Globe Life is a
financial services
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companie ...
holding company listed on the
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...
(GL) which operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. The company is based in
McKinney, Texas
McKinney is a city in and the county seat of Collin County, Texas. It is Collin County's third-largest city, after Plano, Texas, Plano and Frisco, Texas, Frisco. A suburb of the Dallas–Fort Worth metroplex, McKinney is about north of Dallas.
...
.
History
The original core of Globe Life,
Liberty National Life Insurance Company
Globe Life Liberty National Division, formerly Liberty National Life Insurance, located in McKinney, Texas, is a provider of life and supplemental health insurance. It provides individual coverage through home and workplace sales. Licensed in 49 ...
was founded in 1900 as the Heralds of Liberty, a fraternal benefit society. The company was headquartered in Birmingham, Alabama until 2006 when it moved to McKinney, Texas.
In 1980, Liberty National acquired Globe Life And Accident Insurance Company and formed the holding company, Torchmark Corporation.
[Best's Insurance Reports Life/Health United States & Canada 2008 Edition Volume I]
In 1981, TMK acquired
United Investors Life Insurance Company
United Investors Life Insurance Company (UILIC), based in Birmingham, Alabama, provides individual life insurance and annuity products. United Investors was founded in 1961. UILIC has more than $14 billion of insurance in force (as of 7/10). There ...
(UIL), United American Insurance Company, and Waddell and Reed Financial.
In 1994, TMK acquired American Income Life Insurance Company;
In 1998, TMK spun off
Waddell and Reed Financial, a mutual fund subsidiary.
In 2006, TMK began moving its headquarters from
Birmingham, AL
Birmingham ( ) is a city in the north central region of the U.S. state of Alabama. Birmingham is the seat of Jefferson County, Alabama's most populous county. As of the 2021 census estimates, Birmingham had a population of 197,575, down 1% from ...
to McKinney, TX.
In 2010, TMK sold United Investors Life Insurance Company (UIL) to
Protective Life Corporation
Protective Life Corporation is a financial service holding company in Birmingham, Alabama.https://protective.newshq.businesswire.com/sites/protective.newshq.businesswire.com/files/press_kit/file/We_Are_Protective_Life_-_Company_Overview_and_Fina ...
.
In 2012, TMK acquired Family Heritage Life Insurance Company of America (FHL). It was renamed Globe Life Family Heritage Division in 2019.
On February 5, 2014, Torchmark's subsidiary Globe Life purchased the naming rights of
Globe Life Park in Arlington
Choctaw Stadium, formerly Globe Life Park, is an American multi-purpose stadium in Arlington, Texas, between Dallas and Fort Worth. Originally built as a baseball stadium, it was home to the Texas Rangers of Major League Baseball and the Te ...
, formerly Rangers Ballpark in Arlington, the home of
Major League Baseball's Texas Rangers Baseball Club
The Texas Rangers are an American professional baseball team based in the Dallas–Fort Worth metroplex. The Rangers compete in Major League Baseball (MLB) as a member club of the American League (AL) West division. In 2020, the Rangers moved ...
located in
Arlington, TX
Arlington is a city in the U.S. state of Texas, located in Tarrant County. It forms part of the Mid-Cities region of the Dallas–Fort Worth–Arlington metropolitan statistical area, and is a principal city of the metropolis and region. ...
. The naming rights were eventually transferred to
Globe Life Field
Globe Life Field is a retractable roof stadium in Arlington, Texas. It is the home ballpark of Major League Baseball's Texas Rangers. It is located just south of Choctaw Stadium, the Rangers' former home ballpark.
History Background
On May ...
, the Rangers' new home park, alongside extending the naming rights through 2048.
In August 2001, a mutual fund company filed a civil racketeering suit against Torchmark Corp., which accused Torchmark Corp. and its former chief executive of scheming to continue control over Waddell & Reed Financial Inc. after Torchmark spun it off in 1998. However, in a series of orders dated February 20, 2003, August 20, 2004, and September 28, 2004, the United States District Court for the Northern District of Kansas later granted summary judgment against plaintiff Waddell & Reed and in favor of Torchmark and the other defendants named in the action.
On August 8, 2019, Torchmark Corporation was renamed to Globe Life and its ticker symbol changed from "TMK" to "GL".
Subsidiaries
*
Globe Life Liberty National Division, McKinney, Texas
*
Globe Life And Accident Insurance Company
Globe Life, based in McKinney, Texas, provides life and health insurance coverage nationwide, and has earned the A (Excellent) Financial Strength Rating as of June 2020. Globe Life and Accident Insurance Company has executive offices in Oklahoma Ci ...
,
Oklahoma City, Oklahoma
Oklahoma City (), officially the City of Oklahoma City, and often shortened to OKC, is the capital and largest city of the U.S. state of Oklahoma. The county seat of Oklahoma County, it ranks 20th among United States cities in population, an ...
*
United American Insurance Company, McKinney, Texas
*
American Income Life Insurance Company
American Income Life Insurance Company (formerly NASDAQ: AINC), based in Waco, Texas, is an insurance company that provides supplemental life insurance to labor unions, credit unions, and associations. American Income Life (AIL) was founded in ...
,
Waco, Texas
Waco ( ) is the county seat of McLennan County, Texas, United States. It is situated along the Brazos River and Interstate 35, I-35, halfway between Dallas and Austin, Texas, Austin. The city had a 2020 population of 138,486, making it the List ...
*Globe Life Family Heritage Division (previously known as Family Heritage Life Insurance Company of America)
See also
*
List of Texas companies (T)
References
External links
{{Authority control
Companies listed on the New York Stock Exchange
Financial services companies established in 1900
Companies based in McKinney, Texas
1900 establishments in Alabama
Life insurance companies of the United States