Globe Life GL Q2 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 22, 2026 astatine 11:00 AM CDT 50 min read

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Thursday, July 24, 2025 astatine 11:00 a.m. ET

• Chief Executive Officer — James Matthew Darden

• Chief Financial Officer and Executive Vice President — Frank Martin Svoboda

• Executive Vice President, General Counsel, and Corporate Secretary — Thomas Peter Kalmbach

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Frank Martin Svoboda: Thank you, Stephen, and bully morning, everyone. In the 2nd quarter, nett income was $253 cardinal oregon $3.05 per stock compared to $258 cardinal oregon $2.83 per stock a twelvemonth ago. Net operating income for the 4th was $271 cardinal oregon $3.27 per share, an summation of 10% implicit the $2.97 per stock from a twelvemonth ago. On a GAAP reported basis, instrumentality connected equity done June 30 is 18.8%, and publication worth per stock is $66.07, excluding accumulated different broad income, oregon AOCI, instrumentality connected equity is 14.4% and publication worth per stock arsenic of June 30 is $90.26, up 10% from a twelvemonth ago.

In our Life Insurance operations, premium gross for the 2nd 4th accrued 3% from the twelvemonth agone 4th to $840 million. Life underwriting borderline was $340 million, up 6% from a twelvemonth ago, driven by premium maturation and little wide argumentation obligations. For the year, we expect beingness premium gross to turn astir 3.5%. As a percent of premium, we expect beingness underwriting borderline to beryllium betwixt 43% and 45%, which is higher than our erstwhile estimation owed to continued favorable mortality. In [Technical Difficulty] wellness insurance, premium gross grew 8% to $378 million, portion wellness underwriting borderline was down 2% to $98 cardinal owed chiefly to higher obligations than the twelvemonth agone play astatine United American.

Tom volition speech much astir the Medicare Supplement concern successful his comments, but I would similar to constituent retired present that we saw a flimsy simplification successful utilization from the archetypal 4th to the 2nd quarter, resulting successful an underwriting borderline astatine United American arsenic a percent of premium astatine the precocious extremity of our expectations. For the year, we expect wellness premium gross to turn successful the scope of 8% to 9% and expect wellness underwriting borderline arsenic a percent of premium to beryllium betwixt 25% and 27%. Administrative expenses were $86 cardinal for the quarter, an summation of astir 5% implicit the 2nd 4th of 2024. As a percent of premium, administrative expenses were 7.1%.

For the year, we expect administrative expenses to summation by astir 4% implicit 2024 and beryllium astir 7.3% of premium, little than noted connected the past call. I volition present crook the telephone implicit to Matt for his comments connected the 2nd 4th selling operations.