Insurer Globe Life's second-quarter profit rises on strong underwriting income
GL•Key details from the quarter
- The company's insurance underwriting income grew 10% to $4.69 per share in the quarter ended June 30, from $4.28 per share a year earlier.
- Its net investment income, the income earned from its portfolio of invested assets, rose 4% from a year earlier.
- The company raised its full-year 2026 earnings guidance to a range of $15.55 to $15.95 per share, from its previous forecast of $15.40 to $15.90 per share.
- The McKinney, Texas-based company's diluted net income per share rose to $3.65, from $3.05 per share a year earlier.
- Like other insurers, Globe Life invests part of its capital in fixed-income and other assets, making investment income sensitive to interest-rate movements and broader market trends.
- The company's shares have gained about 32% so far in 2026.
Second-quarter profit rises on underwriting and investment income
July 22 (Reuters) - Life and supplemental health insurer Globe Life GL.N on Wednesday posted a nearly 20% rise in second-quarter profit, helped by stronger underwriting performance and higher income from investments.
Higher interest rates have improved performance in the U.S. life insurance sector, while elevated living costs are driving consumers to seek more financial security through insurance products.
