Globe Life's second-quarter profit rises on strong underwriting
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.
The McKinney, Texas-based company's life underwriting margin increased 6% over the year-ago quarter.
Insurance underwriting income grew 15% in the second quarter ended June 30, reaching $4.28 per share. Net investment income, however, decreased 1%, compared to the same period last 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 per share for the quarter rose to $3.05, up from $2.83 per share a year earlier.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
9 minutes ago
- CBS News
Schools and counties begin to see payment delays as Pennsylvania's budget stalemate hits a month
Democratic Gov. Josh Shapiro's administration says billions of dollars in aid to Pennsylvania's schools and human services will be delayed, as he and the politically divided Legislature struggle to end what is now a monthlong budget stalemate. State-supported universities, libraries, early-childhood education programs and county health departments also will see delays in payments, Shapiro's administration said in letters sent Tuesday to providers. "I recognize this information is concerning, and it is equally concerning to both me and the governor," Budget Secretary Uri Monson said in the letters. "Our administration continues to work diligently to find agreement between the House and Senate and we will work to support you and your organization as you manage the current situation." Borrowing isn't widespread by counties and school districts to cover for late state payments, and some have reserves they can tap. But borrowing may grow if the stalemate drags well into August. Budget stalemates are also playing out in Michigan and North Carolina, where Democratic governors are sharing power with Republican legislators. Without the governor's signature on a new spending plan, the Pennsylvania state government lost some of its spending authority starting July 1. Pennsylvania school districts, which received more than $11 billion last year from the state for operations, will see delays on more than $2 billion in payments through August, Shapiro's administration said. District officials have said the poorest districts might have to borrow money if aid is delayed in August, and the Pennsylvania School Boards Association says the stalemate is causing districts to reconsider how they spend, such as leaving teaching positions unfilled or putting off purchases of student laptops. A school board's official, Andy Christ, said the state didn't reimburse districts for the cost of borrowing during past stalemates. Universities, such as Penn State and state-run system schools, will see delays on more than $200 million in aid, and counties will not get on-time payments of $390 million to child welfare agencies, the Shapiro administration said. The County Commissioners Association of Pennsylvania said its members are "growing more and more concerned about the consequences" of the stalemate, particularly on human services such as mental health counseling, child welfare, and drug and alcohol treatment. More than $100 million in payments to a range of other agencies, nonprofits and programs will also be delayed, according to the administration, and it said it cannot distribute money to early childhood education providers. For weeks, Shapiro and top Republican lawmakers have said they are engaged in closed-door discussions to try to find a compromise. The state House and Senate have not scheduled voting sessions for this week. The biggest issues for Republicans are curbing Shapiro's $51.5 billion spending proposal — driven by a massive increase in Medicaid costs — and their push to regulate and tax tens of thousands of slot-machine-like cash-paying "skill" games that are popping up everywhere. Top priorities for Shapiro and Democrats are boosting funding for public schools and public transit agencies. During a stalemate, the state is legally bound to make debt payments, cover Medicaid costs for millions of Pennsylvanians, issue unemployment compensation payments, keep prisons open and ensure state police are on patrol. All state employees under a governor's jurisdiction are typically expected to report to work and be paid as scheduled. Michigan's Democratic-controlled Senate and the Republican-controlled House of Representatives remain far apart on numerous proposals, including funding for schools and roads. The chambers' leaders have accused each other of refusing to negotiate. If lawmakers and Democratic Gov. Gretchen Whitmer don't pass a budget by the Oct. 1 start of the state's fiscal year, they risk a government shutdown. In North Carolina, where Republicans control the Legislature, a budget deal likely isn't expected until late August at the earliest. Teacher and state employee salary raises, tax cuts and eliminating vacant government positions have been among the leading differences in competing spending plans. State government is in no danger of a shutdown, and the Legislature sent Democratic Gov. Josh Stein a stopgap spending plan on Wednesday. ___ Associated Press reporters Gary D. Robertson in Raleigh, North Carolina, and Isabella Volmert in Lansing, Michigan, contributed. Follow Marc Levy on X at:
Wall Street Journal
9 minutes ago
- Wall Street Journal
The Economist Trump Targeted Over ‘Rigged' Jobs Data
About a year into her tenure as the head of the Bureau of Labor Statistics, Erika McEntarfer stood before the Atlanta Economics Club and laid out what she saw as two obstacles to her job producing the government's economic data: the cost of doing that work was rising, and the number of people responding to surveys was declining. The bureau, she said, would aim to modernize and keep going. 'If we succeed, the U.S. can continue to have this rich set of economic data,' she told the group.
Yahoo
9 minutes ago
- Yahoo
I combed through 1,000s of Amazon long weekend deals — 5 of the absolute best, plus 20 more
Long weekend = big savings — shop bestselling Amazon deals while they're still in stock. The August long is here, and if you're anything like me, you're probably wondering: A) where did July go? and B) what are the best long weekend deals? While I can't explain how time is moving at lightning speed, I can help you find some solid sales, Amazon Canada's Deals Store is always one of my go-tos — you're bound to find good deals on everythingfrom TVs and headphones to air fryers and coffee makers. To make things easier for you, I've rounded up some of the very best Amazon Canada deals you can shop this long weekend, with plenty of markdowns at 70 per cent off or more. Scroll below to see what's worth adding to your cart. Already know what you're looking for? Shop by category below: Long weekend home deals Long weekend kitchen deals Long weekend beauty deals Long weekend fashion deals Long weekend tech deals Long weekend lawn & garden deals 5 very best Amazon deals to shop this long weekend 20 other really good Amazon deals to shop this long weekend Best Amazon tech deals Save 20%: Philips Roku TV 40" FHD 1080p LED-LCD Smart TV (shop for $198 $248) 63% off: 15.6-inch Laptop with Office 365 (shop for $300 $800) Take 13% off: Amazon Fire TV 40" 2-Series HD smart TV (shop for $270 $310) 49% off: JBL Tune 510BT Wireless On-Ear Bluetooth Headphones (shop for $36 $70) Save 79%: Portable Charger Power Bank (shop for $42 $200) Best Amazon kitchen deals Save 30% (with Prime): Philips Baristina Espresso Machine (shop for $350 $500) Take 42% off: Keurig K-Supreme Plus Coffee Maker (shop for $130 $224) Save 36%: Chefman Air Fryer (shop for $70 $110) 38% off: Digital Meat Thermometer (shop for $14 $22) Take 36% off: Oil Dispenser Bottles (Set of 2) (shop for $13 $20) Best Amazon home & living deals Save 71%: ZCWA Robot Vacuum and Mop Combo (shop for $200 $680) 47% off: Vacuum Storage Bags (Set of 7) (shop for $16 $30) Take 81% off: MORENTO Smart Air Purifier (shop for $118 $622) Save 88%: Cordless Electric Cleaning Brush (shop for $50 $400) 79% off: Small Standing Desk with Adjustable Height (shop for $85 $400) Best Amazon beauty & personal care deals Save 43%: Portable Neck Fan (shop for $34 $60) 87% off: Bluetooth Smart Watch (shop for $35 $260) Save 48%: Oral-B Pro Limited Electric Toothbrush (shop for $63 $120) 51% off: Deep Tissue Muscle Massage Gun (shop for $69 $140) Take 39% off: Retinol Face Moisturizer with Collagen & Hyaluronic Acid (shop for $18 $30)
