Globe Life (GL) Risk Factor Changes

We may not meet expectations relating to corporate responsibility and sustainability standards and practices.

subject us to significant civil and criminal liability, constrain cash flows, or require us to incur significant technical, legal, or other expenses.

Our business is highly dependent upon the internet, third-party service providers, and information systems to operate in an efficient and resilient manner.

The failure to maintain effective information systems or manage responsible use of emerging technologies, including artificial intelligence, could adversely affect our financial condition and results of operations at…

The insurance laws, regulations and policies currently affecting our companies may change at any time, possibly having an adverse effect on our business.

Regulatory authorities also have the power to conduct investigations, and to bring administrative or judicial proceedings against us, which could result in suspension or revocation of our licenses, cease and desist or…

In April 2024, the trading price of our common stock dropped following the publication of certain short seller reports.

Our life and health insurance products are particularly exposed to risks of catastrophic mortality, such as a pandemic or other events that result in a large number of deaths.

We have been the target of several short sellers who have published reports making allegations about the Company, which resulted in a significant decline in the price of our common stock.

In the event that current sources of liquidity do not satisfy our needs, we may have to seek additional financing or raise capital.

were to change its definition of eligible collateral, we could be required to post additional amounts of collateral in the form of cash or other assets.

We are subject to liquidity risks associated with sourcing a concentration of our funding from the FHLB.

Other sources of liquidity include a variety of short-term and long-term instruments, including our credit facility, Pre-Capitalized Trust Securities ("P-CAPS") facility, commercial paper, long-term debt, Federal Home…

The principal sources of our insurance subsidiaries’ liquidity are insurance premiums, as well as investment income, maturities, repayments, and other cash flow from our investment portfolio.

An increase in interest rates could result in certain policyholders surrendering their life or annuity policies for cash, thereby potentially requiring our insurance subsidiaries to liquidate invested assets if other…

Company may be adversely affected by a third-party vendor who operates in a poorly controlled manner or fails to deliver contracted services, which could lower revenues, increase costs, reduce profits, disrupt busines…

The Company utilizes third-party vendors, including independent sales agents, to provide certain business services and functions, which exposes the Company to risks outside of its control.

If we do not provide an attractive career opportunity with competitive compensation as well as motivation for producing agents to increase sales of our products, our growth could be impeded.

be insufficient, we may not be able to successfully obtain additional financing on favorable terms or at all.

not available to meet their obligations.

Any incident affecting confidential information systems resulting from the above factors could damage our reputation in the marketplace, deter potential customers from purchasing our products, result in the loss of ex…

that may result in monetary and legal remedies being imposed against the Company, which could have a material adverse effect on our business, financial condition or results of operations.

transmit, store, and retrieve valuable data.

We use institutional funding agreements originating from FHLB, which from time to time serve as a significant source of our liquidity.

Under an intercompany reinsurance agreement initiated in 2025, we have ceded approximately $1.2 billion of our life statutory reserves from Liberty National Life Insurance Company, Globe Life And Accident Insurance Co…

These alternative investments may not meet regulatory admissibility requirements or may result in increased regulatory capital charges to the insurance subsidiaries that hold these investments, which could limit those…

Over the past several years, we have increased our investment in alternative investments, such as limited partnerships.

Our investment portfolio contains certain alternative investments that may be illiquid and volatile, which could negatively affect our investment income and liquidity.

In addition, a failure to effectively develop new methods of reaching consumers, realize cost efficiencies or generate an attractive value proposition in our Direct to Consumer Division business could result in reduce…