Globe Life Q2 2020 Earnings Report
Key Takeaways
Globe Life reported a decrease in net income per diluted common share from $1.67 to $1.62 and a decrease in net operating income per diluted common share from $1.67 to $1.65 compared to the year-ago quarter. The company successfully transitioned to a primarily virtual operation due to COVID-19.
Net income as an ROE was 9.4% for the six months ended June 30, 2020.
Life premiums increased over the year-ago quarter by 8% at the Direct to Consumer Division and 7% at the American Income Life Division.
Health premiums increased over the year-ago quarter by 7% at the Family Heritage Division.
Life net sales at the Direct to Consumer Division increased over the year-ago quarter by 43%.
Globe Life
Globe Life
Globe Life Revenue by Segment
Forward Guidance
Globe Life projects that net operating income per share will be in the range of $6.80 to $7.04 for the year ending December 31, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income