Globe Life Inc. reported its financial results for the first quarter of 2025, revealing a slight increase in net income to $254.6 million, compared to $254.2 million in the same period last year. The company's diluted earnings per share rose to $3.01, up from $2.67 in the prior year, reflecting a 13% increase. Total revenue for the quarter reached $1.48 billion, a 5% increase from $1.42 billion in the first quarter of 2024, driven by a 5% rise in total premium income, which amounted to $1.20 billion.
The company experienced notable changes in its operational metrics. Life premium increased by 3% to $829.9 million, while health premium saw a more significant rise of 8% to $369.8 million. The average producing agent count across all exclusive agencies grew by 5%, contributing to a 6% increase in total net sales, which reached $216 million. However, net investment income declined by 1% to $280.6 million, attributed to lower yields on commercial mortgage loans and limited partnerships.
Strategically, Globe Life has continued to focus on share repurchases, buying back 1.5 million shares at a total cost of $177 million during the quarter. The company also entered into a recapture agreement with a reinsurer, resulting in net proceeds of $39 million, which positively impacted its cash flows. The total assets of Globe Life increased to $29.7 billion, up from $29.1 billion at the end of 2024, with total shareholders' equity rising to $5.4 billion.
Looking ahead, Globe Life maintains a positive outlook, projecting continued growth in premium income and net sales. The company aims to leverage its strong cash flows and investment strategies to support its insurance operations and enhance shareholder value. The management emphasized that despite fluctuations in market conditions, the company is well-positioned to meet its financial obligations and capitalize on growth opportunities in the insurance sector.
About GLOBE LIFE INC.
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