Globe Life Inc. is an insurance holding company that markets primarily individual life and supplemental health insurance to lower-middle to middle-income households in the United States. The company's core business model revolves around various distribution channels, including direct-to-consumer, exclusive agents, and independent agents. Globe Life's competitive advantages include its ability to operate at lower policy acquisition and administrative expense levels than peer companies, allowing for competitive rates while maintaining higher underwriting margins. The company has a nationwide presence, with key markets in the U.S., Canada, and New Zealand.

The competitive landscape includes other insurance carriers, health maintenance organizations, and preferred provider organizations.

• Employees: 3,636 (as of December 31, 2023)
• Geographic Footprint: Primarily in the United States, with some operations in Canada and New Zealand.
• Number of locations/facilities: Owns and leases buildings across the U.S., with main campuses in McKinney, Texas, Waco, Texas, and Oklahoma City, Oklahoma.
• Revenue: $4.46 billion (FY2023)
• Market Capitalization: $10.4 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Globe Life And Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, Family Heritage Life Insurance Company of America, and United American Insurance Company.
• Year Founded: 1979
• Headquarters Location: McKinney, TX

• CEO: J. Matthew Darden and Frank M. Svoboda (Co-Chairmen and Chief Executive Officers)
• CFO: Thomas P. Kalmbach (Executive Vice President and Chief Financial Officer)
• Other Key Executives: M. Shane Henrie (Corporate Senior Vice President and Chief Accounting Officer)

The Co-Chairmen and CEO, CRO, CIO, and CISO have extensive experience in risk management, information technology, and cybersecurity. The CISO holds a master's degree in cybersecurity and has over a decade of experience in cybersecurity.

• Annual Revenue: $4.46 billion (FY2023)
• Net Income: $971 million (FY2023)
• Market Cap: $10.4 billion (as of June 30, 2023)
• Total Assets: $28.1 billion (as of December 31, 2023)
• Number of Employees: 3,636 (as of December 31, 2023)
• Key Financial Highlights: Net income increased 9% year-over-year, and total premium increased 3% year-over-year. Book value per share increased 18% year-over-year.

Globe Life offers a variety of nonparticipating ordinary life insurance products, including traditional whole life, term life, and other life insurance. The company also offers supplemental health insurance products, including accident, cancer, critical illness, heart, and intensive care products. Medicare Supplement plans are also offered. Annuity products include single-premium and flexible-premium deferred annuities, though these comprise less than 1% of premium.

• Life Insurance: Traditional whole life, term life, and other life insurance.
• Supplemental Health Insurance: Accident, cancer, critical illness, heart, and intensive care products.
• Medicare Supplement: Plans that pay deductibles and co-payments not paid by Medicare.
• Annuities: Single-premium and flexible-premium deferred annuities.

Globe Life's operations are viewed by segments, which are the insurance product lines of life, supplemental health, and annuities, and the investment segment that supports the product lines. The insurance product line segments involve the marketing, underwriting, and administration of policies. Each product line is further segmented by the various distribution channels that market the insurance policies. The investment segment involves the management of capital resources.

• Life Insurance: 70% of total premium and 75% of the total underwriting margin in 2023.
• Health Insurance: 30% of total premium and 24% of total underwriting margin in 2023.
• Annuities: Less than 1% of premium.

Globe Life's current strategic priorities include developing and maintaining various distribution channels, recruiting and motivating skilled insurance personnel, and developing new methods of reaching consumers. The company aims to realize cost efficiencies and generate attractive value propositions in its Direct to Consumer Division. The company also focuses on maintaining a diverse workforce and is committed to environmental responsibility and sustainability. Globe Life also focuses on investing in technology, including CRM tools and virtual sales platforms.

Key strategic initiatives include: expanding agency presence in less-penetrated areas, improving agent productivity and training, and implementing new sales technologies. The company is also focused on innovation and is continually introducing new initiatives to increase response rates and create a seamless customer experience.

Globe Life operates within the insurance industry, competing with other insurance carriers through policyholder service, price, product design, and sales efforts. No individual company dominates any of Globe Life's life or health insurance markets. The company's health insurance products also compete with health maintenance organizations and preferred provider organizations.

• Primary Industry: Insurance
• Market Position: No individual company dominates any of Globe Life's life or health insurance markets.
• Key Competitors: Other insurance carriers, health maintenance organizations, and preferred provider organizations.
• Market Trends: The market is influenced by economic conditions, regulatory changes, and market trends in the senior-aged health care industry.

• Business and Operational Risks: The development and maintenance of various distribution channels are critical to growth. The company depends on its ability to recruit, hire, and motivate skilled insurance personnel. A failure to develop new methods of reaching consumers or provide attractive career opportunities could impede growth.
• Market Risks: The company is at risk if its niche markets diminish. Deterioration of relationships with labor unions or affinity groups, or changes in public receptivity to Direct to Consumer marketing could negatively affect business.
• Legal and Tax Risks: Actual or alleged misclassification of independent contractors could result in adverse legal, tax, or financial consequences.
• Operational Risks: The use of third-party vendors makes the company susceptible to operational risks that could lower revenues, increase costs, reduce profits, disrupt business, or damage the company's reputation.
• Financial and Strategic Risks: Investments are subject to market and credit risks, and significant downgrades or defaults could result in lower net investment income and increased realized and unrealized investment losses. Changes in interest rates could negatively affect income.