STOCK TITAN
  1. Home
  2. Sec-filings
  3. GL
  4. [8-K] GLOBE LIFE INC. Reports Material Event

Globe Life (NYSE: GL) lifts Q1 2026 EPS, boosts full-year earnings guidance

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Globe Life Inc. reported solid first quarter 2026 growth, with net income of $3.39 per diluted share, up from $3.01 a year earlier, and net operating income of $3.43 per diluted share, up from $3.07. Total premium revenue rose to $1.27 billion, a 6% increase, driven by 3% growth in life premium and 13% growth in health premium.

Return on equity was strong: net income ROE reached 17.9%, while net operating income ROE excluding AOCI was 14.0%. Book value per share was $77.03, up 19%, and $98.56 excluding AOCI, up 12%. Life net sales increased 6% and health net sales 58%, with notable gains in the United American and Family Heritage divisions.

The company repurchased 1.4 million shares for $203 million at an average price of $141.24 and raised full-year 2026 earnings guidance to a range of $15.40–$15.90 per share, an increase of $0.35 at the midpoint.

Positive

  • None.

Negative

  • None.
Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income per diluted share $3.39 per share Quarter ended March 31, 2026 vs $3.01 in 2025
Net operating income per diluted share $3.43 per share Quarter ended March 31, 2026 vs $3.07 in 2025
Total premium revenue $1.27 billion Quarter ended March 31, 2026; up 6% year over year
Net income ROE 17.9% Three months ended March 31, 2026
Book value per share $77.03 As of March 31, 2026; 19% higher than year-ago quarter
Shares repurchased 1.4 million shares for $203 million Quarter ended March 31, 2026; average price $141.24
Full-year 2026 EPS guidance $15.40–$15.90 per share Range increased by $0.35 at the midpoint
Total revenue $1.56 billion Quarter ended March 31, 2026 vs $1.48 billion in 2025
net operating income financial
"Net operating income was $3.43 per diluted common share, compared with $3.07 per diluted common share for the year-ago quarter."
Net operating income is the profit a business makes from its core operations after subtracting the costs directly related to running those operations, but before accounting for taxes, interest, or other expenses. It shows how efficiently a company is generating income from its main activities. Investors use this figure to assess the company's operational performance and profitability.
return on equity financial
"Net income as an ROE was 17.9% for the three months ended March 31, 2026."
Return on equity shows how effectively a company uses its shareholders' money to generate profit. It is calculated by dividing the company's net profit by its shareholders' equity, indicating how much profit is earned for each dollar invested by owners. Higher return on equity suggests the company is good at turning investments into earnings, which can be an important factor for investors assessing its profitability and efficiency.
accumulated other comprehensive income financial
"Net operating income as an ROE excluding accumulated other comprehensive income (AOCI) was 14.0% for the three months ended March 31, 2026."
Accumulated other comprehensive income is a running total on a company’s balance sheet that records certain gains and losses not included in reported profit, such as unrealized gains or losses on some investments, currency translation differences, and pension plan adjustments. Think of it like items in a shopping cart you haven’t paid for yet: it doesn’t affect current profit but changes the company’s overall equity and signals potential future swings in value that investors should watch.
insurance underwriting income financial
"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."
Income from an insurer’s core business of writing policies, calculated as the premiums collected minus the claims paid and the direct costs of providing coverage. Think of it like a shop’s profit from selling goods before counting returns or outside income: it shows whether the company is charging enough and managing risk well, so investors use it to judge the health and sustainability of an insurer’s primary operations.
excess investment income financial
"Management uses excess investment income as the measure to evaluate the performance of the investment segment."
non-GAAP financial
"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."
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
Total revenue $1,559,619 +5.3% vs Q1 2025
Net income $270,526 +6.3% vs Q1 2025
Diluted EPS (net income) $3.39 +13% vs Q1 2025
Diluted EPS (net operating income) $3.43 +12% vs Q1 2025
Total premium $1,270,113 +6% vs Q1 2025
Guidance

Full-year 2026 earnings guidance increased to $15.40–$15.90 per diluted share, an increase of $0.35 at the midpoint.

Understanding 8-K Material Events →
0000320335falseChicago Stock Exchange, Inc.00003203352026-04-222026-04-220000320335us-gaap:CommonStockMemberexch:XNYS2026-04-222026-04-220000320335us-gaap:CommonStockMemberexch:XCHI2026-04-222026-04-220000320335us-gaap:SubordinatedDebtMember2026-04-222026-04-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 22, 2026
GLOBE LIFE INC.
(Exact name of registrant as specified in its charter)
Delaware 001-0805263-0780404
(State or other jurisdiction
of incorporation)
 
(Commission
File No.)
(I.R.S. Employer
ID No.)
7677 Henneman Way, McKinney, Texas 75070
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (972) 569-4000

(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a.-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $1.00 par value per shareGL
New York Stock Exchange
Common Stock, $1.00 par value per shareGLNYSE Texas, Inc.
4.250% Junior Subordinated DebenturesGL PRDNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐



Item 2.02    Results of Operations and Financial Condition.
On April 22, 2026, Globe Life Inc. issued a press release announcing its first quarter 2026 financial results. A copy of the press release is incorporated herein by reference and is provided as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information included or incorporated in this report (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be set forth by specific reference in such filing.
Item 9.01    Financial Statement and Exhibits.
(a)Financial Statements of businesses or funds acquired.
Not applicable.
(b)Pro forma financial information.
Not applicable.
(c)Shell company transactions.
Not applicable
(d)Exhibits.
(99.1) Globe Life Inc. Q1 FY 2026 Press Release dated April 22, 2026
(104) Cover Page Interactive Data File (embedded within the Inline XBRL document)





SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Date: April 22, 2026
 GLOBE LIFE INC.
 /s/ Christopher T. Moore
 Christopher T. Moore

Corporate Senior Vice President,
Associate Counsel and Corporate Secretary



globelifeheadera.gif

GLOBE LIFE INC. REPORTS
First Quarter 2026 Results


McKinney, TX, April 22, 2026—Globe Life Inc. (NYSE: GL) reported today that for the quarter ended March 31, 2026, net income was $3.39 per diluted common share, compared with $3.01 per diluted common share for the year-ago quarter. Net operating income was $3.43 per diluted common share, compared with $3.07 per diluted common share for the year-ago quarter. The Company also increased full-year 2026 earnings guidance to a range of $15.40 to $15.90, an increase of $0.35 at the midpoint.

HIGHLIGHTS:
l
Net income as an ROE was 17.9% for the three months ended March 31, 2026. Book value per share was $77.03, an increase of 19% over the year-ago quarter.
l
Net operating income as an ROE excluding accumulated other comprehensive income (AOCI) was 14.0% for the three months ended March 31, 2026. Book value per share excluding AOCI was $98.56, an increase of 12% over the year-ago quarter.
l
Net income per share increased 13% and net operating income per share increased 12% over the year-ago quarter.
lLife net sales grew at each division, resulting in a 6% increase in total life net sales over the year-ago quarter.
l
At the American Income Life Division, life underwriting margin increased 7%, life premium increased 5%, and life net sales increased 3% over the year-ago quarter.
l
At the Liberty National Division, life net sales increased 13% and life underwriting margin increased 11% over the year-ago quarter. Additionally, the average producing agent count increased 9% over the year-ago quarter.
l
At the Family Heritage Division, health net sales increased 22%, health underwriting margin increased 11%, and health premium increased 10% over the year-ago quarter. Additionally, the average producing agent count increased 10% over the year-ago quarter.
l
At the Direct to Consumer Division, life underwriting margin increased 15% and life net sales increased 8% over the year-ago quarter.
l
At the United American Division, health net sales increased from $28 million to approximately $62 million and health underwriting margin increased from approximately $2 million to $5 million over the year-ago quarter. Health premium increased 22% over the year-ago quarter.
l
1.4 million shares of Globe Life Inc. common stock were repurchased during the quarter at a total cost of $203 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.

1
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 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 March 31, 2026 and 2025:
Operating Summary
Per Share
Three Months Ended
March 31,		Three Months Ended
March 31,
20262025%
Chg.		20262025%
Chg.
Insurance underwriting income(2)
$4.42 $3.98 11$352,405 $336,315 5
Excess investment income(2)
0.46 0.42 1036,654 35,870 2
Interest on debt(0.43)(0.41)5(34,000)(34,992)(3)
Parent company expense
(0.04)(0.04)(3,533)(3,050)
Income tax expense(0.85)(0.77)10(67,703)(64,891)4
Stock compensation benefit (expense), net of tax(0.13)(0.12)(10,303)(9,915)
Net operating income 3.43 3.07 12273,520 259,337 5
Reconciling items, net of tax:
Realized gain (loss)
(0.01)— (1,167)67 
Non-operating expenses— — (72)— 
Legal proceedings
(0.02)(0.06)(1,755)(4,841)
Net income(3)
$3.39 $3.01 $270,526 $254,563 
Weighted average diluted shares outstanding 79,741 84,480 
(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.

2
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 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.
Three Months Ended
March 31,
20262025
Net income
$270,526 $254,563 
Net operating income
273,520 259,337 
Net income as an ROE(1)
17.9%19.0%
Net operating income as an ROE (excluding AOCI)(1)
14.0%14.1%
March 31,
20262025
Shareholders' equity$6,084,596 $5,425,416 
Impact of adjustment to exclude AOCI1,700,791 1,970,873 
Shareholders' equity, excluding AOCI$7,785,387 $7,396,289 
Book value per share$77.03 $64.50 
Impact of adjustment to exclude AOCI21.53 23.42 
Book value per share, excluding AOCI$98.56 $87.92 
(1) Calculated using average shareholders' equity for the measurement period.

3
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
INSURANCE OPERATIONS:

Life insurance accounted for 79% of the Company’s insurance underwriting margin for the quarter and 67% of total premium revenue.

Health insurance accounted for 21% of the Company's insurance underwriting margin for the quarter and 33% of total premium revenue.

Net sales of life insurance increased 6% for the quarter, and net health sales increased 58%.

The following table summarizes Globe Life's premium revenue by product type for the three months ended March 31, 2026 and 2025:
Insurance Premium Revenue
Quarter Ended
March 31, 2026March 31, 2025%
Chg.
Life insurance$853,205 $829,863 3
Health insurance416,908 369,791 13
Total$1,270,113 $1,199,654 6

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 March 31, 2026 and 2025:
Insurance Underwriting Income
Quarter Ended
March 31, 2026% of
Premium		March 31, 2025% of
Premium		%
Chg.
Insurance underwriting margins:
Life$349,058 41$337,264 413
Health94,504 2384,721 2312
443,562 421,985 5
Annuity and other income
3,129 1,879 
Administrative expenses(94,286)(87,549)
Insurance underwriting income$352,405 $336,315 5
Per share$4.42 $3.98 11

The ratio of administrative expenses to premium was 7.4%, compared with 7.3% for the year-ago quarter.

4
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 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
March 31,
20262025
Amount% of PremiumAmount% of Premium% Chg.
American Income $209,008 46 $196,169 45 7
Direct to Consumer 73,638 30 64,200 26 15
Liberty National 35,292 35 31,772 33 11
Other 31,120 62 45,123 90 (31)
Total$349,058 41 $337,264 41 3
Life Premium
Quarter Ended
March 31,
20262025%
Chg.
American Income $459,200 $437,866 5
Direct to Consumer 244,223 245,600 (1)
Liberty National 99,885 96,182 4
Other 49,897 50,215 (1)
Total$853,205 $829,863 3
Life Net Sales(1)
Quarter Ended
March 31,
20262025%
Chg.
American Income $101,337 $98,555 3
Direct to Consumer 27,188 25,175 8
Liberty National 25,358 22,469 13
Other 3,488 2,152 62
Total$157,371 $148,351 6
(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 the rate of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.

5
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
HEALTH INSURANCE RESULTS BY DISTRIBUTION CHANNEL
Health Underwriting Margin
Quarter Ended
March 31,
20262025
Amount% of PremiumAmount% of Premium% Chg.
United American $5,281 3 $1,617 1 227
Family Heritage 43,745 36 39,249 35 11
Liberty National 25,670 54 25,982 54 (1)
American Income 18,771 60 19,389 63 (3)
Direct to Consumer1,037 5 (1,516)(8)
Total$94,504 23 $84,721 23 12
Health Premium
Quarter Ended
March 31,
20262025%
Chg.
United American $194,426 $159,848 22
Family Heritage 123,139 112,354 10
Liberty National 47,579 47,922 (1)
American Income 31,119 30,691 1
Direct to Consumer 20,645 18,976 9
Total$416,908 $369,791 13
Health Net Sales(1)
Quarter Ended
March 31,
20262025%
Chg.
United American $61,534 $27,708 122
Family Heritage 32,713 26,816 22
Liberty National 6,968 7,198 (3)
American Income 4,317 4,870 (11)
Direct to Consumer 618 645 (4)
Total$106,150 $67,237 58
(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 the rate of premium growth than annualized premium issued since annualized premium issued is before cancellations, as cancellations do not contribute to premium income.

6
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 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 EndedQuarter Ended
March 31,December 31,
20262025% Chg.2025
American Income11,064 11,510 (4)11,699 
Liberty National 4,031 3,688 9 3,965 
Family Heritage 1,561 1,417 10 1,640 
(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
March 31,
20262025%
Chg.
Net investment income$289,824 $280,614 3
Interest on policy liabilities(1)
(253,170)(244,744)3
Excess investment income$36,654 $35,870 2
Per share$0.46 $0.42 10
(1)Interest on policy liabilities, at original discount rates, is a component of total policyholder benefits, a GAAP measure.

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

7
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
The composition of the investment portfolio at book value at March 31, 2026 is as follows:
Investment Portfolio
As of
March 31, 2026
Amount% of Total
Fixed maturities at fair value(1)
$17,579,376 86
Mortgage loans
461,025 2 
Policy loans749,108 4 
Other long-term investments(2)
1,435,099 7 
Short-term investments183,790 1 
Total$20,408,398 
(1)    As of March 31, 2026, fixed maturities at amortized cost were $19.1 billion, net of $3.3 million of allowance for credit losses.
(2)    Includes $1.07 billion of investments accounted for under the fair value option which have a cost of $1.06 billion as of March 31, 2026.

Fixed maturities at amortized cost, net of allowance for credit losses, by asset class as of March 31, 2026 are as follows:
Fixed Maturity Portfolio by Sector
As of
March 31, 2026
Investment GradeBelow Investment GradeTotal Amortized Cost, net
Corporate bonds$14,672,909 $472,686 $15,145,595 
Municipals3,401,697 1,960 3,403,657 
Government, agencies, and GSEs(1)
465,510 — 465,510 
Other asset-backed securities79,381 35,945 115,326 
Total$18,619,497 $510,591 $19,130,088 
(1) Government-Sponsored Enterprises

Below are fixed maturities available for sale by amortized cost, allowance for credit losses, and fair value at March 31, 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 LossesNet Unrealized Gains (Losses)Fair
 Value
March 31, 2026
$19,133,385 $(3,297)$(1,550,712)$17,579,376 

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 5.32% during the first quarter of 2026, compared with 5.25% in the year-ago quarter.

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


8
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 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
March 31,
20262025
Amount$418,753 $244,845 
Average annual effective yield6.2%6.4%
Average ratingAA-
Average life (in years) to:
Next call40.3 40.7 
Maturity42.1 43.1 

Other Investment Acquisitions
Quarter Ended
March 31,
20262025
Limited partnerships
$11,453 $15,831 
Mortgage loans
58,519 35,621 
Common stock
1,574 502 
Company owned life insurance
75,000 — 
Total$146,546 $51,954 

SHARE REPURCHASE:

During the quarter, the Company repurchased 1.4 million shares of Globe Life Inc. common stock at a total cost of $203 million and an average share price of $141.24.

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."
9
GL Q1 2026 Earnings Release

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) Interest rate changes that affect product sales, financing costs, and/or investment yields;
5) 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;
6) Changes in the competitiveness of the Company's products and pricing;
7) Litigation results;
8) 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);
9) The ability to obtain timely and appropriate premium rate increases for health insurance policies from our regulators;
10) The ability of our subsidiaries to pay dividends to the Parent Company and to receive required regulatory approvals on such amounts;
11) The customer response to new products and marketing initiatives;
12) Reported amounts in the consolidated financial statements which are based on management estimates and judgments which may differ from the actual amounts ultimately realized;
13) 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;
14) The Company's ability to attract and retain agents;
15) 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
16) 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.
10
GL Q1 2026 Earnings Release

EARNINGS RELEASE CONFERENCE CALL WEBCAST:

Globe Life will provide a live audio webcast of its first quarter 2026 earnings release conference call with financial analysts at 11:00 am (Eastern) tomorrow, April 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.”
For additional information contact:
Mike Majors, Executive Vice President - Chief Strategy Officer
Globe Life Inc.
7677 Henneman Way
P.O. Box 8080
McKinney, Texas 75070-8080
Phone: 972-569-3627 or email: investors@globe.life
Website: https://investors.globelifeinsurance.com

11
GL Q1 2026 Earnings Release
GLOBE LIFE INC.
Earnings Release—Q1 2026
(Dollar amounts in thousands, except share and per share data)
(Unaudited)
APPENDIX

GLOBE LIFE INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended
March 31,
 20262025
Revenue:
Life premium$853,205 $829,863 
Health premium416,908 369,791 
Total premium1,270,113 1,199,654 
Net investment income289,824 280,614 
Realized gains (losses)(1,478)85 
Other income1,160 69 
Total revenue1,559,619 1,480,422 
Benefits and expenses:
Life policyholder benefits(1)
518,850 509,756 
Health policyholder benefits(2)
263,734 233,929 
Other policyholder benefits7,000 7,080 
Total policyholder benefits789,584 750,765 
Amortization of deferred acquisition costs118,282 105,515 
Commissions, premium taxes, and non-deferred acquisition costs169,886 164,323 
Other operating expense113,735 108,746 
Interest expense34,000 34,992 
Total benefits and expenses1,225,487 1,164,341 
Income before income taxes334,132 316,081 
Income tax benefit (expense)(63,606)(61,518)
Net income$270,526 $254,563 
Basic net income per common share$3.45 $3.05 
Diluted net income per common share$3.39 $3.01 
(1) Net of total remeasurement gain of $18.9 million for the three months ended March 31, 2026, and a total remeasurement gain of $8.5 million for the same period in 2025.
(2)Net of a total remeasurement gain of $6.0 million for the three months ended March 31, 2026, and a total remeasurement gain of $0.4 million for the same period in 2025.
12
GL Q1 2026 Earnings Release

Source: View Original Filing on SEC EDGAR

FAQ

How did Globe Life (GL) perform financially in Q1 2026?

Globe Life delivered higher earnings in Q1 2026, with net income of $3.39 per diluted share, up from $3.01 a year ago. Total revenue reached $1.56 billion, supported by 6% premium growth and modestly higher net investment income.

What was Globe Life (GL) net operating income in Q1 2026?

Net operating income was $3.43 per diluted share in Q1 2026, compared with $3.07 in the prior-year quarter. On a dollar basis, net operating income was $273.5 million, up from $259.3 million, reflecting stronger underwriting and investment results.

How did Globe Life (GL) premiums change in Q1 2026?

Total insurance premium revenue rose to $1.27 billion in Q1 2026 from $1.20 billion a year earlier. Life premium increased 3% to $853.2 million, while health premium increased 13% to $416.9 million, showing broad-based policy growth.

What earnings guidance did Globe Life (GL) provide for full-year 2026?

Globe Life raised its full-year 2026 earnings guidance to $15.40–$15.90 per diluted share. This range represents an increase of $0.35 at the midpoint versus prior guidance, reflecting management’s improved outlook based on current trends.

How strong were Globe Life (GL) returns on equity in Q1 2026?

Net income as return on equity was 17.9% for the three months ended March 31, 2026. Net operating income ROE excluding accumulated other comprehensive income was 14.0%, highlighting solid profitability on the company’s capital base.

Did Globe Life (GL) repurchase shares in Q1 2026?

Yes. Globe Life repurchased 1.4 million shares of common stock during Q1 2026 for a total of $203 million. The company paid an average price of $141.24 per share, reducing its diluted share count versus the prior-year quarter.

How did Globe Life (GL) segment sales perform in Q1 2026?

Life net sales increased 6% overall, with growth across all divisions, and health net sales rose 58%. United American health net sales more than doubled, while Family Heritage posted double-digit gains in health net sales, underwriting margin, and premium.

Filing Exhibits & Attachments

5 documents

Press Releases

Other Documents