Life premium increased to $804.3 million, up from $772.6 million in Q1 2023. This growth is largely attributed to the American Income Life Division, which continues to be a key driver of premium growth.

Health premium increased to $341.0 million, up from $322.5 million in Q1 2023. This growth is driven by the demand for supplemental health insurance products.

The company effectively managed expenses, contributing to the increase in net income. This indicates strong operational efficiency and effective cost control measures.

The company states that its businesses are heavily regulated and changes in regulation or regulatory scrutiny may have a material adverse impact on its business, financial condition or results of operations.

The company states that misconduct of its independent sales agents could result in violations of law, claims against the company, and sanctions, monetary liabilities, restrictions on or loss of the operation of its business or reputational harm.

The company states that it has become subject to, and may in the future be subject to, short selling strategies driving down the market price of its common stock.

The company continues to emphasize life insurance sales relative to health due to life's superior long-term profitability and its greater contribution to excess investment income.

Insurance administrative expenses increased $6.5 million primarily due to higher information technology costs, legal costs and salaries. Insurance administrative expenses as a percent of premium were 7.0% for the three months ended March 31, 2024 compared to 6.7% for the same period in 2023.

The company repurchased 128 thousand shares for $15.6 million during the quarter, a lower amount than in previous periods, indicating a more conservative approach to capital allocation.

On April 25, 2024, the Board of Directors authorized the repurchase of up to $1.3 billion for the two-year period ended December 31, 2025.