GLOBE LIFE INC. REPORTS FOURTH QUARTER 2024 RESULTS

Core Viewpoint - Globe Life Inc. reported strong financial performance for the fourth quarter and full year of 2024, with increases in both net income and net operating income per diluted common share compared to the previous year [1][2]. Financial Performance - For Q4 2024, net income was $3.01 per diluted common share, up from $2.88 in Q4 2023, representing a 4.5% increase [1] - Net operating income for Q4 2024 was $3.14 per diluted common share, compared to $2.80 in Q4 2023, marking a 12% increase [1][8] - For the full year 2024, net income was $11.94 per diluted common share, an increase of 18.5% from $10.07 in 2023 [2] - Net operating income for the year was $12.37 per diluted common share, up 16.1% from $10.65 in 2023 [2] Insurance Operations - Life insurance accounted for 79% of the company's insurance underwriting margin for Q4 2024, while health insurance accounted for 21% [15] - Total premium revenue for Q4 2024 was $1.18 billion, a 4.5% increase from $1.13 billion in Q4 2023 [17] - Life insurance premiums increased by 4% to $822.96 million, and health insurance premiums rose by 7% to $358.31 million compared to the previous year [17] Investment Performance - Net investment income grew by 4% year-over-year, reaching $282.45 million in Q4 2024 [29] - Excess investment income for Q4 2024 was $38.33 million, a 7% increase from $35.82 million in Q4 2023 [29] - The investment portfolio's fixed maturities at fair value totaled $17.16 billion, representing 88% of the total investment portfolio [31] Share Repurchase and Capital Management - The company repurchased 337,821 shares of common stock during Q4 2024 at an average price of $105.37, totaling $36 million [37] - For the full year 2024, Globe Life repurchased 10.1 million shares at a total cost of $946 million [37] Future Guidance - Globe Life projects net operating income between $13.45 to $14.05 per diluted common share for the year ending December 31, 2025 [39]