Globe Life Receives Clearance from DOJ Investigation, Expands Life Insurance Presence

Globe Life Inc. (GL) has been cleared by the Department of Justice after an investigation into its sales practices. The investigation focused on the sales practices of independent agents contracted by American Income Life (AIL), a subsidiary of Globe Life. The investigation has been closed with no enforcement actions, allowing Globe Life to focus on its core mission of issuing life insurance policies. Globe Life holds over 17 million active life insurance policies and has a workforce of 3,600 corporate employees.

Globe Life Inc. (NYSE: GL) has been cleared by the Department of Justice following a comprehensive investigation into its sales practices. The investigation, which focused on the sales practices of independent agents contracted by American Income Life (AIL), a subsidiary of Globe Life, has concluded without any enforcement actions being taken against the company [1].

The U.S. Attorney's Office for the Western District of Pennsylvania notified Globe Life and AIL that it has closed its investigation, indicating that no further action will be taken against either company. The investigation had previously involved subpoenas seeking documents related to the sales practices of certain independent sales agents contracted to sell AIL policies [2].

Globe Life, headquartered in McKinney, Texas, employs over 16,000 insurance agents and 3,600 corporate employees. With a mission to "Make Tomorrow Better," the company issues more life insurance policies and has more policyholders than any other life insurance company in the country, with over 17 million policies in force (excluding reinsurance companies; as reported by S&P Global Market Intelligence 2024) [3].

The closure of the investigation allows Globe Life to continue focusing on its core mission of issuing life insurance policies. The company's insurance subsidiaries include American Income Life Insurance Company, Family Heritage Life Insurance Company of America, Globe Life And Accident Insurance Company, Liberty National Life Insurance Company, and United American Insurance Company [3].

References:

[1] https://www.morningstar.com/news/pr-newswire/20250728da39197/globe-life-announces-closing-of-department-of-justice-investigation
[2] https://www.stocktitan.net/news/GL/globe-life-announces-closing-of-department-of-justice-3hdjn03g8z5g.html
[3] https://www.marketscreener.com/news/globe-life-announces-closing-of-department-of-justice-investigation-ce7c5fd8d081f722