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Globe Life

Globe Life Insurance Company Details

Globe Life Logo.jpg
Formerly
Torchmark Corporation
(1980–2019)
Type
PublicTraded as
  • NYSE: GL
  • S&P 500 component
IndustryLife insuranceFounded1900 in Birmingham, Alabama, U.S.Headquarters McKinney, Texas, U.S.
Key people
Gary Coleman and Larry Hutchison (CEO)Revenue IncreaseUS$4.304 billion (2018)
Operating income
IncreaseUS$706.97 million (2018)
Net income
DecreaseUS$701.47 million (2018)Total assets IncreaseUS$22.557 billion (2018)Total equity IncreaseUS$4.989 billion (2018)
Number of employees
3,102 (2019)Websiteglobelifeinsurance.com

Globe Life Plans details Review

  • NYSE: GL
  • S&P 500 component

Globe Life is a financial services holding company listed on the New York Stock Exchange (GL) which operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. The company is based in McKinney, Texas.

Globe Life History

The original core of Globe Life, Liberty National Life Insurance Company was founded in 1900 as the Heralds of Liberty, a fraternal benefit society. The company was headquartered in Birmingham, Alabama until 2006 when it moved to McKinney, Texas.

In 1980, Liberty National acquired Globe Life And Accident Insurance Company and formed the holding company, Torchmark Corporation.

In 1981, TMK acquired United Investors Life Insurance Company (UIL), United American Insurance Company, and Waddell and Reed Financial.

In 1994, TMK acquired American Income Life Insurance Company;

In 1998, TMK spun off Waddell and Reed Financial, a mutual fund subsidiary.

In 2006, TMK began moving its headquarters from Birmingham, AL to McKinney, TX.

In 2010, TMK sold United Investors Life Insurance Company (UIL) to Protective Life Corporation.

In 2012, TMK acquired Family Heritage Life Insurance Company of America (FHL). It was renamed Globe Life Family Heritage Division in 2019.

On February 5, 2014, Torchmark’s subsidiary Globe Life purchased the naming rights of Globe Life Park in Arlington, formerly Rangers Ballpark in Arlington, the home of Major League Baseball’s Texas Rangers Baseball Club located in Arlington, TX.

In August 2001, a mutual fund company filed a civil racketeering suit against Torchmark Corp., which accused Torchmark Corp. and its former chief executive of scheming to continue control over Waddell & Reed Financial Inc. after Torchmark spun it off in 1998. However, in a series of orders dated February 20, 2003, August 20, 2004, and September 28, 2004, the United States District Court for the Northern District of Kansas later granted summary judgment against plaintiff Waddell & Reed and in favor of Torchmark and the other defendants named in the action.

On August 8, 2019, Torchmark Corporation was renamed to Globe Life and its ticker symbol changed from “TMK” to “GL”.

Globe Life Subsidiaries

  • Globe Life Liberty National Division, McKinney, Texas
  • Globe Life And Accident Insurance Company, Oklahoma City, Oklahoma
  • United American Insurance Company, McKinney, Texas
  • American Income Life Insurance Company, Waco, Texas
  • Globe Life Family Heritage Division (previously known as Family Heritage Life Insurance Company of America)
  • List of Texas companies (T)

Globe Life biography Net worth, Details Reference

  • Business data for Globe Life:
    • Google Finance
    • Yahoo! Finance
    • SEC filings
  • Google Finance
  • Yahoo! Finance
  • SEC filings
Updated: April 22, 2020 — 11:45 pm

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