Globe Life Inc. (NYSE: GL), a US life and supplemental-health insurer, published its third-quarter earnings release through the SEC. In its earnings release, the company said: Net operating income was $4.84 per diluted common share, compared with $4.81 per diluted common share for the year-ago quarter. The release also covers book value, premium revenue, results by division, share repurchases, investment-portfolio disclosures and earnings guidance.
Per-Share Earnings, Book Value and Premium Revenue in the Third Quarter
The release gives book value per share. The company said: Book value per share was $85.35, an increase of 23% over the year-ago quarter. For the measure excluding AOCI, it said: Book value per share excluding AOCI was $103.62, an increase of 11% over the year-ago quarter.
On premiums, the release states: Total premium revenue grew 7% over the year-ago quarter. On expenses, it states: The ratio of administrative expenses to premium was 7.3%, same as the year-ago quarter.
On the mix of the business, the release states: Life insurance accounted for 80% of the Company’s insurance underwriting margin. For health, it states: Health insurance accounted for 20% of the Company’s insurance underwriting margin for the quarter and 34% of total premium revenue.
InsuraBeat has separate coverage of a Lincoln reinsurance transaction on guaranteed universal life reserves.
American Income Life, Liberty National and Family Heritage Division Results
The release breaks out results by division. For American Income Life, the company said in the release: At the American Income Life Division, life premium increased 4% and life underwriting margin (1) increased 3% over the year-ago quarter.
For Liberty National, the release states: At the Liberty National Division, life net sales increased 7% and life premium increased 4% over the year-ago quarter. The release continues: Additionally, the average producing agent count increased 9% over the year-ago quarter.
For Family Heritage, the release states: 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.
Share Repurchases, Fixed Maturity Portfolio and Investment Disclosures
On capital return, the company stated: 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.
On credit quality, the release states: At amortized cost, net of allowance for credit losses, and at fair value, 97% of fixed maturities were rated “investment grade.”
InsuraBeat has separate coverage of an F&G filing on alternative investment income.
Guidance Adjusted Over Evry and CMS Claims Items at United American General Agency
In the earnings release, the company set out its full-year guidance change in these words: “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.”
The release also contains a guidance estimate for the year after. The company wrote: “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.”
