rank #3.  

Factors Likely to Shape Q3 Results of GLPremium growth and lower policy obligations as a percent of premium are likely to have driven the life insurance segment’s underwriting margin. Given the estimated benefit from assumption updates in the third quarter, GL anticipates third-quarter life underwriting margin as a percent of premium to be in the range of 52% to 53%.

Higher premiums from strong growth in Medicare Supplement sales and the positive impact of higher premium rates on individual Medicare Supplement policies as a result of approved rate increases are likely to have driven the health segment’s underwriting margin. GL anticipates the third-quarter health underwriting margin as a percent of premium to be in the range of 29% to 32%.

Higher earned yields on fixed maturities, commercial mortgage loans and other long-term investments are expected to have aided net investment income. The Zacks Consensus Estimate for third-quarter 2026 net investment income is pegged at $297 million, indicating an increase of 3.8% from the year-ago reported quarter.

Insurance administrative expenses are likely to have increased owing to higher employee costs, which include salaries and other costs, in addition to higher information technology expenses.

Continued share buybacks are likely to have provided additional support to the bottom line.

GL anticipates third-quarter life and health assumption updates in the range of $110 million to $130 million, with the life assumption range update in the band of $90 million to $100 million and the health assumption update in the range of $20 million to $30 million.

Other Stocks to ConsiderHere are some other finance stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:

RenaissanceRe Holdings Ltd. (RNR - Free Report) has an Earnings ESP of +9.02% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $9.28, indicating a year-over-year decrease of 40.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.

RNR’s earnings beat estimates in each of the last four reported quarters.

Cincinnati Financial Corporation (CINF - Free Report) has an Earnings ESP of +13.87% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $2.01, indicating a year-over-year decrease of 29.4%.

CINF’s earnings beat estimates in three of the last four reported quarters and missed in one.

Arch Capital Group Ltd. (ACGL - Free Report) has an Earnings ESP of +11.70% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $2.05, indicating a year-over-year decrease of 25.9%.

ACGL’s earnings beat estimates in each of the last four reported quarters.

Globe Life (NYSE:GL – Get Free Report) and eHealth (NASDAQ:EHTH – Get Free Report) are both finance companies, but which is the better investment? We will compare the two companies based on the strength of their earnings, valuation, institutional ownership, risk, profitability, analyst recommendations and dividends.

Analyst Recommendations This is a summary of current ratings and target prices for Globe Life and eHealth, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Globe Life 0 2 8 1 2.91 eHealth 1 5 0 0 1.83 Globe Life presently has a consensus target price of $189.56, suggesting a potential upside of 12.97%. eHealth has a consensus target price of $2.19, suggesting a potential upside of 260.68%. Given eHealth’s higher possible upside, analysts clearly believe eHealth is more favorable than Globe Life.

Valuation & Earnings This table compares Globe Life and eHealth”s gross revenue, earnings per share and valuation. Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Globe Life $5.99 billion 2.15 $1.16 billion $15.06 11.14 eHealth $554.01 million 0.04 $40.04 million ($1.16) -0.52 Globe Life has higher revenue and earnings than eHealth. eHealth is trading at a lower price-to-earnings ratio than Globe Life, indicating that it is currently the more affordable of the two stocks.

Profitability This table compares Globe Life and eHealth’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Globe Life 19.58% 20.52% 3.96% eHealth 5.42% 6.13% 2.92% Risk & Volatility Globe Life has a beta of 0.44, indicating that its stock price is 56% less volatile than the S&P 500. Comparatively, eHealth has a beta of 1.63, indicating that its stock price is 63% more volatile than the S&P 500.

Institutional & Insider Ownership 81.6% of Globe Life shares are held by institutional investors. Comparatively, 79.5% of eHealth shares are held by institutional investors. 2.1% of Globe Life shares are held by insiders. Comparatively, 7.2% of eHealth shares are held by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company is poised for long-term growth.

Summary Globe Life beats eHealth on 12 of the 15 factors compared between the two stocks.

About Globe Life (Get Free Report)

Globe Life Inc., through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. It offers whole, term, and other life insurance products; Medicare supplement and supplemental health insurance products, such as accident, cancer, critical illness, heart, and intensive care plans; and single-premium and flexible-premium deferred annuities. The company sells its products through its direct to consumer division, exclusive agencies, and independent agents. The company was formerly known as Torchmark Corporation and changed its name to Globe Life Inc. in August 2019. Globe Life Inc. was founded in 1900 and is headquartered in McKinney, Texas.

About eHealth (Get Free Report)

eHealth, Inc. operates a health insurance marketplace that provides consumer engagement, education, and health insurance enrollment solutions in the United States. The company operates in two segments, Medicare; and Employer and Individual. The Medicare segment offers sale of Medicare-related health insurance plans, which includes Medicare advantage, Medicare Supplement, and Medicare Part D prescription drug plans to Medicare-eligible customers including but not limited to, dental, and vision insurance, as well as advertising program for marketing and other services. The Employer and Individual segment engages in the sale of individual, family, and small business health insurance plans; and ancillary products to non-Medicare-eligible customers including but not limited to, dental, vision, and short and long term disability insurance. In addition, the company provides ecommerce platforms and consumer engagement solutions, which includes market leading information, decision support, customer engagement, and transactional services to group of health insurance consumers; and organize and present the insurance information in objective format to individuals, families, and small businesses to research, analyze, compare and purchase health insurance plans. Further, it markets health insurance plans through its websites, including eHealth.com, eHealthInsurance.com, eHealthMedicare.com, Medicare.com, PlanPrescriber.com, and GoMedigap.com. The company also offers online sponsorship and advertising, non-broker of record, lead referral, technology licensing, as well as performs various post-enrollment services for members in Medicare health insurance plans. eHealth, Inc. was incorporated in 1997 and is headquartered in Austin, Texas.

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MCKINNEY, Texas, Oct. 7, 2026 /PRNewswire/ -- Globe Life Inc. (NYSE: GL) will announce its Third Quarter 2026 financial results after the market closes on Wednesday, October 21, 2026. At that time, a copy of the Company's Third Quarter 2026 earnings press release and any other financial and statistical information about the quarter will be available on the Company's website, https://investors.globelifeinsurance.com, under Financial Reports and Other Financial Information.

Key Takeaways Globe Life's health premiums rose 16% year over year in the second quarter, ahead of life premium growth. United American's health premiums increased 29%, while Family Heritage posted 9% growth. Globe Life expects 2026 health premiums to grow 14-16% versus 2.5-3% for life premiums. Globe Life Inc.’s (GL - Free Report) health insurance business is becoming an increasingly important source of premium growth and diversification following its second-quarter 2026 performance. Health premiums increased 16% year over year in the second quarter of 2026, substantially ahead of the 3% growth in life premiums. The stronger momentum reflects continued expansion across the company’s health-focused businesses, particularly United American and Family Heritage.

United American was a key contributor, with health premiums rising 29% year over year, while Family Heritage posted 9% growth. These businesses provide GL with exposure to supplemental health products, allowing it to benefit from demand for coverage that helps consumers manage healthcare costs.

Rate actions are another important catalyst. GL expects approximately $65 million of additional 2026 premium from approved Medicare Supplement rate increases. These increases can support premium growth and help offset higher medical costs.

GL’s outlook further underscores the increasing importance of health insurance. It expects health premiums to grow 14-16% in 2026 compared with only 2.5-3% growth in life premiums. Total premiums are projected to increase 6.5-7%. As a result, health insurance is expected to grow much faster than the company's overall life business and become a larger contributor to consolidated premium growth.
Another potential advantage is diversification. A stronger health business gives GL another avenue for growth as its mature life insurance operations expand at a slower pace. This could make the company’s premium mix more balanced and reduce its dependence on life insurance for organic growth.

Strong health premium growth, particularly at United American, approved Medicare Supplement rate increases, and GL’s solid outlook provide a meaningful foundation for continued expansion.

What About Its Peers?Aflac Incorporated’s (AFL - Free Report) supplemental health insurance is central to its business model. Aflac’s supplemental health products are designed to help cover expenses that traditional health insurance may not fully cover, including products related to accident, cancer, critical illness, hospital care, dental and vision. In the United States, the company sells through both individual and group/employer channels. The scale of the business is significant. In second-quarter 2026, Aflac reported $3.25 billion of net earned premiums, principally from supplemental health insurance compared with $3.47 billion a year earlier.

Unum Group (UNM - Free Report) , through its Colonial Life business, offers voluntary benefits such as cancer, critical illness and accident coverage, which complement traditional health insurance. In the second quarter of 2026, Colonial Life’s adjusted operating income increased 11.9% to $131.4 million, supported partly by favorable claims experience in life, cancer and critical-illness products. UNM’s supplemental and voluntary business also generated $133.3 million of adjusted operating income, up 8.2% year over year. These results highlight the earnings potential of supplemental health products and provide a useful industry comparison for Globe Life as its health business expands faster than its traditional life operations.

GL’s Price PerformanceShares of GL have gained 17.8% in the past year, outperforming the industry’s growth.

Image Source: Zacks Investment Research

GL’s OvervaluationThe stock is overvalued compared with its industry. Its forward price-to-book value of 2.13X is higher than the industry average of 1.67X. It carries a Value Score of B.

Image Source: Zacks Investment Research

Estimate Movement for GLThe Zacks Consensus Estimate for GL’s 2026 third-quarter earnings per share (EPS) moved up 2.3%, and the fourth-quarter EPS has moved down 1.3% in the past 60 days. The same for full-year 2026 EPS moved up 0.1%, and 2027 EPS has moved down 0.5% in the past 60 days.

Image Source: Zacks Investment Research

State Street Corp increased its position in Globe Life Inc. (NYSE:GL – Free Report) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,735,409 shares of the company’s stock after purchasing an additional 76,745 shares during the quarter. State Street Corp owned approximately 4.86% of Globe Life worth $667,443,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new position in shares of Globe Life during the fourth quarter valued at $2,073,000. Amundi grew its holdings in shares of Globe Life by 307.4% during the second quarter. Amundi now owns 162,223 shares of the company’s stock valued at $28,986,000 after buying an additional 122,402 shares during the last quarter. Norges Bank bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $155,617,000. Sei Investments Co. raised its holdings in Globe Life by 49.1% in the 1st quarter. Sei Investments Co. now owns 71,795 shares of the company’s stock worth $9,993,000 after acquiring an additional 23,632 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Globe Life by 11.3% in the 4th quarter. Legal & General Group Plc now owns 178,297 shares of the company’s stock valued at $24,937,000 after acquiring an additional 18,104 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life In other news, EVP Robert Hensley sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the sale, the executive vice president owned 12,384 shares of the company’s stock, valued at $2,106,146.88. The trade was a 44.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Majors sold 37,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the sale, the executive vice president owned 53,518 shares of the company’s stock, valued at $9,560,455.52. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,650 shares of company stock valued at $25,793,717 in the last ninety days. Corporate insiders own 2.11% of the company’s stock.

Globe Life Stock Down 0.4% GL stock opened at $168.82 on Thursday. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 11.21 and a beta of 0.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The business’s 50-day moving average is $176.65 and its two-hundred day moving average is $163.20. Globe Life Inc. has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. Globe Life (NYSE:GL – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $3.05 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, analysts forecast that Globe Life Inc. will post 15.71 earnings per share for the current year.

Globe Life announced that its board has initiated a stock buyback plan on Monday, August 10th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the company to buy up to 17.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Globe Life Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life’s payout ratio is 8.76%.

Analyst Upgrades and Downgrades Several analysts have commented on GL shares. Wells Fargo & Company increased their target price on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler upped their price target on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley increased their price objective on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. TD Cowen lifted their price objective on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average price target of $191.67.

Get Our Latest Stock Report on Globe Life

About Globe Life (Free Report)

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.

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Amundi raised its stake in Globe Life Inc. (NYSE:GL – Free Report) by 307.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 162,223 shares of the company’s stock after buying an additional 122,402 shares during the quarter. Amundi owned approximately 0.21% of Globe Life worth $28,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GL. Hilton Head Capital Partners LLC acquired a new position in Globe Life during the 4th quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Globe Life in the second quarter valued at approximately $39,000. CYBER HORNET ETFs LLC bought a new stake in shares of Globe Life during the second quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the second quarter valued at approximately $31,000. Finally, AdvisorNet Financial Inc boosted its position in shares of Globe Life by 41.1% during the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades A number of brokerages recently issued reports on GL. Jefferies Financial Group increased their price objective on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Weiss Ratings lowered Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. TD Cowen increased their price target on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $191.67.

View Our Latest Stock Report on Globe Life Insiders Place Their Bets In other Globe Life news, CEO James Darden sold 50,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the transaction, the chief executive officer directly owned 58,451 shares of the company’s stock, valued at $10,663,215.93. This represents a 46.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Majors sold 37,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the transaction, the executive vice president owned 53,518 shares in the company, valued at $9,560,455.52. This represents a 40.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 141,908 shares of company stock worth $25,573,181. Insiders own 2.11% of the company’s stock.

Globe Life Stock Performance GL opened at $171.09 on Friday. The business has a 50 day moving average price of $177.70 and a two-hundred day moving average price of $161.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 11.36 and a beta of 0.46. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55.

Globe Life (NYSE:GL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is 8.76%.

Globe Life announced that its board has initiated a stock repurchase plan on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to reacquire up to 17.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About Globe Life (Free Report)

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.

Further Reading Five stocks we like better than Globe Life Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model Kroger’s Textbook Entry for Buy-and-Hold Investors AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window Amgen Drops 10% on a Trial It Didn’t Even Run Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL – Free Report).

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Globe Life (NYSE:GL – Get Free Report) and Fairfax Financial (OTCMKTS:FRFHF – Get Free Report) are both large-cap finance companies, but which is the better business? We will compare the two companies based on the strength of their earnings, analyst recommendations, profitability, risk, valuation, institutional ownership and dividends.

Dividends Globe Life pays an annual dividend of $1.32 per share and has a dividend yield of 0.8%. Fairfax Financial pays an annual dividend of $15.00 per share and has a dividend yield of 0.9%. Globe Life pays out 8.8% of its earnings in the form of a dividend. Fairfax Financial pays out 7.3% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Globe Life has increased its dividend for 20 consecutive years. Fairfax Financial is clearly the better dividend stock, given its higher yield and lower payout ratio.

Volatility and Risk Globe Life has a beta of 0.48, suggesting that its stock price is 52% less volatile than the S&P 500. Comparatively, Fairfax Financial has a beta of 0.49, suggesting that its stock price is 51% less volatile than the S&P 500.

Earnings and Valuation This table compares Globe Life and Fairfax Financial”s revenue, earnings per share and valuation. Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Globe Life $5.99 billion 2.22 $1.16 billion $15.06 11.49 Fairfax Financial $31.59 billion 1.08 $4.77 billion $204.10 8.04 Fairfax Financial has higher revenue and earnings than Globe Life. Fairfax Financial is trading at a lower price-to-earnings ratio than Globe Life, indicating that it is currently the more affordable of the two stocks.

Insider and Institutional Ownership 81.6% of Globe Life shares are held by institutional investors. Comparatively, 10.4% of Fairfax Financial shares are held by institutional investors. 2.1% of Globe Life shares are held by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock will outperform the market over the long term.

Profitability This table compares Globe Life and Fairfax Financial’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Globe Life 19.58% 20.52% 3.96% Fairfax Financial 13.83% 14.72% 4.16% Analyst Recommendations This is a summary of current recommendations and price targets for Globe Life and Fairfax Financial, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Globe Life 0 2 8 1 2.91 Fairfax Financial 0 3 3 0 2.50 Globe Life currently has a consensus price target of $191.67, indicating a potential upside of 10.73%. Given Globe Life’s stronger consensus rating and higher probable upside, research analysts clearly believe Globe Life is more favorable than Fairfax Financial.

Summary Globe Life beats Fairfax Financial on 11 of the 18 factors compared between the two stocks.

About Globe Life (Get Free Report)

Globe Life Inc., through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. It offers whole, term, and other life insurance products; Medicare supplement and supplemental health insurance products, such as accident, cancer, critical illness, heart, and intensive care plans; and single-premium and flexible-premium deferred annuities. The company sells its products through its direct to consumer division, exclusive agencies, and independent agents. The company was formerly known as Torchmark Corporation and changed its name to Globe Life Inc. in August 2019. Globe Life Inc. was founded in 1900 and is headquartered in McKinney, Texas.

(Get Free Report)

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments. It insures against losses to property from fire, explosion, earthquake, windstorm, flood, terrorism, boiler explosion, machinery breakdown, and construction defects, as well as underwrites automobile, commercial and personal property, and crop insurance. The company also offers workers' compensation, automobile, employer's liability, accident and health, medical malpractice, professional liability, and umbrella coverage insurance products; marine, aerospace, surety risk, and other risks and liabilities insurance products; and reinsurance products. In addition, it franchises, owns, and operates restaurants; retails sports lifestyle products; provides integrated travel and travel-related financial services, as well as advanced digital tools for agriculture; owns and operates holiday resorts; originates, processes, and distributes value-added pulses and staple foods; develops, manages, and invests in hospitality real estate. The company was formerly known as Markel Financial Holdings Limited and changed its name to Fairfax Financial Holdings Limited in 1987. Fairfax Financial Holdings Limited was incorporated in 1951 and is headquartered in Toronto, Canada.

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Bank of Nova Scotia purchased a new position in shares of Globe Life Inc. (NYSE:GL – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,404 shares of the company’s stock, valued at approximately $5,611,000.

A number of other hedge funds have also recently made changes to their positions in GL. Hilton Head Capital Partners LLC bought a new stake in shares of Globe Life in the 4th quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in Globe Life during the 2nd quarter worth approximately $39,000. CYBER HORNET ETFs LLC bought a new position in Globe Life during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc purchased a new position in Globe Life in the 2nd quarter worth approximately $31,000. Finally, Torren Management LLC purchased a new position in Globe Life in the 4th quarter worth approximately $37,000. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance GL opened at $172.44 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 11.45 and a beta of 0.48. The stock has a fifty day simple moving average of $178.54 and a two-hundred day simple moving average of $159.03. Globe Life Inc. has a 12-month low of $127.85 and a 12-month high of $191.55.

Globe Life (NYSE:GL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $3.05 EPS. The company’s revenue was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life Inc. will post 15.71 earnings per share for the current fiscal year. Globe Life declared that its board has initiated a share buyback program on Monday, August 10th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 17.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Globe Life Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life’s payout ratio is presently 8.76%.

Insider Activity at Globe Life In other news, CEO James Matthew Darden sold 50,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the sale, the chief executive officer owned 58,451 shares in the company, valued at $10,663,215.93. This represents a 46.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Clay Majors sold 37,000 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the sale, the executive vice president owned 53,518 shares in the company, valued at approximately $9,560,455.52. This represents a 40.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,908 shares of company stock worth $27,239,981 in the last ninety days. 2.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In Several research analysts have recently issued reports on GL shares. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Wells Fargo & Company increased their price target on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods cut their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Jefferies Financial Group boosted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.

Check Out Our Latest Stock Report on Globe Life

Globe Life Profile (Free Report)

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

Recommended Stories Five stocks we like better than Globe Life Pathward’s Credit Scare Tests Its Comeback Story Wiring the AI Boom: Rumble’s $13.7B Pivot StoneX: Too Far Too Fast? DICK’s Sporting Goods Faces Pain Now for a Bigger Prize Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL – Free Report).

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Key Takeaways Globe Life's health premium revenue rose 16% in Q2 2026, led by United American and Family Heritage.Health insurance grew to 34% of total premium revenue, up from 31% a year earlier.Approved rate increases are expected to generate about $65 million of additional premium. Globe Life Inc. (GL - Free Report) is benefiting from strong momentum in its health insurance business. Rising healthcare spending, strong Medicare Supplement demand, rate increases and expanding distribution are driving growth and creating a foundation for higher earnings.

Health premium revenues increased 16% year over year in the second quarter of 2026. United American's health premiums rose 29%, while Family Heritage's increased 9%. Health insurance accounted for 34% of total premium revenues, up from 31% a year earlier, highlighting its growing contribution to Globe Life's business.

Rising healthcare spending could further support demand for supplemental health coverage. The Centers for Medicare & Medicaid Services projects national health expenditures to grow 5.4% annually through 2034. Strong Medicare Supplement sales are supporting Globe Life's health premium growth, while approved rate increases on individual health products are expected to generate approximately $65 million of additional premium.

Globe Life's distribution network provides another growth driver. In the second quarter of 2026, Family Heritage's average producing agent count increased 7%, supporting broader customer reach and health sales.

However, medical inflation remains a challenge for Accident & Health insurers. Higher medical costs can pressure claims and underwriting margins, although Globe Life's rate increases should help offset some of this pressure.

Overall, strong demand, favorable rates and expanding distribution should support Globe Life's health business. The Health Insurance segment is becoming an important contributor to GL's premium growth, underwriting profitability and earnings momentum.

What About Its Peers?Aflac Incorporated's (AFL - Free Report) supplemental health business remains a key driver of its growth, with products designed to help customers cover expenses not fully paid by major medical insurance. The company is benefiting from demand for supplemental coverage as healthcare costs rise, while its broad distribution network supports policy sales and premium growth. Net earned premiums increased 2.3% in the second quarter of 2026.

CNO Financial Group's (CNO - Free Report) health business provides supplemental health and Medicare Supplement products to middle-income Americans. Health collected premiums increased 5.5% year over year to $432 million in the second quarter of 2026. Its health business benefits from demand for products that help customers manage healthcare expenses and financial protection needs.

GL’s Price PerformanceShares of GL have gained 22.7% in the past year compared with the industry’s growth of 10.9%.

Image Source: Zacks Investment Research

GL’s Discounted ValuationThe stock is undervalued compared with its industry. It is currently trading at a price-to-earnings value multiple of 10.54, lower than the industry average of 13.13X. It has a Value Score of B.

Image Source: Zacks Investment Research

Favorable Estimate Movement for GLThe Zacks Consensus Estimate for Globe Life’s 2026 earnings per share (EPS) indicates a year-over-year increase of 8.2%. The consensus estimate for revenues is pegged at $6.40 billion, implying a year-over-year improvement of 6.3%.

The consensus estimate for 2027 EPS and revenues indicates an increase of 5.1% and 6.1%, respectively, from the corresponding 2026 estimates.

The Zacks Consensus Estimate for 2026 earnings moved 0.4% north, while 2027 earnings have moved 0.6% south over the last 30 days.

Image Source: Zacks Investment Research

GL stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It has been about a month since the last earnings report for Globe Life (GL - Free Report) . Shares have lost about 0.3% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Globe Life due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Globe Life Inc. before we dive into how investors and analysts have reacted as of late.

Globe Life Q2 Earnings Miss Estimates on Escalating Expenses

Globe Life Inc. reported second-quarter 2026 net operating income of $3.61 per share, which missed the Zacks Consensus Estimate of $3.67 by 1.6%. The bottom line, however, improved 10% year over year, driven by higher insurance underwriting income. The quarter benefited from higher premium revenues, stronger insurance underwriting income, and increased investment income. Higher premium revenues reflected continued strength across the company’s life and health insurance businesses.

GL Benefits From Premium Growth Across Insurance BusinessTotal premium revenues increased 7% year over year to $1.30 billion. Life insurance premiums rose 3% to $860.8 million, while health insurance premiums climbed 16% to $436.9 million, supported by strong growth at United American and Family Heritage. Operating revenues increased 8% year over year to $1.60 billion, driven by higher premium income, stronger net investment income and realized investment gains. The top line surpassed the Zacks Consensus Estimate by 0.6%.

Globe Life Posts Higher Underwriting and Investment IncomeInsurance underwriting income increased 5% year over year to $370.3 million. Life underwriting income rose 6% to $359.4 million, while health underwriting income edged up 1% to $99.3 million. Net investment income rose 4% year over year to $293.8 million. Excess investment income, a key profitability measure, rose 10% to $38.3 million as higher investment income more than offset increased required interest on policy liabilities.

Administrative expenses were up 6.2% year over year to $91.4 million.
Total benefits and expenses increased 6.5% year over year to $1.2 billion, primarily due to higher total policyholder benefits, amortization of deferred acquisition costs, commissions, premium taxes and non-deferred acquisition costs, interest expense and other operating expense.

GL's Distribution Channels Deliver Mixed ResultsLife insurance premium growth was led by the American Income division, where premiums increased 5% year over year to $466.3 million. Liberty National premiums rose 3%, while Direct to Consumer premiums slipped 1%. Overall life net sales declined 3% to $149.6 million as weaker Direct to Consumer sales more than offset Liberty National's gains.

Health insurance continued to outperform. United American health premiums surged 29% year over year to $211.4 million, while Family Heritage premiums increased 9%. Total health net sales improved 2% to $70.4 million, supported by double-digit growth at United American despite softer performance at Liberty National and American Income.

Globe Life Strengthens Capital PositionBook value per share increased 18% year over year to $78.18. Excluding accumulated other comprehensive income (AOCI), book value per share rose 11% to $100.04. Net income return on equity was 18.4% for the first six months of 2026, down 40 basis points year over year. Net operating income return on equity, excluding AOCI, was 14.3%, down 10 basis points year over year. During the reported quarter, Globe Life repurchased 1.1 million shares for $175 million at an average price of $154.28 per share, continuing its shareholder return strategy.

GL Raises 2026 Earnings OutlookGlobe Life raised its full-year 2026 net operating income guidance to a range of $15.55-$15.95 per share, suggesting a 10-cent increase at the midpoint from its prior outlook.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.

VGM ScoresCurrently, Globe Life has a poor Growth Score of F, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Globe Life has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

On August 19, 2026, Globe Life Inc GL shares fell 3.7% to a current price of $171.46, marking a decline amidst a 52-week range of $127.85 to $191.55. This drop in share price comes as the stock has experienced a 7.2% decrease over the past month, but remains up 23.4% year-to-date and 26.4% over the last year.

GF Value™ verdict: Currently priced at $171.46, GL is estimated to be 14.5% overvalued compared to a GF Value™ of $149.77.GF Score™ of 85/100 indicates a strong overall performance in various financial metrics.Notable signal: Insider activity shows $92.2M in sales over the past 12 months without any buying, suggesting a cautious outlook from insiders.Is GL Overvalued or Undervalued?Globe Life Inc's current share price of $171.46 is significantly above its GF Value™ estimate of $149.77, indicating that the stock is overvalued by 14.5%. The GF Value™ is GuruFocus' proprietary intrinsic value estimate, which is derived from a combination of historical trading multiples, past business growth, and future performance expectations. This overvaluation presents a risk for investors, as buying at inflated prices can lead to potential losses if the market corrects itself.

The GF Valuation label indicates that GL is modestly overvalued, which aligns with the GF Value™ analysis. The margin of safety is limited, suggesting that now may not be the optimal time to invest in this stock unless there are compelling reasons to believe in its future growth potential.

How Does GL's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)11.4x12.0xForward P/E10.9xN/AGlobe Life Inc's current P/E ratio of 11.4x is slightly below its 5-year median P/E of 12.0x, indicating that the stock is trading at a lower valuation compared to its historical levels. This analysis of the P/E ratio supports the GF Value™ verdict of being overvalued; despite the lower P/E, the price remains significantly above the GF Value™ estimate.

What Does GL's GF Score™ Tell Us?The GF Score™ is a comprehensive metric that evaluates a company's financial strength, profitability, growth potential, valuation, and momentum. Globe Life Inc holds a strong GF Score™ of 85/100, reflecting its solid performance in key areas.

MetricRatingGF Score™85Financial Strength4/10Profitability8/10Growth9/10Valuation6/10Momentum6/10Globe Life's strongest sub-rank is in Growth with a rating of 9/10, indicating strong potential for future expansion. Conversely, its Financial Strength score of 4/10 raises concerns about its balance sheet stability. Overall, while the company shows promise in growth and profitability, its financial strength may be a limiting factor in the face of current overvaluation risks.

What Are Gurus and Insiders Doing with GL?Currently, 6 gurus hold shares of Globe Life Inc, with 5 of them adding to their positions and 3 trimming their holdings in recent quarters. This indicates a cautious but generally positive sentiment among institutional investors.

In terms of insider activity, the trend is concerning as insiders have sold $92.2M worth of shares over the past 12 months without any buying activity. This pattern suggests that those closest to the company may have reservations about its current valuation and future performance, which could reflect underlying issues that investors should consider.

What This Means for InvestorsBased on the GF Value™ assessment, Globe Life Inc appears to be overvalued at its current price of $171.46, with significant risk associated with purchasing shares above the intrinsic value of $149.77. Investors should weigh the potential of the company's strong growth and profitability against the risks highlighted by insider selling and limited financial strength. For more detailed insights, visit the Globe Life Inc GL stock page.

Frequently Asked QuestionsWhat is GL's GF Score™?

Globe Life Inc has a GF Score™ of 85/100, indicating a strong overall performance across key financial metrics.

Is GL overvalued or undervalued?

GL is currently overvalued, with a GF Value™ estimate of $149.77 compared to its current price of $171.46.

What is GL's P/E ratio?

GL's P/E ratio is 11.4x, which is slightly below its 5-year median of 12.0x, suggesting it is trading at a lower valuation relative to its historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

Posted by Defense World Staff on Aug 11th, 2026

Globe Life (NYSE:GL – Get Free Report) declared that its board has approved a stock buyback plan on Monday, August 10th, RTT News reports. The company plans to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 17.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes Several analysts have weighed in on the stock. Truist Financial boosted their price target on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Morgan Stanley increased their target price on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Keefe, Bruyette & Woods decreased their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, TD Cowen lifted their target price on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $191.67.

Read Our Latest Report on Globe Life

Globe Life Stock Performance Shares of GL stock opened at $183.08 on Tuesday. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of 12.16 and a beta of 0.48. The stock has a fifty day moving average of $175.06 and a 200 day moving average of $156.22. Globe Life has a 52 week low of $127.85 and a 52 week high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.67 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, research analysts expect that Globe Life will post 15.7 earnings per share for the current year.

Globe Life Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, October 5th. Globe Life’s dividend payout ratio (DPR) is presently 8.76%.

Insider Activity at Globe Life In other Globe Life news, CFO Thomas Peter Kalmbach sold 21,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $180.06, for a total value of $3,781,260.00. Following the completion of the transaction, the chief financial officer owned 50,568 shares in the company, valued at approximately $9,105,274.08. This represents a 29.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Matthew Darden sold 50,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the sale, the chief executive officer owned 58,451 shares in the company, valued at approximately $10,663,215.93. This trade represents a 46.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 191,747 shares of company stock valued at $33,480,408 over the last ninety days. Insiders own 2.11% of the company’s stock.

Globe Life Company Profile Get Free Report)

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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Posted by Defense World Staff on Aug 8th, 2026

Crawford & Company (NYSE:CRD.B – Get Free Report) and Globe Life (NYSE:GL – Get Free Report) are both finance companies, but which is the better stock? We will compare the two businesses based on the strength of their institutional ownership, earnings, risk, profitability, dividends, analyst recommendations and valuation.

Dividends Crawford & Company pays an annual dividend of $0.30 per share and has a dividend yield of 2.4%. Globe Life pays an annual dividend of $1.32 per share and has a dividend yield of 0.7%. Crawford & Company pays out 62.5% of its earnings in the form of a dividend. Globe Life pays out 8.8% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Globe Life has increased its dividend for 20 consecutive years.

Risk & Volatility Crawford & Company has a beta of 0.6, meaning that its share price is 40% less volatile than the S&P 500. Comparatively, Globe Life has a beta of 0.48, meaning that its share price is 52% less volatile than the S&P 500.

Analyst Recommendations This is a summary of current ratings and recommmendations for Crawford & Company and Globe Life, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Crawford & Company 0 1 0 0 2.00 Globe Life 0 2 8 1 2.91 Globe Life has a consensus target price of $191.67, suggesting a potential upside of 4.43%. Given Globe Life’s stronger consensus rating and higher possible upside, analysts clearly believe Globe Life is more favorable than Crawford & Company.

Valuation and Earnings This table compares Crawford & Company and Globe Life”s top-line revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Crawford & Company $1.31 billion 0.46 $19.63 million $0.48 25.90 Globe Life $5.99 billion 2.35 $1.16 billion $15.06 12.19 Globe Life has higher revenue and earnings than Crawford & Company. Globe Life is trading at a lower price-to-earnings ratio than Crawford & Company, indicating that it is currently the more affordable of the two stocks.

Institutional and Insider Ownership 11.0% of Crawford & Company shares are held by institutional investors. Comparatively, 81.6% of Globe Life shares are held by institutional investors. 51.0% of Crawford & Company shares are held by insiders. Comparatively, 2.1% of Globe Life shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company is poised for long-term growth.

Profitability This table compares Crawford & Company and Globe Life’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Crawford & Company 1.81% 28.15% 6.51% Globe Life 19.58% 20.52% 3.96% Summary Globe Life beats Crawford & Company on 12 of the 18 factors compared between the two stocks.

About Crawford & Company (Get Free Report)

Crawford & Co. engages in the provision of claims management and outsourcing solutions to carriers, brokers, and corporates. It operates through the following segments: Crawford Loss Adjusting, Crawford TPA Solutions, and Crawford Platform Solutions. The Crawford Loss Adjusting segment consists of adjusting services provided to insurance companies and self-insured entities related to property and casualty losses caused by physical damage to commercial and residential real property and certain types of personal property. The Crawford TPA Solutions segment provides third party administration for workers’ compensation, auto and liability, disability absence management, medical management, and accident and health to corporations, brokers, and insurers worldwide. The Crawford Platform Solutions segment is involved in the management of contractor networks and the provision of claims management services to insurance companies and self-insured entities related to property, casualty, and catastrophic losses. The company was founded by Jim Crawford in 1941 and is headquartered in Peachtree Corners, GA.

About Globe Life (Get Free Report)

Globe Life Inc., through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. It offers whole, term, and other life insurance products; Medicare supplement and supplemental health insurance products, such as accident, cancer, critical illness, heart, and intensive care plans; and single-premium and flexible-premium deferred annuities. The company sells its products through its direct to consumer division, exclusive agencies, and independent agents. The company was formerly known as Torchmark Corporation and changed its name to Globe Life Inc. in August 2019. Globe Life Inc. was founded in 1900 and is headquartered in McKinney, Texas.

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Posted by Defense World Staff on Aug 6th, 2026

Amundi boosted its stake in Globe Life Inc. (NYSE:GL – Free Report) by 627.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,821 shares of the company’s stock after purchasing an additional 34,347 shares during the period. Amundi owned approximately 0.05% of Globe Life worth $5,542,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new stake in Globe Life during the fourth quarter valued at $30,000. CYBER HORNET ETFs LLC purchased a new position in Globe Life in the second quarter worth about $28,000. MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the 2nd quarter valued at about $31,000. Torren Management LLC bought a new stake in shares of Globe Life during the 4th quarter valued at about $37,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Globe Life by 41.1% during the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after purchasing an additional 92 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Piper Sandler upped their target price on shares of Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Wells Fargo & Company increased their price target on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group boosted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $191.67.

Check Out Our Latest Stock Analysis on GL

Globe Life Stock Performance GL opened at $183.81 on Thursday. The company has a 50 day simple moving average of $173.21 and a two-hundred day simple moving average of $155.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market cap of $14.27 billion, a P/E ratio of 12.20 and a beta of 0.48. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55.

Globe Life (NYSE:GL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.67 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.73%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts forecast that Globe Life Inc. will post 15.7 earnings per share for the current fiscal year.

Insiders Place Their Bets In related news, CEO Frank M. Svoboda sold 20,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $156.68, for a total transaction of $3,133,600.00. Following the completion of the sale, the chief executive officer owned 54,020 shares in the company, valued at approximately $8,463,853.60. This trade represents a 27.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 25,650 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $178.58, for a total transaction of $4,580,577.00. Following the sale, the chief financial officer directly owned 50,568 shares of the company’s stock, valued at approximately $9,030,433.44. This trade represents a 33.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 219,174 shares of company stock valued at $37,675,349. Insiders own 2.11% of the company’s stock.

Globe Life Profile (Free Report)

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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Posted by Defense World Staff on Jul 25th, 2026

Arrowstreet Capital Limited Partnership reduced its stake in shares of Globe Life Inc. (NYSE:GL – Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,402,976 shares of the company’s stock after selling 32,271 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.81% of Globe Life worth $195,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compound Planning Inc. raised its holdings in Globe Life by 4.3% in the fourth quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock worth $275,000 after buying an additional 82 shares during the last quarter. Root Financial Partners LLC boosted its position in shares of Globe Life by 23.3% during the first quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 83 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of Globe Life by 3.9% in the 4th quarter. Transcend Capital Advisors LLC now owns 2,265 shares of the company’s stock worth $317,000 after buying an additional 84 shares during the last quarter. Natural Investments LLC grew its holdings in shares of Globe Life by 2.6% in the fourth quarter. Natural Investments LLC now owns 3,452 shares of the company’s stock worth $482,000 after acquiring an additional 87 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Globe Life by 5.6% in the fourth quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock worth $231,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life News Summary Here are the key news stories impacting Globe Life this week:

Positive Sentiment: Keefe, Bruyette & Woods trimmed its price target only modestly to $190 from $192 and kept an outperform rating, implying roughly 9% upside from recent levels. Benzinga article Positive Sentiment: TD Cowen also reiterated a bullish view, forecasting strong price appreciation for Globe Life (GL). American Banking News article Positive Sentiment: Management raised its 2026 net operating EPS guidance to $15.55-$15.95 and lifted share repurchases to $670 million-$700 million, signaling confidence in future earnings and capital returns. Seeking Alpha article Neutral Sentiment: Globe Life’s Q2 revenue came in roughly in line with expectations, and underwriting income remained strong, showing the core business is still performing acceptably despite some headwinds. Reuters article Negative Sentiment: Q2 earnings of $3.61 per share missed the consensus estimate of $3.67, and several reports pointed to softer sales and rising expenses as reasons for investor concern. MSN article Insider Activity In other news, CFO Thomas Peter Kalmbach sold 7,936 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $156.59, for a total value of $1,242,698.24. Following the transaction, the chief financial officer owned 50,496 shares of the company’s stock, valued at $7,907,168.64. This represents a 13.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 10,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. This represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 90,187 shares of company stock worth $14,299,874 in the last 90 days. 2.11% of the stock is owned by corporate insiders.

Globe Life Stock Performance NYSE:GL opened at $173.64 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $169.07 and its 200-day moving average price is $152.91. The company has a market cap of $13.48 billion, a P/E ratio of 11.53 and a beta of 0.47. Globe Life Inc. has a twelve month low of $127.85 and a twelve month high of $191.55.

Globe Life (NYSE:GL – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). Globe Life had a return on equity of 20.73% and a net margin of 19.58%.The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business earned $3.05 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, sell-side analysts forecast that Globe Life Inc. will post 15.67 earnings per share for the current fiscal year.

Globe Life Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, July 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is currently 9.13%.

Analysts Set New Price Targets A number of analysts have commented on GL shares. Morgan Stanley upped their price target on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods decreased their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday. Jefferies Financial Group increased their price target on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Wells Fargo & Company raised their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price target on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $187.40.

Check Out Our Latest Research Report on GL

Globe Life Company Profile (Free Report)

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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Beyond the Foundry: 5 Infrastructure Stocks Tackling the AI BottlenecksGlobe Life NYSE: GL reported higher second-quarter earnings and raised its full-year outlook, with executives pointing to favorable life underwriting trends, growth in health premiums and stronger excess investment income, while also addressing changes in online advertising and agent recruiting.

Frank Svoboda, Globe Life’s co-chairman and CEO, said net income for the quarter was $288 million, or $3.65 per share, up 20% from $3.05 per share a year earlier. Net operating income was $285 million, or $3.61 per share, up 10% from $3.27 per share in the prior-year quarter.

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The AI Boom Has a Second Act—And It's Playing Out in Optics“We are pleased to see continued strong results in our operations,” Svoboda said, adding that the company has generated double-digit net operating income per share growth in eight of the last nine quarters. On a GAAP basis, return on equity through June 30 was 18.4%, while book value per share was $70.18. Excluding accumulated other comprehensive income, return on equity was 14.3% and book value per share was $100.04, up 11% from a year earlier.

Premium Growth Led by Health Insurance Total premium revenue rose 7% in the second quarter, and Svoboda said the company expects full-year total premium growth of 6.5% to 7%.

Corning Is Paving AI's Future With GlassLife premium revenue increased 3% to $861 million, while life underwriting margin rose 6% to $359 million. The life underwriting margin as a percentage of premium was 42%, up from 41% a year earlier. Globe Life expects full-year life premium revenue growth of 2.5% to 3%.

Health insurance premium revenue increased 16% to $437 million, driven by Medicare Supplement rate increases and sales growth in the United American and Family Heritage divisions. Health underwriting margin rose 1% to $99 million, though the margin as a percentage of premium fell to about 23% from 26% a year earlier. Management expects full-year health premium growth of 14% to 16% and health underwriting margins of 23% to 27%.

Tom Kalmbach, executive vice president and chief financial officer, said life policy obligations as a percentage of premium improved to 34.3% from 36.7% a year earlier, reflecting favorable mortality trends. Health obligations rose to 56.8% from 53.3%, which he said was higher than management’s estimates due to several factors, including Medicare Supplement claims related to prior periods, an industry-wide CMS physician reimbursement rate correction, higher loss ratios at Evry Health and an adverse fluctuation in cancer claims at Liberty National.

Distribution Results Mixed Across Divisions Matt Darden, co-CEO, said American Income Life premiums rose 5% to $466 million, while life underwriting margin increased 4% to $214 million. Net life sales fell 2% to $95 million, primarily because of a lower agent count. The average producing agent count was 11,391, down 7% from a year earlier but up 3% from the end of the first quarter.

Darden said compensation changes implemented at the start of the second quarter were intended to improve agent recruiting and new-agent retention, and he expects mid-single-digit growth in both agent count and life sales at American Income during the second half of the year.

At Liberty National, life premiums rose 3% to $101 million, and life underwriting margin increased 10% to $37 million. Net life sales rose 6% to $26 million, while net health sales fell 15% to $7 million as the division emphasized life business. Darden said the company is changing its sales presentation to place more emphasis on health sales.

Family Heritage health premiums increased 9% to $126 million, and health underwriting margin rose 10% to $45 million. Net health sales increased 4% to $31 million, supported by a 7% increase in average producing agent count.

United American health premiums rose 29% to $211 million, while health underwriting margin was $11 million, down $1 million from a year earlier. Net health sales increased 10% to $28 million. Darden said Medicare Supplement sales remained strong, supported by more people turning 65, movement from Medicare Advantage to Medicare Supplement and rate increases implemented during the quarter. He noted that Globe Life does not market Medicare Advantage plans.

Direct-to-Consumer Faces AI-Driven Advertising Shift Globe Life’s direct-to-consumer division reported life premiums down about 1% to $244 million, while life underwriting margin rose 10% to $76 million. Net life sales fell 15% to $27 million.

Darden said the direct-to-consumer business is in a transition period as consumers increasingly use AI tools to search online for goods and services, including life insurance. That change has reduced paid search volume from internet marketing and raised the cost of paid search.

“We’re going to be disciplined on our spend and make sure that we maintain our margin, and we’re not just going to chase sales that don’t meet our profitability targets,” Darden said during the question-and-answer session.

He said Globe Life is working to make its digital content more visible and easier for AI assistants to interpret, while also using platforms such as Instagram and Facebook. He compared the shift to the earlier transition from direct mail to digital marketing. The company still expects to generate more than 1 million leads this year to support its agencies.

Guidance Raised as Buybacks Increase Kalmbach said Globe Life now expects 2026 net operating earnings per diluted share of $15.55 to $15.95, representing 8.5% growth at the midpoint. He said the increase from prior guidance was primarily due to improved life underwriting margins and excess investment income, partly offset by higher financing costs and the reduced impact of share repurchases due to a higher share price.

The outlook includes expected remeasurement gains from third-quarter life and health assumption updates of $110 million to $130 million. Kalmbach said the life assumption update is expected to contribute $90 million to $100 million, while the health assumption update is expected to contribute $20 million to $30 million.

During the second quarter, Globe Life repurchased about 1.1 million shares for $175 million at an average price of $154.28. Including $25 million in dividends, the company returned about $200 million to shareholders in the quarter.

Kalmbach said the company expects full-year dividends of about $95 million and share repurchases of $670 million to $700 million, a $100 million increase at the midpoint from the prior call. He corrected an earlier statement during the Q&A, saying the company expects to return approximately $350 million to $370 million to shareholders over the remainder of the year.

Investment Income and Bermuda Entity in Focus Excess investment income rose 10% to $38 million. Net investment income increased 4% to $294 million, while average invested assets grew 2%. Svoboda said Globe Life invested $399 million in fixed maturities during the quarter at an average yield of 6.27%, with an average rating of A and an average life of 36 years. The company also invested about $91 million in commercial mortgage loans and other long-term investments with debt-like characteristics.

Svoboda said invested assets totaled $22.1 billion, including $19.3 billion of fixed maturities at amortized cost. The fixed maturity portfolio had a net unrealized loss position of $1.4 billion, which he said was mostly interest-rate driven and related entirely to bonds with maturities beyond 10 years.

Kalmbach also provided an update on Globe Life Re, the company’s Bermuda reinsurance affiliate. He said Nebraska approved reciprocal jurisdiction for Globe Life Re in the second quarter, and the company is seeking similar approval from Indiana, American Income’s state of domicile. Globe Life expects to complete a new reinsurance cession in the third quarter, reinsuring a portion of new business and in-force policies to Globe Life Re.

Kalmbach said the company does not expect a capital benefit from the next reinsurance transaction in 2026, but expects some benefit in 2027, with the full impact emerging over three to five years.

About Globe Life (NYSE:GL)Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company's product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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23.7.2026 19:01

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Index Dow Jones odepisuje téměř procento pří výprodeji technologických společností. Mimo Alphabet klesá i Amazon (- 4,1 %) a Salesforce ( -3,5 %). Z indexu S&P 500 se mimo komunikační služby nedaří zbytné spotřebě, kde reportovala výsledky společnost Tesla (- 14 %).

Thermo Fisher Scientific (8,2 %) roste po kvartálním reportu. Mimo dobré čísla management uvedl, že společnost cítí oživení poptávky ve všech hlavních segmentech. Nejedná se přitom o pouhé doplňování zásob, ale i dodávání analytických přístrojů, jelikož divize Analytical Instruments vzrostla o 15 %. Tržby za minulý kvartál dosahují USD 11,99 mld. a společně se ziskem na akcii USD 6,03 překonávají očekávání trhu. Společnost rovněž navyšuje odhad celoročního zisku na akcii na horní hranu USD 25,33.

Smíšený pocit z kvartálních výsledků mají investoři Freeport-McMoRan (- 2,6 %). Společnost sice dosáhla na lepší ziskovost, než bylo očekávání a reportovala EPS ve výši USD 0,74. Meziroční nárůst prodejní ceny mědi dosáhl 40 %. Vyšší prodejní ceny tak kompenzují nižší objemy produkce, které u zlata dosahují 40 % a u mědi 18 %. Management snížil výhled prodeje v dalším kvartále kvůli pomalému obnovování těžby v indonéském dole, který by měl dosáhnout plnou kapacitu až v příštím roce.

Lockheed Martin (10 %) reportoval silné výsledky za uplynulý kvartál. Růst tržeb dosáhl 11 % na mld. 20,1 USD a zisk na akcii překonal na úrovni USD 7,94 očekávání. Management současně navýšil celoroční výhled a tržby posadil mezi USD 79,75 – 81,75 mld. při zisku na akcii 29,95 – 30,65. Nevyřízené zakázky dosahují historické maximum společnosti USD 230 mld.

Po včerejším uzavření trhu reportovala výsledky i společnost Texas Instruments (- 4,4 %). Růst tržeb meziročně dosáhl na 23 % a nad konsenzus se dostal i zisk na akcii ve výši USD 2,14. Management v dalším kvartálu očekává jeho další růst na USD 2,23 – 2,57. Provozní výsledky a výhled byl slušný, ale trh nadále vyrušuje výše capex investic, které omezuje volné cash flow.

Výsledky dále zveřejnila i IBM (- 0,5 %) a společnost Alphabet (- 6,6 %).

SK Hynix (4,9 %) stanovuje limit na celkový počet vydaných ADR, které se obchodují v USA na 2,5 % všech akcií společnosti.

Uber Technologies (- 2,15 %) propustil 10 % zaměstnanců v divizi Community Operations, která se stará o zákaznickou a řidičskou podporu. Společnost dříve propustila přibližně 23 % zaměstnanců HR. K zefektivnění provozu ji pomáhá umělá inteligence.

Blízký východ je nadále velmi turbulentní. Futures na ropu Brent jsou opět nad USD 100 při téměř 7 % růstu. WTI se obchoduje nad USD 92. Hútíové oznámili, že zaútočili na dva saúdské tankery v Rudém moři. Posilují ropné společnosti. Exxon připisuje 1,87 % a Chevron roste o 1,5 %.

Index S&P 500 -1,19 % na 7409,52 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Průmysl +1,8 % Zbytná spotřeba -4,9 % Energie +1 % Komunikační služby -4,8 % Zdravotní péče +0,8 % Nezbytná spotřeba -1,4 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Allegion (ALLE) +13 % Tesla (TSLA) -14 % United Rentals (URI) +12 % Rollins (ROL) -9,3 % Lockheed Martin Corp (LMT) +10 % Dover Corp (DOV) -7,7 % Thermo Fisher Scientific (TMO) +8,2 % Globe Life (GL) -7,7 % RTX Corp (RTX) +7,2 % T-Mobile US (TMUS) -6,8 %
Marek Kameništiak
Fio banka, a.s.
Prohlášení

Globe Life (GL - Free Report) came out with quarterly earnings of $3.61 per share, missing the Zacks Consensus Estimate of $3.67 per share. This compares to earnings of $3.27 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -1.64%. A quarter ago, it was expected that this life and health insurance company would post earnings of $3.46 per share when it actually produced earnings of $3.43, delivering a surprise of -0.87%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Globe Life, which belongs to the Zacks Insurance - Accident and Health industry, posted revenues of $1.59 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.22%. This compares to year-ago revenues of $1.5 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Globe Life shares have added about 31.8% since the beginning of the year versus the S&P 500's gain of 9.7%.

What's Next for Globe Life?While Globe Life has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Globe Life was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.71 on $1.61 billion in revenues for the coming quarter and $15.64 on $6.4 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Accident and Health is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Trupanion (TRUP - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This provider of medical insurance covering cats and dogs is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Trupanion's revenues are expected to be $389.65 million, up 10.2% from the year-ago quarter.

, /PRNewswire/ -- Globe Life Inc. (NYSE: GL) reported today that for the quarter ended June 30, 2026, net income was $3.65 per diluted common share, compared with $3.05 per diluted common share for the year-ago quarter. Net operating income was $3.61 per diluted common share, compared with $3.27 per diluted common share for the year-ago quarter. The Company also increased full-year 2026 earnings guidance to a range of $15.55 to $15.95, an increase of $0.10 at the midpoint.

HIGHLIGHTS:

Net income per share increased 20% and net operating income per share increased 10% over the year-ago quarter. Globe Life has produced double-digit growth in net operating income per share in eight of the last nine quarters.                 Net income as an ROE was 18.4% for the six months ended June 30, 2026. Book value per share was $78.18, an increase of 18% over the year-ago quarter. Net operating income as an ROE excluding accumulated other comprehensive income (AOCI) was 14.3% for the six months ended June 30, 2026. Book value per share excluding AOCI was $100.04, an increase of 11% over the year-ago quarter. Total premium revenue grew 7% over the year-ago quarter.  At the American Income Life Division, life premium increased 5% and life underwriting margin increased 4% over the year-ago quarter. At the Liberty National Division, life underwriting margin increased 10% and life net sales increased 6% over the year-ago quarter. Additionally, the average producing agent count increased 8% over the year-ago quarter. At the Family Heritage Division, health underwriting margin increased 10%, health premium increased 9%, and health net sales increased 4% over the year-ago quarter. Additionally, the average producing agent count increased 7% over the year-ago quarter.  At the Direct to Consumer Division, life underwriting margin increased 10% over the year-ago quarter.  At the United American Division, health premium increased 29% and health net sales increased 10% over the year-ago quarter.   1.1 million shares of Globe Life Inc. common stock were repurchased during the quarter at a total cost of $175 million. Note: As used in the earnings release, "Globe Life," the "Company," "we," "our," and "us" refer to Globe Life Inc., a Delaware corporation incorporated in 1979, its subsidiaries and affiliates.

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

   RESULTS OF OPERATIONS

Net operating income, a non-GAAP(1) financial measure, has been used consistently by Globe Life's management for many years to evaluate the operating performance of the Company, and is a measure commonly used in the life insurance industry. It differs from net income primarily because it excludes certain non-operating items such as realized investment gains and losses and certain significant and unusual items included in net income. Management believes an analysis of net operating income is important in understanding the profitability and operating trends of the Company's business. Net income is the most directly comparable GAAP measure.

The following table represents Globe Life's operating summary for the three months ended June 30, 2026 and 2025:

Operating Summary

Per Share

Three Months Ended

June 30,

Three Months Ended

June 30,

2026

2025

%

Chg.

2026

2025

%

Chg.

Insurance underwriting income(2)

$       4.69

$       4.28

10

$   370,289

$   354,176

5

Excess investment income(2)

0.49

0.42

17

38,315

34,828

10

Interest on debt

(0.46)

(0.42)

10

(36,050)

(34,885)

3

Parent company expense

(0.06)

(0.04)

(4,569)

(3,555)

Income tax expense

(0.89)

(0.82)

9

(70,202)

(68,062)

3

Stock compensation benefit (expense), net of tax

(0.17)

(0.14)

(13,098)

(11,407)

Net operating income

3.61

3.27

10

284,685

271,095

5

Reconciling items, net of tax:

Realized gain (loss)

0.07

(0.18)

5,639

(14,674)

Legal proceedings

(0.03)

(0.04)

(2,577)

(3,672)

Net income(3)

$       3.65

$       3.05

$   287,747

$   252,749

Weighted average diluted shares outstanding

78,909

82,793

(1)

GAAP is defined as accounting principles generally accepted in the United States of America.

(2)

Definitions included within this document.

(3)

A GAAP-basis condensed consolidated statement of operations is included in the appendix of this report.

Note: Tables in this earnings release may not sum due to rounding.

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

MANAGEMENT VS. GAAP MEASURES

Shareholders' equity, excluding AOCI, and book value per share, excluding AOCI, are non-GAAP measures that are utilized by management to view the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. Management views the business in this manner because it creates more meaningful and easily identifiable trends, as we exclude fluctuations resulting from changes in interest rates. Shareholders' equity and book value per share are the most directly comparable GAAP measures. 

Six Months Ended

June 30,

2026

2025

Net income

$     558,273

$     507,312

Net operating income

558,205

530,432

Net income as an ROE(1)

18.4 %

18.8 %

Net operating income as an ROE (excluding AOCI)(1)

14.3 %

14.4 %

June 30,

2026

2025

Shareholders' equity

$   6,155,815

$   5,419,030

Impact of adjustment to exclude AOCI

1,721,729

1,983,868

Shareholders' equity, excluding AOCI

$   7,877,544

$   7,402,898

Book value per share

$        78.18

$        66.07

Impact of adjustment to exclude AOCI

21.86

24.19

Book value per share, excluding AOCI

$      100.04

$        90.26

(1)

Calculated using average shareholders' equity for the measurement period.

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

INSURANCE OPERATIONS: 

Life insurance accounted for 78% of the Company's insurance underwriting margin for the quarter and 66% of total premium revenue. 

Health insurance accounted for 22% of the Company's insurance underwriting margin for the quarter and 34% of total premium revenue.

The following table summarizes Globe Life's premium revenue by product type for the three months ended June 30, 2026 and 2025:

Insurance Premium Revenue

Quarter Ended

June 30, 2026

June 30, 2025

%

Chg.

Life insurance

$       860,767

$       839,544

3

Health insurance

436,855

378,099

16

Total

$     1,297,622

$     1,217,643

7

INSURANCE UNDERWRITING INCOME

Insurance underwriting margin is management's measure of profitability of the Company's life and health segments' underwriting performance, and consists of premiums less policy obligations (excluding interest on policy liabilities), commissions and other acquisition expenses. Insurance underwriting income is the sum of the insurance underwriting margins of the life and health segments, plus annuity and other income, less administrative expenses. It excludes the investment segment, interest on debt, Parent Company expense, stock compensation expense and income taxes. Management believes this information helps provide a better understanding of the business and a more meaningful analysis of underwriting results by distribution channel. Insurance underwriting income, a non-GAAP measure, is a component of net operating income, which is reconciled to net income in the Results of Operations section above.

The following table summarizes Globe Life's insurance underwriting income by segment for the three months ended June 30, 2026 and 2025:

Insurance Underwriting Income

Quarter Ended

June 30, 2026

% of

Premium

June 30, 2025

% of

Premium

%

Chg.

Insurance underwriting margins:

Life

$       359,350

42

$       340,074

41

6

Health

99,285

23

98,057

26

1

458,635

438,131

5

Annuity and other income

3,100

2,092

Administrative expenses

(91,446)

(86,047)

Insurance underwriting income

$       370,289

$       354,176

5

Per share

$             4.69

$             4.28

10

The ratio of administrative expenses to premium was 7.0%, compared with 7.1% for the year-ago quarter. 

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

LIFE INSURANCE RESULTS BY DISTRIBUTION CHANNEL 

Our distribution channels consist of the following exclusive divisions: American Income Life Division (American Income), Liberty National Division (Liberty National), Family Heritage Division (Family Heritage), Direct to Consumer Division (Direct to Consumer); and an independent agency, United American Division (United American).

Total premium, underwriting margins, first-year collected premium and net sales by all distribution channels are shown at https://investors.globelifeinsurance.com at "Financial Reports and Other Financial Information."

Life Underwriting Margin

Quarter Ended

June 30,

2026

2025

Amount

% of Premium

Amount

% of Premium

% Chg.

American Income

$    213,604

46

$    204,533

46

4

Direct to Consumer

75,876

31

68,959

28

10

Liberty National

36,652

36

33,446

34

10

Other

33,218

67

33,136

66

—

Total

$    359,350

42

$    340,074

41

6

Life Premium

Quarter Ended

June 30,

2026

2025

%

Chg.

American Income

$    466,334

$    445,511

5

Direct to Consumer

244,220

246,223

(1)

Liberty National

100,516

97,263

3

Other

49,697

50,547

(2)

Total

$    860,767

$    839,544

3

Life Net Sales(1)

Quarter Ended

June 30,

2026

2025

%

Chg.

American Income

$      94,733

$      96,227

(2)

Direct to Consumer

26,578

31,096

(15)

Liberty National

26,131

24,615

6

Other

2,165

2,947

Total

$    149,607

$    154,885

(3)

(1)

Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

HEALTH INSURANCE RESULTS BY DISTRIBUTION CHANNEL

Health Underwriting Margin

Quarter Ended

June 30,

2026

2025

Amount

% of Premium

Amount

% of Premium

% Chg.

United American

$      10,914

5

$      12,402

8

(12)

Family Heritage

45,087

36

40,927

35

10

Liberty National

23,145

49

24,372

51

(5)

American Income

18,221

59

19,325

62

(6)

Direct to Consumer

1,918

9

1,031

5

Total

$      99,285

23

$      98,057

26

1

Health Premium

Quarter Ended

June 30,

2026

2025

%

Chg.

United American

$    211,416

$    163,978

29

Family Heritage

126,273

115,856

9

Liberty National

47,403

47,631

—

American Income

30,805

31,422

(2)

Direct to Consumer

20,958

19,212

9

Total

$    436,855

$    378,099

16

Health Net Sales(1)

Quarter Ended

June 30,

2026

2025

%

Chg.

United American

$      27,894

$      25,454

10

Family Heritage

30,725

29,561

4

Liberty National

6,991

8,182

(15)

American Income

4,093

4,749

(14)

Direct to Consumer

696

786

(11)

Total

$      70,399

$      68,732

2

(1)

Net sales is calculated as annualized premium issued, net of cancellations in the first thirty days after issue, except in the case of Direct to Consumer, where net sales is annualized premium issued at the time the first full premium is paid after any introductory offer period (typically 1 month) has expired. Management considers net sales to be a better indicator of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

PRODUCING EXCLUSIVE AGENT COUNT RESULTS BY DISTRIBUTION CHANNEL

Quarterly Average

Producing Agent Count(1)

Quarter Ended

Quarter Ended

June 30,

March 31,

2026

2025

% Chg.

2026

American Income

11,391

12,241

(7)

11,064

Liberty National

4,194

3,882

8

4,031

Family Heritage

1,608

1,498

7

1,561

(1)

The quarterly average producing agent count is based on the actual count at the beginning and end of each week during the period.

INVESTMENTS

Management uses excess investment income as the measure to evaluate the performance of the investment segment. It is defined as net investment income less the required interest attributable to policy liabilities. We also view excess investment income per diluted common share as an important and useful measure to evaluate performance of the investment segment, since it takes into consideration our stock repurchase program.

The following table summarizes Globe Life's investment income, excess investment income, and excess investment income per diluted common share.

Excess Investment Income

Quarter Ended

June 30,

2026

2025

%

Chg.

Net investment income

$    293,820

$    282,169

4

Required interest on policy liabilities(1)

(255,505)

(247,341)

3

Excess investment income

$      38,315

$      34,828

10

Per share

$          0.49

$          0.42

17

(1)

Interest on policy liabilities, at original discount rates, is a component of total policyholder benefits, a GAAP measure.

Net investment income increased 4% and average invested assets increased 2%. Required interest on policy liabilities increased 3% and average policy liabilities increased 4%.

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

The composition of the investment portfolio at book value at June 30, 2026 is as follows:

Investment Portfolio

As of

June 30, 2026

Amount

% of Total

Fixed maturities at fair value(1)

$   17,940,189

86

Mortgage loans

425,513

2

Policy loans

758,676

4

Other long-term investments(2)

1,466,858

7

Short-term investments

198,327

1

Total

$   20,789,563

(1)

As of June 30, 2026, fixed maturities at amortized cost were $19.3 billion, net of $3.3 million of allowance for credit losses.

(2)

Includes $1.10 billion of investments accounted for under the fair value option which have a cost of $1.08 billion as of June 30, 2026.

Fixed maturities at amortized cost, net of allowance for credit losses, by asset class as of June 30, 2026 are as follows:

Fixed Maturity Portfolio by Sector

As of

June 30, 2026

Investment
Grade

Below
Investment
Grade

Total
Amortized
Cost, net

Corporate bonds

$  14,797,965

$      470,927

$  15,268,892

Municipals

3,423,079

1,959

3,425,038

Government, agencies, and GSEs(1)

464,427

—

464,427

Other asset-backed securities

102,711

42,930

145,641

Total

$  18,788,182

$      515,816

$  19,303,998

(1)

Government-Sponsored Enterprises

Below are fixed maturities available for sale by amortized cost, allowance for credit losses, and fair value at June 30, 2026 and the corresponding amounts of net unrealized gains and losses recognized in accumulated other comprehensive income (loss).

As of

Amortized

Cost

Allowance for
Credit Losses

Net Unrealized
Gains (Losses)

Fair

 Value

June 30, 2026

$          19,307,295

$         (3,297)

$    (1,363,809)

$    17,940,189

At amortized cost, net of allowance for credit losses, and at fair value, 97% of fixed maturities were rated "investment grade." The fixed maturity portfolio earned an annual taxable equivalent effective yield of 5.30% during the second quarter of 2026, compared with 5.29% in the year-ago quarter.

Globe Life is not a party to any credit default swaps and does not participate in securities lending.

GLOBE LIFE INC.
Earnings Release—Q2 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)

Comparable information for acquisitions of fixed maturity and other investments is as follows:

Fixed Maturity Acquisitions

Quarter Ended

June 30,

2026

2025

Amount

$    399,143

$    263,252

Average annual effective yield

6.3 %

6.4 %

Average rating

A

A

Average life (in years) to:

Next call

32.0

31.2

Maturity

36.1

33.8

Other Investment Acquisitions

Quarter Ended

June 30,

2026

2025

Limited partnerships

$       63,728

$       36,985

Mortgage loans

25,179

31,215

Common stock

2,340

1,342

Company owned life insurance

—

—

Total

$       91,247

$       69,542

SHARE REPURCHASES:

During the quarter, the Company repurchased 1.1 million shares of Globe Life Inc. common stock at a total cost of $175 million and an average share price of $154.28.

LIQUIDITY/CAPITAL:

Globe Life's operations consist primarily of writing basic protection life and supplemental health insurance policies which generate strong and stable cash flows. These cash flows are not impacted by volatile equity markets. Liquidity at the Parent Company is sufficient to meet additional capital needs of the insurance companies.

NON-GAAP MEASURES:

In this news release, Globe Life includes non-GAAP measures to enhance investors' understanding of management's view of the business. The non-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. Globe Life's definitions of non-GAAP measures may differ from other companies' definitions. More detailed financial information, including various GAAP and non-GAAP measurements, is located at https://investors.globelifeinsurance.com on the Investors page under "Financial Reports and Other Financial Information."

CAUTION REGARDING FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements within the meaning of the federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Whether or not actual results differ materially from forward-looking statements may depend on numerous foreseeable and unforeseeable events or developments, which may be national in scope, related to the insurance industry generally, or applicable to the Company specifically. Such events or developments could include, but are not necessarily limited to:

1) Economic and other conditions, including the impact of inflation, immigration, geopolitical events, escalating tariff and non-tariff trade measures imposed by the U.S. and other countries, and other governmental actions on the U.S. economy and/or U.S. consumer confidence, leading to unexpected changes in lapse rates and/or sales of our policies, as well as levels of mortality, morbidity, and utilization of health care services that differ from Globe Life's assumptions;

2) Regulatory developments, including changes in accounting standards or governmental regulations (particularly those impacting taxes and changes to the Federal Medicare program that would affect Medicare Supplement);

3) Market trends in the senior-aged health care industry that provide alternatives to traditional Medicare (such as Health Maintenance Organizations and other managed care or private plans) and that could affect the sales of traditional Medicare Supplement insurance;

4) Ratings changes with respect to our financial strength and credit ratings and potential adverse impacts to liquidity;

5) Interest rate changes that affect product sales, financing costs, and/or investment yields;

6) General economic, industry sector or individual debt issuers' financial conditions (including developments and volatility arising from geopolitical events, particularly in certain industries that may compromise part of our investment portfolio) that may affect the current market value of securities we own, or that may impair an issuer's ability to make principal and/or interest payments due on those securities;

7) Changes in the competitiveness of the Company's products and pricing;

8) Litigation results and regulatory actions;

9) Levels of administrative and operational efficiencies that differ from our assumptions (including any reduction in efficiencies resulting from increased costs arising from the impact of higher than anticipated inflation);

10) The ability to obtain timely and appropriate premium rate increases for health insurance policies from our regulators;

11) The ability of our subsidiaries to pay dividends to the Parent Company and to receive required regulatory approvals on such amounts;

12) The customer response to new products and marketing initiatives;

13) Reported amounts in the consolidated financial statements which are based on management estimates and judgments which may differ from the actual amounts ultimately realized;

14) Compromise by a malicious actor or other event that causes a loss of secure data from, or inaccessibility to, our computer and other information technology systems;

15) The Company's ability to attract and retain agents;

16) The severity, magnitude, and impact of natural or man-made catastrophic events, including but not limited to pandemics, tornadoes, hurricanes, earthquakes, war and terrorism, on our operations and personnel, commercial activity and demand for our products; and

17) Globe Life's ability to access the commercial paper and debt markets, particularly if such markets become unpredictable or unstable for a certain period.

Readers are also directed to consider other risks and uncertainties described in other documents on file with the Securities and Exchange Commission, including those described in the "Risk Factors" section of our most recent Annual Report on Form 10-K. Globe Life specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.

EARNINGS RELEASE CONFERENCE CALL WEBCAST:

Globe Life will provide a live audio webcast of its second quarter 2026 earnings release conference call with financial analysts at 11:00 am (Eastern) tomorrow, July 23, 2026. Access to the live webcast and replay will be available at https://investors.globelifeinsurance.com on the Calls and Meetings page, at the Conference Calls on the Web icon. Immediately following this press release, supplemental financial reports will be available before the conference call on the Investors page menu of the Globe Life website at "Financial Reports."  

APPENDIX

GLOBE LIFE INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Revenue:

Life premium

$      860,767

$      839,544

$   1,713,972

$   1,669,407

Health premium

436,855

378,099

853,763

747,890

Total premium

1,297,622

1,217,643

2,567,735

2,417,297

Net investment income

293,820

282,169

583,644

562,783

Realized gains (losses)

7,138

(18,574)

5,660

(18,489)

Other income

1,150

49

2,310

118

Total revenue

1,599,730

1,481,287

3,159,349

2,961,709

Benefits and expenses:

Life policyholder benefits(1)

513,959

519,355

1,032,809

1,029,111

Health policyholder benefits(2)

277,012

229,924

540,746

463,853

Other policyholder benefits

7,280

6,719

14,280

13,799

Total policyholder benefits

798,251

755,998

1,587,835

1,506,763

Amortization of deferred acquisition costs

120,537

111,401

238,819

216,916

Commissions, premium taxes, and non-deferred acquisition costs

173,754

157,411

343,640

321,734

Other operating expense

116,251

108,293

229,986

217,039

Interest expense

36,050

34,885

70,050

69,877

Total benefits and expenses

1,244,843

1,167,988

2,470,330

2,332,329

Income before income taxes

354,887

313,299

689,019

629,380

Income tax benefit (expense)

(67,140)

(60,550)

(130,746)

(122,068)

Net income

$      287,747

$      252,749

$     558,273

$     507,312

Basic net income per common share

$            3.71

$          3.09

$          7.16

$          6.13

Diluted net income per common share

$            3.65

$          3.05

$          7.04

$          6.07

(1)

Net of total remeasurement gain of $23.5 million before tax for the three months ended June 30, 2026 and a total remeasurement gain of $16.7 million before tax for the same period in 2025. Net of total remeasurement  gain of $42.4 million for the six months ended June 30, 2026, and a total remeasurement gain of $25.3 million for the same period in 2025.

(2)

Net of total remeasurement gain of $1.3 million before tax for the three months ended June 30, 2026 and a total remeasurement gain of $3.9 million before tax for the same period in 2025. Net of a total remeasurement gain of $7.3 million for the six months ended June 30, 2026, and a total remeasurement gain of $4.3 million for the same period in 2025.

SOURCE Globe Life Inc.

Wall Street analysts forecast that Globe Life (GL - Free Report) will report quarterly earnings of $3.67 per share in its upcoming release, pointing to a year-over-year increase of 12.2%. It is anticipated that revenues will amount to $1.59 billion, exhibiting an increase of 6% compared to the year-ago quarter.

The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

That said, let's delve into the average estimates of some Globe Life metrics that Wall Street analysts commonly model and monitor.

It is projected by analysts that the 'Revenue- Total premium' will reach $1.30 billion. The estimate suggests a change of +6.5% year over year.

The combined assessment of analysts suggests that 'Revenue- Net investment income' will likely reach $292.12 million. The estimate suggests a change of +3.5% year over year.

Based on the collective assessment of analysts, 'Life Underwriting Margin- Liberty National' should arrive at $37.29 million. The estimate suggests a change of +11.5% year over year.

Analysts' assessment points toward 'Life Underwriting Margin- Other' reaching $32.95 million. The estimate indicates a change of -0.6% from the prior-year quarter.

Analysts predict that the 'Life Underwriting Margin- Direct to Consumer' will reach $72.89 million. The estimate suggests a change of +5.7% year over year.

Analysts forecast 'Revenue- Health premium- Family Heritage' to reach $126.62 million. The estimate indicates a year-over-year change of +9.3%.

According to the collective judgment of analysts, 'Life Underwriting Margin- American Income' should come in at $215.86 million. The estimate points to a change of +5.5% from the year-ago quarter.

The consensus among analysts is that 'Revenue- Health premium- American Income' will reach $31.93 million. The estimate indicates a year-over-year change of +1.6%.

The average prediction of analysts places 'Revenue- Health premium- Liberty National' at $48.26 million. The estimate points to a change of +1.3% from the year-ago quarter.

The collective assessment of analysts points to an estimated 'Revenue- Health Premium- United American' of $205.69 million. The estimate points to a change of +25.4% from the year-ago quarter.

Analysts expect 'Revenue- Health premium- Direct to Consumer' to come in at $22.01 million. The estimate points to a change of +14.6% from the year-ago quarter.

The consensus estimate for 'Revenue- Life premium- Other agencies' stands at $50.15 million. The estimate indicates a change of -0.8% from the prior-year quarter.

View all Key Company Metrics for Globe Life here>>>

Over the past month, Globe Life shares have recorded returns of +7.1% versus the Zacks S&P 500 composite's -0.6% change. Based on its Zacks Rank #3 (Hold), GL will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .