Globe Life's fourth-quarter profit rises on strong underwriting
Feb 4 (Reuters) - Life and supplemental health insurance company Globe Life GL.N reported a rise in fourth-quarter profit on Wednesday, driven by stronger underwriting performance.
Despite economic uncertainty, demand for life insurance has remained strong as consumers focus on protecting their finances amid rising living expenses.
Additionally, technological advancements and digital distribution channels have made access to insurance policies easier for younger demographics, supporting sustained growth in the sector.
Insurance underwriting income grew 12% in the quarter ended December 31 from a year ago, reaching $4.45 per share. Net investment income, however, decreased slightly year over year.
Insurers, including Globe Life, typically invest a portion of their capital across various asset classes, such as fixed-income securities and equities, generating returns that tend to align with broader market trends.
Diluted net income for the quarter rose to $3.29 per share, up from $3.01 per share in the fourth quarter of 2024.
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