MCKINNEY, Texas, Dec. 4, 2024
/PRNewswire/ -- Globe Life Inc. (NYSE: GL) has issued the following
statement refuting the allegations raised in a report published
today by Viceroy Research:
Following the rapid onset of the pandemic, American Income Life
(AIL) and its independent agency owners began transitioning to a
virtual business model, which in turn led many agency owners to
realign their real estate portfolios. By enabling our agents to
work virtually, providing work flexibility and eliminating overhead
costs to better build their own businesses, AIL's agent count
increased from over 8,000 agents in March of 2020 to over 12,000 in
November of 2024. This virtual business model has helped enable the
Globe Life family of companies to issue more life insurance
policies and protect more policyholders than any other life
insurance company in the country, with more than 17 million
policies in force.
Once again, an opportunistic short seller has presented a false
picture of AIL's presence across the country. To be clear, every
single business named in the report is still in operation. We
verified that the report listing of disconnected phone numbers is
inaccurate and misleading. These independent agency offices operate
from various virtual and physical locations, allowing agents to
service customers across the country more efficiently. The
short seller's misrepresentation of our strategy is yet another
dishonest and cynical effort to harm the Company's reputation,
manufacture a drop in the stock price, and reap a short-term profit
at the expense of our people, our investors, and the millions of
individuals and families we protect.
Media Contact:
Jennifer Haworth
Executive Vice President and Chief Marketing Officer
jhaworth@Globe.Life
Investor Contact:
Stephen Mota
Senior Director Investor Relations
Investors@globe.life
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SOURCE Globe Life
