Net sales increased to $840 million, reflecting effective marketing and sales initiatives. This growth contributes to overall revenue and profitability.

An increase in the number of active agents directly correlates with increased sales volume. This indicates successful agent recruitment and retention strategies.

Direct to Consumer (DTC) net sales declined 9% due to management's focus on cost efficiency in direct mail and insert media marketing. While sales declined, the focus shifted to improving underwriting margin, indicating a strategic adjustment.

The company continues to see positive signs in its core operations, including sales and premium growth, and continues to achieve an operating ROE (excluding accumulated other comprehensive income) generally in the mid-teens.

The life insurance segment underwriting margin increased $160 million compared with 2023, primarily due to increased premiums and favorable policy obligations as a result of assumption updates.

Insurance administrative expenses increased to 7.3% as a percent of premium compared to 6.8% in 2023, driven by higher IT costs, legal costs, and employee costs. This increase partially offsets gains in other areas.

The company has been the target of short seller reports and faces securities class action litigation, requiring significant resources to defend against unsubstantiated claims and potentially damaging its reputation.

The EEOC has determined that sales agents affiliated with State General Agent Simon Arias were employees, not independent contractors, of Globe Life Inc. and/or AIL. A future adverse judgment in connection with any such civil litigation described above could result in substantial damages.

The company acknowledges the risk of cyberattacks and the need to maintain effective information systems. Failure to protect policyholder information could damage reputation and lead to financial losses.

The company acknowledges competition from other life and health insurance carriers through policyholder service, price, product design, and sales efforts. While there are insurance companies competing with Globe Life, no individual company dominates any of Globe Life's life or health insurance markets.

In addition to the products of other health insurance carriers, health maintenance organizations, preferred provider organizations, and other health care-related institutions which provide medical benefits based on contractual agreements.

This allows Globe Life to have competitive rates while maintaining higher underwriting margins.

These expenses were 7.3% as a percent of premium during 2024 compared to 6.8% in 2023.

This allows Globe Life to have competitive rates while maintaining higher underwriting margins.

This is whether due to physical disruptions, such as fire, natural disaster, pandemic or power outage, or due to cybersecurity incidents, ransomware or other impacts to vendors, including labor strikes, political unrest and terrorist attacks.

This requires us to commit significant resources and effective planning and execution. This modernization includes the responsible and secure use of emerging technologies like artificial intelligence.

We find this flexibility to be attractive to new recruits as well as a driver of sustainability for our agency force.

As the Division continues to gain momentum in its sales and recruiting initiatives, as well as advances in its technology and CRM platform, the Division anticipates continued growth in recruiting activity, average producing agent count and net sales.

The company repurchased 10.1 million shares at a total cost of $946 million, reflecting a commitment to returning capital to shareholders when shares are undervalued.

Globe Life has continually increased the quarterly dividend on its common shares over the past three years, indicating a consistent focus on shareholder returns.

The earned yield on the Company's commercial mortgage loans for the year ended December 31, 2024 was 8.04%. The earned yield on limited partnership investments for the year ended December 31, 2024 was 8.42%.

Environmental responsibility and sustainability are key components of our overall corporate responsibility efforts. We strive to reduce our impact on the environment by placing a company-wide emphasis on recycling and reducing waste at our corporate facilities, focusing on efforts to reduce the use of paper and water.

We are committed to maintaining a diverse workforce that reflects the communities in which we work. In addition, to enable the Company to appropriately respond to related challenges and opportunities, the Company has in place a Sustainability Committee, and the Board and its committees regularly engage with senior management on relevant and related issues.

In 2024, we provided financial support of more than $7 million to organizations within that focus, including charities that support underserved communities, provide scholarships to youth, and advance equity and diversity efforts.

Economic and other conditions, including the continued impact of inflation, geopolitical events, and the recent pandemic on the U.S. economy, 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.

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).

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.