| Type | Subsidiary of Torchmark Corporation |
|---|---|
| Industry | Life insurance |
| Founded | 1951 |
| Founder(s) | Ralph Reece John Singletary |
| Headquarters | Oklahoma City, Oklahoma |
| Area served | United States |
| Key people | Charles F. Hudson, President and CEO |
| Products | supplemental health and life insurance |
| Website | http://www.globeontheweb.com |
Globe Life And Accident Insurance Company based in Oklahoma City, Oklahoma, provides life and health insurance coverage nationwide. Globe was founded in 1951. The Company’s executive offices are housed in Oklahoma City and now include more than 3.8 million policyholders (as of 12/09). The Company has more than $57 billion of insurance in force with $2.8 billion in assets (as of 6/22/10). The Company is a wholly owned subsidiary of Torchmark Corporation (NYSE: TMK), based in McKinney, Texas.[1]
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In 1951, the Company was chartered by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. Globe originally sold inexpensive but dependable life insurance protection to rural Oklahoma communities. Since 1951, Globe Life has grown in financial strength and reputation, consistently receiving high industry ratings. Today, Globe Life markets primarily through direct mail operation. Globe Life has earned the A+ (Superior) Financial Strength Rating (as of 6/10) from A.M. Best Company, insurance analysts since 1899. Globe has had an A+ (Superior) rating or higher since 1991.
In 1972, Globe Life And Accident Insurance Company discovered a need for civil service employees to supplement their life insurance benefits. As a result, Globe Life formed its Employee Services Division (ESD) to service the Government marketplace at the state and Federal levels, and has developed special life and health insurance products to continually meet those needs. Through Globe's supplemental insurance program, Government members and their families can purchase Ordinary Life or Term insurance protection designed to pick-up where their Federal Employee Government Life Insurance, or FEGLI, leaves off.[2]
Charles F. Hudson was the Senior Vice President of Globe Life August 2001 through August 2005. He became President and CEO in August 2005.[3]