GL

Globe Life Inc. GL is benefiting from strong momentum in its health insurance business. Rising healthcare spending, strong Medicare Supplement demand, rate increases and expanding distribution are driving growth and creating a foundation for higher earnings. Health premium revenues increased 16% year over year in the second quarter of 2026. United American's health premiums rose 29%, while Family Heritage's increased 9%. Health insurance accounted for 34% of total premium revenues, up from 31% a year earlier, highlighting its growing contribution to Globe Life's business. Rising healthcare spending could further support demand for supplemental health coverage. The Centers for Medicare & Medicaid Services projects national health expenditures to grow 5.4% annually through 2034. Strong Medicare Supplement sales are supporting Globe Life's health premium growth, while approved rate increases on individual health products are expected to generate approximately $65 million of additional premium. Globe Life's distribution network provides another growth driver. In the second quarter of 2026, Family Heritage's average producing agent count increased 7%, supporting broader customer reach and health sales. However, medical inflation remains a challenge for Accident & Health insurers. Higher medical costs can pressure claims and underwriting margins, although Globe Life's rate increases should help offset some of this pressure. Overall, strong demand, favorable rates and expanding distribution should support Globe Life's health business. The Health Insurance segment is becoming an important contributor to GL's premium growth, underwriting profitability and earnings momentum. Aflac Incorporated's AFL supplemental health business remains a key driver of its growth, with products designed to help customers cover expenses not fully paid by major medical insurance. The company is benefiting from demand for supplemental coverage as healthcare costs rise, while its broad distribution network supports policy sales and premium growth. Net earned premiums increased 2.3% in the second quarter of 2026. CNO Financial Group's CNO health business provides supplemental health and Medicare Supplement products to middle-income Americans. Health collected premiums increased 5.5% year over year to $432 million in the second quarter of 2026. Its health business benefits from demand for products that help customers manage healthcare expenses and financial protection needs. Shares of GL have gained 22.7% in the past year compared with the industry’s growth of 10.9%. Image Source: Zacks Investment Research The stock is undervalued compared with its industry. It is currently trading at a price-to-earnings value multiple of 10.54, lower than the industry average of 13.13X. It has a Value Score of B. Image Source: Zacks Investment Research The Zacks Consensus Estimate for Globe Life’s 2026 earnings per share (EPS) indicates a year-over-year increase of 8.2%. The consensus estimate for revenues is pegged at $6.40 billion, implying a year-over-year improvement of 6.3%. The consensus estimate for 2027 EPS and revenues indicates an increase of 5.1% and 6.1%, respectively, from the corresponding 2026 estimates. The Zacks Consensus Estimate for 2026 earnings moved 0.4% north, while 2027 earnings have moved 0.6% south over the last 30 days. Image Source: Zacks Investment Research GL stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Globe Life Inc. (GL) : Free Stock Analysis Report CNO Financial Group, Inc. (CNO) : Free Stock Analysis Report Aflac Incorporated (AFL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

It has been about a month since the last earnings report for Globe Life (GL). Shares have lost about 0.3% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Globe Life due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Globe Life Inc. before we dive into how investors and analysts have reacted as of late. Globe Life Q2 Earnings Miss Estimates on Escalating ExpensesGlobe Life Inc. reported second-quarter 2026 net operating income of $3.61 per share, which missed the Zacks Consensus Estimate of $3.67 by 1.6%. The bottom line, however, improved 10% year over year, driven by higher insurance underwriting income. The quarter benefited from higher premium revenues, stronger insurance underwriting income, and increased investment income. Higher premium revenues reflected continued strength across the company’s life and health insurance businesses. Total premium revenues increased 7% year over year to $1.30 billion. Life insurance premiums rose 3% to $860.8 million, while health insurance premiums climbed 16% to $436.9 million, supported by strong growth at United American and Family Heritage. Operating revenues increased 8% year over year to $1.60 billion, driven by higher premium income, stronger net investment income and realized investment gains. The top line surpassed the Zacks Consensus Estimate by 0.6%. Insurance underwriting income increased 5% year over year to $370.3 million. Life underwriting income rose 6% to $359.4 million, while health underwriting income edged up 1% to $99.3 million. Net investment income rose 4% year over year to $293.8 million. Excess investment income, a key profitability measure, rose 10% to $38.3 million as higher investment income more than offset increased required interest on policy liabilities.Administrative expenses were up 6.2% year over year to $91.4 million.Total benefits and expenses increased 6.5% year over year to $1.2 billion, primarily due to higher total policyholder benefits, amortization of deferred acquisition costs, commissions, premium taxes and non-deferred acquisition costs, interest expense and other operating expense. Life insurance premium growth was led by the American Income division, where premiums increased 5% year over year to $466.3 million. Liberty National premiums rose 3%, while Direct to Consumer premiums slipped 1%. Overall life net sales declined 3% to $149.6 million as weaker Direct to Consumer sales more than offset Liberty National's gains.Health insurance continued to outperform. United American health premiums surged 29% year over year to $211.4 million, while Family Heritage premiums increased 9%. Total health net sales improved 2% to $70.4 million, supported by double-digit growth at United American despite softer performance at Liberty National and American Income. Book value per share increased 18% year over year to $78.18. Excluding accumulated other comprehensive income (AOCI), book value per share rose 11% to $100.04. Net income return on equity was 18.4% for the first six months of 2026, down 40 basis points year over year. Net operating income return on equity, excluding AOCI, was 14.3%, down 10 basis points year over year. During the reported quarter, Globe Life repurchased 1.1 million shares for $175 million at an average price of $154.28 per share, continuing its shareholder return strategy. Globe Life raised its full-year 2026 net operating income guidance to a range of $15.55-$15.95 per share, suggesting a 10-cent increase at the midpoint from its prior outlook. It turns out, estimates review have trended upward during the past month. Currently, Globe Life has a poor Growth Score of F, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Globe Life has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Globe Life Inc. (GL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Globe Life (GL) is back in focus after its Q2 2026 earnings beat came alongside weaker sales trends and softer underwriting margins, a mix that has kept analyst sentiment cautiously optimistic. See our latest analysis for Globe Life. Globe Life's recent Q2 update and the expanded US$2.5b buyback authorization come after a strong run, with the stock's 90 day share price return of 16.74% and 1 year total shareholder return of 34.73% pointing to momentum that has built over several years. If earnings quality and capital returns are on your radar, it can help to widen the lens and review 20 top founder-led companies After a 34.7% total return over the past year and a fresh US$2.5b buyback authorization, the question around Globe Life is simple: Is the meaningful upside still ahead, or has the recent rerating already done most of the work? Globe Life's most followed narrative pegs fair value at about $190.09 per share, a touch above the recent $181 close, and builds a case around modest growth, capital returns, and interest rate assumptions. Read the complete narrative. Want to see what sits behind that free cash flow story? The narrative leans on measured revenue growth, slightly tighter margins, and a higher future earnings multiple to reach its fair value. Result: Fair Value of $190.09 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Globe Life's reliance on agent driven distribution and its exposure to working and middle income households mean that economic stress or slower digital progress could quickly challenge this undervaluation story. Find out about the key risks to this Globe Life narrative. While the narrative model points to Globe Life trading about 4.8% below a fair value of $190.09, the current P/E of 11.5x sits almost exactly in line with the US Insurance sector at 11.5x and very close to a fair ratio of 11.4x. That leaves a fairly small margin of safety if sentiment turns. For a closer look at what the numbers imply for valuation risk and opportunity, See what the numbers say about this price — find out in our valuation breakdown. Uncertain whether Globe Life's current optimism fully reflects the balance of risks and rewards. Act while the details are fresh in mind and weigh up the 2 key rewards and 1 important warning sign Globe Life offers one angle, but smart portfolios rarely rest on a single stock. Give yourself options and let high quality data do the heavy lifting. Target higher potential upside by reviewing screener containing 18 high quality undiscovered gems that pair solid fundamentals with relatively low market attention. Strengthen your downside protection through the 83 resilient stocks with low risk scores and focus on companies with more resilient risk profiles. Build a core watchlist of quality opportunities using the 50 high quality undervalued stocks and spot stocks where fundamentals and price appear out of sync. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include GL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Manulife Financial Corporation MFC reported second-quarter 2026 core earnings of 79 cents per share, which beat the Zacks Consensus Estimate by 1.3%. The bottom line increased 16% year over year. Revenues of $7.82 billion surpassed the consensus estimate of $7.42 billion by 5.4%.Results benefited from business growth in Asia and Global Wealth and Asset Management, along with a lower expected credit loss charge. Annualized premium equivalent sales increased 21%, while new business contractual service margin and new business value rose 16% and 10%, respectively. Manulife Financial Corp price-consensus-eps-surprise-chart | Manulife Financial Corp Quote Core earnings were C$1.92 billion ($1.38 billion), up 12% year over year. The improvement reflected continued growth in Asia, higher Global WAM earnings and the net positive impact of updates to actuarial methods and assumptions made in 2025.The increase was partly offset by unfavorable insurance experience in Canada and Asia, lower U.S. investment spreads and the effect of the eMPF transition in Hong Kong. Net income attributed to shareholders increased C$321 million to C$2.11 billion, aided by favorable market experience.Core return on equity expanded 130 basis points year over year to 16.3%. The expense efficiency ratio improved 100 basis points year over year to 44.5%, indicating positive operating leverage during the quarter. APE sales advanced 21% year over year to C$2.70 billion ($1.95 billion). Asia remained the largest contributor, with sales rising to C$2.07 billion from C$1.71 billion. Canada APE sales increased 23% year over year to C$426 million ($307.69 million).New business CSM increased 16% year over year to C$1.02 billion ($0.7 billion). This measure represents the expected future profit from new insurance contracts. New business value climbed 10% year over year to C$929 million ($671 million), highlighting broad-based momentum across the insurance portfolio.The CSM balance, net of non-controlling interests, reached C$27.26 billion as of June 30, 2026. Annualized organic CSM growth was 10%, supported by new business contributions, interest accretion and insurance experience. Asia core earnings increased 21% year over year to $616 million. APE sales advanced 21%, new business CSM rose 17%, and new business value improved 13%, led by growth in Hong Kong, Singapore and Japan. Changes in business mix moderated growth in profitability metrics relative to sales.U.S. core earnings jumped 55% year over year to $218 million. Improved claims experience in life insurance and long-term care, along with a lower expected credit loss charge, more than offset weaker investment spreads. APE sales rose 12%, though new business CSM declined 1% because of product mix.Canada core earnings fell 10% year over year to C$379 million ($273.74). Unfavorable claims experience and higher Group Insurance expenses weighed on results, partly offset by actuarial assumption benefits, higher investment spreads and an expected credit loss provision release. Global WAM core earnings increased 9% year over year to C$505 million ($364.75 million). Higher average assets under management and administration and contributions from the Comvest acquisition supported the increase. These benefits were partly offset by the eMPF transition and expenses associated with business growth.Average AUMA rose 15% year over year to C$1.16 trillion. The core EBITDA margin expanded 110 basis points to 31.2%, reflecting improved operating economics.Global WAM generated net inflows of C$0.4 billion. Institutional inflows of C$6.7 billion, including contributions from CQS and Comvest, offset retirement outflows of C$4.9 billion and retail outflows of C$1.4 billion. Manulife ended the quarter with a Life Insurance Capital Adequacy Test ratio of 136%, unchanged from the year-ago period. Its financial leverage ratio declined 140 basis points to 22.2%, remaining below the company’s medium-term target of 25%.Book value per common share increased 10% to C$27.48. Adjusted book value per share rose 15% to C$41.12, including a CSM balance per share of C$13.64.The company returned C$1.4 billion to shareholders during the quarter through C$0.8 billion of common share dividends and C$0.6 billion of share repurchases. It also announced a long-term care reinsurance transaction that is expected to reduce its cumulative long-term care risk by 24% upon closing. Manulife currently has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Voya Financial, Inc. VOYA reported second-quarter 2026 adjusted operating earnings of $1.51 per share, missing the Zacks Consensus Estimate of $1.88 by 19.7%. The bottom line declined 38.6% year over year. Revenues of $269 million missed the consensus mark by 4.6%. After-tax adjusted operating earnings fell to $140 million from $240 million in the year-ago quarter. Results included about $40 million of pre-tax severance expenses and a $15 million pre-tax loss tied to alternative investment performance. Consolidated revenues declined 4.3% year over year to $1.90 billion. Fee income increased 7.5% to $620 million, but net investment income fell 8% to $537 million. Premiums remained nearly flat at $716 million. Total benefits and expenses rose 3.8% to $1.86 billion, including a 4.8% increase in operating expenses.Lincoln National Corporation LNC reported second-quarter 2026 adjusted earnings per share of $2.24, which surpassed the Zacks Consensus Estimate by 12%. The bottom line declined 5.1% year over year. Adjusted operating revenues grew 4.2% year over year to $4.93 billion, surpassing the Zacks Consensus Estimate by 1.4%.LNC's estimated RBC ratio remained above 420% at the end of the reported quarter. Insurance premiums inched up 2% year over year to $1.7 billion, marginally missing the Zacks Consensus Estimate by 0.01%. Fee income was $1.4 billion, which improved 4.3% year over year but missed the consensus mark by 0.4%. Net investment income advanced 10.5% year over year to $1.6 billion and beat the consensus mark by 10.8%. Meanwhile, other revenues of $202 million rose 9.8% year over year in the quarter under review.Globe Life Inc. GL reported second-quarter 2026 net operating income of $3.61 per share, which missed the Zacks Consensus Estimate of $3.67 by 1.6%. The bottom line, however, improved 10% year over year, driven by higher insurance underwriting income. Operating revenues increased 8% year over year to $1.60 billion. The top line surpassed the Zacks Consensus Estimate by 0.6%.Total premium revenues increased 7% year over year to $1.30 billion. Life insurance premiums rose 3% to $860.8 million, while health insurance premiums climbed 16% to $436.9 million, supported by strong growth at United American and Family Heritage. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Manulife Financial Corp (MFC) : Free Stock Analysis Report Lincoln National Corporation (LNC) : Free Stock Analysis Report Voya Financial, Inc. (VOYA) : Free Stock Analysis Report Globe Life Inc. (GL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Voya Financial, Inc. VOYA reported second-quarter 2026 adjusted operating earnings of $1.51 per share, missing the Zacks Consensus Estimate of $1.88 by 19.7%. The bottom line declined 38.6% year over year. Revenues of $269 million missed the consensus mark by 4.6%.Lower alternative investment income and severance expenses put pressure on results despite higher fee income and continued commercial momentum. Retirement fee-based revenues rose 10%, while Investment Management delivered positive net flows and earnings growth. After-tax adjusted operating earnings fell to $140 million from $240 million in the year-ago quarter. Results included about $40 million of pre-tax severance expenses and a $15 million pre-tax loss tied to alternative investment performance.Consolidated revenues declined 4.3% year over year to $1.90 billion. Fee income increased 7.5% to $620 million, but net investment income fell 8% to $537 million. Premiums remained nearly flat at $716 million. Total benefits and expenses rose 3.8% to $1.86 billion, including a 4.8% increase in operating expenses. Voya Financial, Inc. price-consensus-eps-surprise-chart | Voya Financial, Inc. Quote Retirement pre-tax adjusted operating earnings decreased 19.1% year over year to $190 million. Strong underlying business momentum and higher fee-based revenues were more than offset by weaker alternative investment income and planned strategic investments.Total client assets increased 14% to $863 billion as of June 30, 2026. Voya also surpassed 10 million participant accounts and completed the integration of OneAmerica. Defined contribution net flows totaled $8.1 billion, demonstrating sustained commercial momentum. Trailing-12-month retirement net revenues rose 10% to $2.42 billion. Adjusted operating earnings increased 6% over the same period to $915 million, although the adjusted operating margin contracted to 37.9% from 39.3%. Investment Management pre-tax adjusted operating earnings, excluding noncontrolling interest, increased 11.8% year over year to $57 million. Higher fee-based revenues, positive capital markets and disciplined expense management supported the improvement.Assets under management reached $377 billion, up 4.7% from the prior-year quarter. The business generated $1.2 billion of net inflows during the quarter, excluding divested businesses. Assets under advisory rose to $63 billion from $54 billion, with quarterly net inflows of $1 billion.Trailing-12-month net revenues increased 6%, while the adjusted operating margin expanded 100 basis points to 29%. Net inflows over the past 12 months totaled $6.3 billion, strengthening the segment’s earnings base. Employee Benefits pre-tax adjusted operating earnings dropped to $22 million from $69 million. The prior-year period had benefited from more favorable Stop Loss claims development, while Voluntary loss ratios increased from unusually low levels.Still, underlying profitability improved over the trailing 12 months. Net revenues advanced 13% to $1.11 billion, and the aggregate loss ratio improved 500 basis points to 74%. The adjusted operating margin expanded to 11% from 3.7%.Management attributed the progress to underwriting discipline, pricing actions and expense management. Stop Loss and Group Life performance contributed more than $110 million of net underwriting improvement during the past 12 months. Voya generated approximately $150 million of excess capital during the quarter, exceeding 100% of after-tax adjusted operating earnings. The company returned about $200 million to shareholders through dividends and share repurchases.VOYA completed a $150 million accelerated share repurchase program at an average price of $78.97 and paid $42 million in common dividends. Remaining repurchase authorization totaled $263 million at quarter-end.The company ended June with approximately $200 million of excess capital. Its risk-based capital ratio was about 390%, above the 375% target, while financial leverage of 27.6% remained within the targeted 25-30% range. Management expects the operating-efficiency measures taken during the quarter to generate recurring savings that fully offset the severance expense within two quarters. These actions are expected to support improved margins and stronger earnings in the second half of 2026.Retirement administrative expenses are projected between $530 million and $545 million for the second half. Employee Benefits administrative expenses are expected between $265 million and $275 million. Management also expects 2026 cash generation to exceed the 2025 level, supported by commercial growth and disciplined expense execution. VOYA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Lincoln National Corporation LNC reported second-quarter 2026 adjusted earnings per share of $2.24, which surpassed the Zacks Consensus Estimate by 12%. The bottom line declined 5.1% year over year. Adjusted operating revenues grew 4.2% year over year to $4.93 billion, surpassing the Zacks Consensus Estimate by 1.4%.Management had earlier projected that the Annuities, Life Insurance, Group Protection and Retirement Plan Services units would account for 58-60%, 8-9%, 24-25% and 8-9%, respectively, of the company's total operating income in 2026. Management had earlier projected an RBC ratio of more than 420% in 2026 and over the long term.AMERISAFE AMSF reported second-quarter adjusted earnings per share of 44 cents, which missed the Zacks Consensus Estimate by 17%. The bottom line declined 17% year over year.  Operating revenues increased 10.3% year over year to $83.95 million and topped the Zacks Consensus Estimate by 1%. AMERISAFE’s quarterly results were affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. Strong premium growth partly offset these headwinds.Globe Life Inc. GL reported second-quarter 2026 net operating income of $3.61 per share, which missed the Zacks Consensus Estimate of $3.67 by 1.6%. The bottom line, however, improved 10% year over year, driven by higher insurance underwriting income. Operating revenues increased 8% year over year to $1.60 billion, driven by higher premium income, stronger net investment income and realized investment gains. The top line surpassed the Zacks Consensus Estimate by 0.6%.Total premium revenues increased 7% year over year to $1.30 billion. Life insurance premiums rose 3% to $860.8 million, while health insurance premiums climbed 16% to $436.9 million, supported by strong growth at United American and Family Heritage. Globe Life raised its full-year 2026 net operating income guidance to a range of $15.55-$15.95 per share, suggesting a 10-cent increase at the midpoint from its prior outlook. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Voya Financial, Inc. (VOYA) : Free Stock Analysis Report Lincoln National Corporation (LNC) : Free Stock Analysis Report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report Globe Life Inc. (GL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Globe Life Inc. recently reported its second-quarter 2026 results, with revenue of US$1,599.73 million and net income of US$287.75 million, and subsequently raised its full-year 2026 net operating earnings guidance to US$15.55–US$15.95 per diluted share, reflecting higher life underwriting margins, stronger health premiums and excess investment income. The updated outlook also factors in potential remeasurement gains of US$110 million to US$130 million from life and health assumption updates, while management continues to return capital through share repurchases, including 1,100,000 shares bought for US$175 million in the latest quarter under a long-running buyback program totaling about US$10.42 billion. We’ll now examine how this upgraded earnings guidance, driven by improved life underwriting margins, interacts with Globe Life’s existing investment narrative. Rare earth metals are an input to most high-tech devices, military and defence systems and electric vehicles. The global race is on to secure supply of these critical minerals. Beat the pack to uncover the 29 best rare earth metal stocks of the very few that mine this essential strategic resource. To own Globe Life, you need to be comfortable with a traditional, agent-heavy insurer that is trying to improve margins while managing regulatory and economic uncertainty. The upgraded 2026 earnings guidance hinges on stronger life underwriting and health premiums, which supports the near term earnings catalyst but does not erase concerns around higher financing costs, investigations and the shift toward digital distribution. For now, the guidance change does not materially alter the biggest risk: pressure on margins if claims or regulation move against it. The most relevant recent announcement here is Globe Life’s Q2 2026 earnings release, which showed higher revenue and net income and underpins the raised full year guidance. These results connect directly to the catalyst of favorable life underwriting margins and growing health premiums, giving investors more concrete numbers behind the outlook. At the same time, the muted share price reaction after earnings highlights how concerns about long term fundamentals can still weigh on sentiment even when results improve. Yet behind the stronger guidance, investors should still pay close attention to rising health claims and ongoing regulatory investigations because... Read the full narrative on Globe Life (it's free!) Globe Life's narrative projects $6.8 billion revenue and $1.3 billion earnings by 2028. This requires 5.1% yearly revenue growth and an earnings increase of about $0.2 billion from $1.1 billion today. Uncover how Globe Life's forecasts yield a $172.10 fair value, in line with its current price. Some of the most optimistic analysts were already assuming Globe Life could lift earnings to about US$1.4 billion by 2029, helped by higher margins and buybacks, whereas today’s guidance raise and evolving claims and regulatory risks could either support or challenge that story, so you should weigh how your own expectations compare with these more upbeat forecasts. Explore 3 other fair value estimates on Globe Life - why the stock might be worth just $172.10! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Globe Life research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision. Our free Globe Life research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Globe Life's overall financial health at a glance. Don't miss your shot at the next 10-bagger. Our latest stock picks just dropped: We've uncovered the 9 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. Find 49 companies with promising cash flow potential yet trading below their fair value. The future of work is here. Discover the 34 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include GL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. Net Income: $288 million or $3.65 per share, a 20% increase from $3.05 per share a year ago. Net Operating Income: $285 million or $3.61 per share, a 10% increase from $3.27 per share a year ago. Return on Equity (GAAP): 18.4% through June 30. Book Value per Share (Excluding AOCI): $100.04, up 11% from a year ago. Total Premium Revenue Growth: 7% increase over the year-ago quarter. Life Premium Revenue: $861 million, a 3% increase from the year-ago quarter. Life Underwriting Margin: $359 million, up 6% from a year ago. Health Premium Revenue: $437 million, a 16% increase from the year-ago quarter. Health Underwriting Margin: $99 million, up 1% from a year ago. Administrative Expenses: $91 million, a 6% increase over the second quarter of 2025. Excess Investment Income: $38 million, up 10% from the year-ago quarter. Net Investment Income: $294 million, up 4%. Average Invested Assets Growth: 2% increase. Share Repurchases: Approximately 1.1 million shares for $175 million at an average price of $154.28 per share. Shareholder Returns: $200 million returned to shareholders in the second quarter of 2026. Term Loan Increase: Principal balance increased from $250 million to $450 million. Liquid Assets: Approximately $110 million at the end of the quarter. Net Operating Earnings Guidance for 2026: $15.55 to $15.95 per diluted share, representing 8.5% growth at the midpoint. Warning! GuruFocus has detected 9 Warning Sign with GL. Is GL fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Globe Life Inc (NYSE:GL) reported a 20% increase in net income per share, reaching $3.65, compared to $3.05 a year ago. The company achieved a 10% increase in net operating income per share, demonstrating resilience and consistent growth. Total premium revenue grew by 7% in the second quarter, with expectations for full-year growth between 6.5% and 7%. Health insurance premium revenue increased by 16%, driven by strong sales in the Medicare Supplement business. The company is leveraging AI to improve administrative efficiency and sales growth, positioning itself for future benefits. Net life sales at American Income Life decreased by 2% due to a decline in agent count. The direct-to-consumer division experienced a 15% decline in net life sales, attributed to changes in online consumer behavior. Health underwriting margin as a percent of premium decreased to 23% from 26% in the year-ago quarter. The company faced higher health obligations as a percent of premium, driven by Medicare supplement claims and high severity claims. The investment portfolio has a net unrealized loss position of $1.4 billion due to current market rates being higher than book yields. Q: Could you give more color on adjusting the DTC environment to AI and how long you see it playing out? A: J. Matthew Darden, Co-CEO, explained that the shift to AI-generated search is increasing the cost of paid search. Globe Life is exploring other advertising platforms like Instagram and Facebook. The company is navigating these changes to maintain profitability without chasing unprofitable sales. Q: Can you discuss the pace of share repurchases and how you see it continuing for the rest of the year? A: Thomas Kalmbach, CFO, stated that the company plans to return $350 million to $370 million to shareholders in the second half of the year. The full-year share repurchases are expected to be in the $670 million to $700 million range, with a pro-rata pace in the third and fourth quarters. Q: Can you quantify the potential capital impact of the planned session to Bermuda in the third quarter? A: Thomas Kalmbach, CFO, mentioned that the reinsurance session is primarily to balance reinsurance of new business, with no expected capital benefit in 2026. Some benefits are anticipated in 2027, but the full impact will emerge over three to five years. Q: On the health side, why have you increased the expectation for remeasurement gains despite weaker claims experience this quarter? A: Thomas Kalmbach, CFO, explained that the assumption update is driven by improved morbidity in American Income Life, Family Heritage, and Liberty National. The higher cancer claims at Liberty National are seen as a fluctuation, not a trend. Q: How does the stock's recent performance affect your outlook for capital deployment and M&A opportunities? A: Frank Svoboda, Co-CEO, stated that higher share prices do not deter buybacks, which remain a primary use of excess cash. The company is open to M&A opportunities that align with its strategy and can grow distribution. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Globe Life Inc. GL reported second-quarter 2026 net operating income of $3.61 per share, which missed the Zacks Consensus Estimate of $3.67 by 1.6%. The bottom line, however, improved 10% year over year, driven by higher insurance underwriting income.The quarter benefited from higher premium revenues, stronger insurance underwriting income, and increased investment income. Higher premium revenues reflected continued strength across the company’s life and health insurance businesses. Globe Life Inc. price-consensus-eps-surprise-chart | Globe Life Inc. Quote Total premium revenues increased 7% year over year to $1.30 billion. Life insurance premiums rose 3% to $860.8 million, while health insurance premiums climbed 16% to $436.9 million, supported by strong growth at United American and Family Heritage.Operating revenues increased 8% year over year to $1.60 billion, driven by higher premium income, stronger net investment income and realized investment gains. The top line surpassed the Zacks Consensus Estimate by 0.6%. Insurance underwriting income increased 5% year over year to $370.3 million. Life underwriting income rose 6% to $359.4 million, while health underwriting income edged up 1% to $99.3 million. Net investment income rose 4% year over year to $293.8 million. Excess investment income, a key profitability measure, rose 10% to $38.3 million as higher investment income more than offset increased required interest on policy liabilities.Administrative expenses were up 6.2% year over year to $91.4 million.Total benefits and expenses increased 6.5% year over year to $1.2 billion, primarily due to higher total policyholder benefits, amortization of deferred acquisition costs, commissions, premium taxes and non-deferred acquisition costs, interest expense and other operating expense. Life insurance premium growth was led by the American Income division, where premiums increased 5% year over year to $466.3 million. Liberty National premiums rose 3%, while Direct to Consumer premiums slipped 1%. Overall life net sales declined 3% to $149.6 million as weaker Direct to Consumer sales more than offset Liberty National's gains.Health insurance continued to outperform. United American health premiums surged 29% year over year to $211.4 million, while Family Heritage premiums increased 9%. Total health net sales improved 2% to $70.4 million, supported by double-digit growth at United American despite softer performance at Liberty National and American Income. Book value per share increased 18% year over year to $78.18. Excluding accumulated other comprehensive income (AOCI), book value per share rose 11% to $100.04.Net income return on equity was 18.4% for the first six months of 2026, down 40 basis points year over year. Net operating income return on equity, excluding AOCI, was 14.3%, down 10 basis points year over year.During the reported quarter, Globe Life repurchased 1.1 million shares for $175 million at an average price of $154.28 per share, continuing its shareholder return strategy. Globe Life raised its full-year 2026 net operating income guidance to a range of $15.55-$15.95 per share, suggesting a 10-cent increase at the midpoint from its prior outlook. Globe Life currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Progressive Corporation’s PGR second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year. Net premiums written were $21.1 billion in the quarter, up 5% from $20.1 billion a year ago.Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate. Net realized gains on securities were $604 million, up 56% year over year. Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 110 basis points from the prior-year quarter’s level to 87.1.The Travelers Companies, Inc. TRV reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%.Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio.W.R. Berkley Corporation WRB reported second-quarter 2026 operating income of $1.27 per share, which beat the Zacks Consensus Estimate by 16.5%. The bottom line increased 21% year over year. W.R. Berkley’s net premiums written were about $3.4 billion, up 2.4% year over year. The figure surpassed our estimate of $3.4 billion.Operating revenues totalled $ 3.8 billion, up 3.6% year over year.  The top line surpassed the consensus estimate by 1.87%. Net investment income grew 10.4% to $418.7 million, supported by higher invested assets and higher portfolio yields. The figure topped our estimate of $407 million. The consensus estimate was $395.6 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Globe Life Inc. (GL) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report The Progressive Corporation (PGR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Globe Life Inc.? Here are five stocks we like better. Globe Life beat second-quarter expectations with net income of $288 million, or $3.65 per share, and raised its full-year outlook. Management cited stronger life underwriting trends, growth in health premiums, and higher excess investment income. Premium growth was led by health insurance, with total premium revenue up 7% and health premiums up 16% year over year. The company said Medicare Supplement rate increases, sales growth, and favorable demand trends are supporting the segment, though health underwriting margins were pressured by higher claims. The company lifted guidance and stepped up capital returns, now expecting 2026 net operating earnings per share of $15.55 to $15.95 and increasing planned share repurchases to $670 million to $700 million for the year. Globe Life also highlighted a larger focus on disciplined digital marketing as AI changes how consumers search for insurance online. Beyond the Foundry: 5 Infrastructure Stocks Tackling the AI Bottlenecks Globe Life (NYSE:GL) reported higher second-quarter earnings and raised its full-year outlook, with executives pointing to favorable life underwriting trends, growth in health premiums and stronger excess investment income, while also addressing changes in online advertising and agent recruiting. Frank Svoboda, Globe Life’s co-chairman and CEO, said net income for the quarter was $288 million, or $3.65 per share, up 20% from $3.05 per share a year earlier. Net operating income was $285 million, or $3.61 per share, up 10% from $3.27 per share in the prior-year quarter. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? The AI Boom Has a Second Act—And It's Playing Out in Optics “We are pleased to see continued strong results in our operations,” Svoboda said, adding that the company has generated double-digit net operating income per share growth in eight of the last nine quarters. On a GAAP basis, return on equity through June 30 was 18.4%, while book value per share was $70.18. Excluding accumulated other comprehensive income, return on equity was 14.3% and book value per share was $100.04, up 11% from a year earlier. Total premium revenue rose 7% in the second quarter, and Svoboda said the company expects full-year total premium growth of 6.5% to 7%. → 3 Photonics Companies Making Quantum Tech Possible Corning Is Paving AI's Future With Glass Life premium revenue increased 3% to $861 million, while life underwriting margin rose 6% to $359 million. The life underwriting margin as a percentage of premium was 42%, up from 41% a year earlier. Globe Life expects full-year life premium revenue growth of 2.5% to 3%. Health insurance premium revenue increased 16% to $437 million, driven by Medicare Supplement rate increases and sales growth in the United American and Family Heritage divisions. Health underwriting margin rose 1% to $99 million, though the margin as a percentage of premium fell to about 23% from 26% a year earlier. Management expects full-year health premium growth of 14% to 16% and health underwriting margins of 23% to 27%. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off Tom Kalmbach, executive vice president and chief financial officer, said life policy obligations as a percentage of premium improved to 34.3% from 36.7% a year earlier, reflecting favorable mortality trends. Health obligations rose to 56.8% from 53.3%, which he said was higher than management’s estimates due to several factors, including Medicare Supplement claims related to prior periods, an industry-wide CMS physician reimbursement rate correction, higher loss ratios at Evry Health and an adverse fluctuation in cancer claims at Liberty National. Matt Darden, co-CEO, said American Income Life premiums rose 5% to $466 million, while life underwriting margin increased 4% to $214 million. Net life sales fell 2% to $95 million, primarily because of a lower agent count. The average producing agent count was 11,391, down 7% from a year earlier but up 3% from the end of the first quarter. Darden said compensation changes implemented at the start of the second quarter were intended to improve agent recruiting and new-agent retention, and he expects mid-single-digit growth in both agent count and life sales at American Income during the second half of the year. At Liberty National, life premiums rose 3% to $101 million, and life underwriting margin increased 10% to $37 million. Net life sales rose 6% to $26 million, while net health sales fell 15% to $7 million as the division emphasized life business. Darden said the company is changing its sales presentation to place more emphasis on health sales. Family Heritage health premiums increased 9% to $126 million, and health underwriting margin rose 10% to $45 million. Net health sales increased 4% to $31 million, supported by a 7% increase in average producing agent count. United American health premiums rose 29% to $211 million, while health underwriting margin was $11 million, down $1 million from a year earlier. Net health sales increased 10% to $28 million. Darden said Medicare Supplement sales remained strong, supported by more people turning 65, movement from Medicare Advantage to Medicare Supplement and rate increases implemented during the quarter. He noted that Globe Life does not market Medicare Advantage plans. Globe Life’s direct-to-consumer division reported life premiums down about 1% to $244 million, while life underwriting margin rose 10% to $76 million. Net life sales fell 15% to $27 million. Darden said the direct-to-consumer business is in a transition period as consumers increasingly use AI tools to search online for goods and services, including life insurance. That change has reduced paid search volume from internet marketing and raised the cost of paid search. “We’re going to be disciplined on our spend and make sure that we maintain our margin, and we’re not just going to chase sales that don’t meet our profitability targets,” Darden said during the question-and-answer session. He said Globe Life is working to make its digital content more visible and easier for AI assistants to interpret, while also using platforms such as Instagram and Facebook. He compared the shift to the earlier transition from direct mail to digital marketing. The company still expects to generate more than 1 million leads this year to support its agencies. Kalmbach said Globe Life now expects 2026 net operating earnings per diluted share of $15.55 to $15.95, representing 8.5% growth at the midpoint. He said the increase from prior guidance was primarily due to improved life underwriting margins and excess investment income, partly offset by higher financing costs and the reduced impact of share repurchases due to a higher share price. The outlook includes expected remeasurement gains from third-quarter life and health assumption updates of $110 million to $130 million. Kalmbach said the life assumption update is expected to contribute $90 million to $100 million, while the health assumption update is expected to contribute $20 million to $30 million. During the second quarter, Globe Life repurchased about 1.1 million shares for $175 million at an average price of $154.28. Including $25 million in dividends, the company returned about $200 million to shareholders in the quarter. Kalmbach said the company expects full-year dividends of about $95 million and share repurchases of $670 million to $700 million, a $100 million increase at the midpoint from the prior call. He corrected an earlier statement during the Q&A, saying the company expects to return approximately $350 million to $370 million to shareholders over the remainder of the year. Excess investment income rose 10% to $38 million. Net investment income increased 4% to $294 million, while average invested assets grew 2%. Svoboda said Globe Life invested $399 million in fixed maturities during the quarter at an average yield of 6.27%, with an average rating of A and an average life of 36 years. The company also invested about $91 million in commercial mortgage loans and other long-term investments with debt-like characteristics. Svoboda said invested assets totaled $22.1 billion, including $19.3 billion of fixed maturities at amortized cost. The fixed maturity portfolio had a net unrealized loss position of $1.4 billion, which he said was mostly interest-rate driven and related entirely to bonds with maturities beyond 10 years. Kalmbach also provided an update on Globe Life Re, the company’s Bermuda reinsurance affiliate. He said Nebraska approved reciprocal jurisdiction for Globe Life Re in the second quarter, and the company is seeking similar approval from Indiana, American Income’s state of domicile. Globe Life expects to complete a new reinsurance cession in the third quarter, reinsuring a portion of new business and in-force policies to Globe Life Re. Kalmbach said the company does not expect a capital benefit from the next reinsurance transaction in 2026, but expects some benefit in 2027, with the full impact emerging over three to five years. Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments. The company's product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Globe Life Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

MCKINNEY, Texas, July 22, 2026 /PRNewswire/ -- Globe Life Inc. (NYSE: GL) reported today that for the quarter ended June 30, 2026, net income was $3.65 per diluted common share, compared with $3.05 per diluted common share for the year-ago quarter. Net operating income was $3.61 per diluted common share, compared with $3.27 per diluted common share for the year-ago quarter. The Company also increased full-year 2026 earnings guidance to a range of $15.55 to $15.95, an increase of $0.10 at the midpoint. HIGHLIGHTS: Net income per share increased 20% and net operating income per share increased 10% over the year-ago quarter. Globe Life has produced double-digit growth in net operating income per share in eight of the last nine quarters. Net income as an ROE was 18.4% for the six months ended June 30, 2026. Book value per share was $78.18, an increase of 18% over the year-ago quarter. Net operating income as an ROE excluding accumulated other comprehensive income (AOCI) was 14.3% for the six months ended June 30, 2026. Book value per share excluding AOCI was $100.04, an increase of 11% over the year-ago quarter. Total premium revenue grew 7% over the year-ago quarter. At the American Income Life Division, life premium increased 5% and life underwriting margin increased 4% over the year-ago quarter. At the Liberty National Division, life underwriting margin increased 10% and life net sales increased 6% over the year-ago quarter. Additionally, the average producing agent count increased 8% over the year-ago quarter. At the Family Heritage Division, health underwriting margin increased 10%, health premium increased 9%, and health net sales increased 4% over the year-ago quarter. Additionally, the average producing agent count increased 7% over the year-ago quarter. At the Direct to Consumer Division, life underwriting margin increased 10% over the year-ago quarter. At the United American Division, health premium increased 29% and health net sales increased 10% over the year-ago quarter. 1.1 million shares of Globe Life Inc. common stock were repurchased during the quarter at a total cost of $175 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. GLOBE LIFE INC.Earnings Release—Q2 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 June 30, 2026 and 2025: GLOBE LIFE INC.Earnings Release—Q2 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. GLOBE LIFE INC.Earnings Release—Q2 2026(Dollar amounts in thousands, except share and per share data)(Unaudited) INSURANCE OPERATIONS: Life insurance accounted for 78% of the Company's insurance underwriting margin for the quarter and 66% of total premium revenue. Health insurance accounted for 22% of the Company's insurance underwriting margin for the quarter and 34% of total premium revenue. The following table summarizes Globe Life's premium revenue by product type for the three months ended June 30, 2026 and 2025: 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 June 30, 2026 and 2025: The ratio of administrative expenses to premium was 7.0%, compared with 7.1% for the year-ago quarter. GLOBE LIFE INC.Earnings Release—Q2 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." GLOBE LIFE INC.Earnings Release—Q2 2026(Dollar amounts in thousands, except share and per share data)(Unaudited) HEALTH INSURANCE RESULTS BY DISTRIBUTION CHANNEL GLOBE LIFE INC.Earnings Release—Q2 2026(Dollar amounts in thousands, except share and per share data)(Unaudited) PRODUCING EXCLUSIVE AGENT COUNT RESULTS BY DISTRIBUTION CHANNEL 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. Net investment income increased 4% and average invested assets increased 2%. Required interest on policy liabilities increased 3% and average policy liabilities increased 4%. GLOBE LIFE INC.Earnings Release—Q2 2026(Dollar amounts in thousands, except share and per share data)(Unaudited) The composition of the investment portfolio at book value at June 30, 2026 is as follows: Fixed maturities at amortized cost, net of allowance for credit losses, by asset class as of June 30, 2026 are as follows: Below are fixed maturities available for sale by amortized cost, allowance for credit losses, and fair value at June 30, 2026 and the corresponding amounts of net unrealized gains and losses recognized in accumulated other comprehensive income (loss). 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 5.30% during the second quarter of 2026, compared with 5.29% in the year-ago quarter. Globe Life is not a party to any credit default swaps and does not participate in securities lending. GLOBE LIFE INC.Earnings Release—Q2 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: SHARE REPURCHASES: During the quarter, the Company repurchased 1.1 million shares of Globe Life Inc. common stock at a total cost of $175 million and an average share price of $154.28. 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." 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) Ratings changes with respect to our financial strength and credit ratings and potential adverse impacts to liquidity; 5) Interest rate changes that affect product sales, financing costs, and/or investment yields; 6) 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; 7) Changes in the competitiveness of the Company's products and pricing; 8) Litigation results and regulatory actions; 9) 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); 10) The ability to obtain timely and appropriate premium rate increases for health insurance policies from our regulators; 11) The ability of our subsidiaries to pay dividends to the Parent Company and to receive required regulatory approvals on such amounts; 12) The customer response to new products and marketing initiatives; 13) Reported amounts in the consolidated financial statements which are based on management estimates and judgments which may differ from the actual amounts ultimately realized; 14) 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; 15) The Company's ability to attract and retain agents; 16) 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 17) 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. EARNINGS RELEASE CONFERENCE CALL WEBCAST: Globe Life will provide a live audio webcast of its second quarter 2026 earnings release conference call with financial analysts at 11:00 am (Eastern) tomorrow, July 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." 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