Globe Life Inc. (GL) Q3 2022 Earnings Call Transcript

Globe Life Inc. (NYSE:GL) Q3 2022 Earnings Conference Call October 27, 2022 11:00 AM ET

Company Participants

Mike Majors - Investor Relations

Gary Coleman - Co-Chief Executive Officer

Larry Hutchison - Co-Chief Executive Officer

Frank Svoboda - Chief Financial Officer

Matt Darden - Chief Strategy Officer

Brian Mitchell - General Counsel

Conference Call Participants

Jimmy Bhullar - JPMorgan

Wilma Burdis - Raymond James

John Barnidge - Piper Sandler

Erik Bass - Autonomous Research.

Ryan Krueger - KBW

Andrew Kligerman - Credit Suisse

Tom Gallagher - Evercore

Operator

Hello and welcome to the Q3 2022 Globe Life Inc. Earnings Call. My name is Jess and I will be your coordinator for today’s event. [Operator Instructions] I will now hand over to your host, Mike Majors, to begin today’s call. Thank you.

Mike Majors

Thank you. Good morning, everyone. Joining the call today are Gary Coleman and Larry Hutchison, our Co-Chief Executive Officers; Frank Svoboda, our Chief Financial Officer; Matt Darden, our Chief Strategy Officer; and Brian Mitchell, our General Counsel.

Some of our comments or answers to your questions may contain forward-looking statements that are provided for general guidance purposes only. Accordingly, please refer to our earnings release, 2021 10-K and the subsequent Forms 10-Q on file with the SEC. Some of our comments may also contain non-GAAP measures. Please see our earnings release and website for discussion of these terms and reconciliations to GAAP measures.

I will now turn the call over to Gary Coleman.

Gary Coleman

Thank you, Mike and good morning everyone. Before we get into the third quarter results, I want to note our separate announcement yesterday that Frank Svoboda and Matt Darden have been appointed as Co-CEOs effective January 1, 2023. Gary and I will continue to serve as Co-Chairman of the Board. We are very pleased to hand the rights over to Frank and Matt. You may recall that in April of this year, we appointed them to the newly created title of Senior Executive Vice President to reflect their significant contributions and leadership.

As noted in the announcement, Frank and Matt bring a vast range of experience and skill sets to the company. Yesterday’s announcement is the conclusion of a long-planned succession strategy that is a result of a thoughtful and deliberate process undertaken by the board. We believe this outcome best positions Globe Life for the next chapter of growth and value creation, while ensuring that our executive leadership structure continues in a way that allows us to best serve all our stakeholders, including our employees, agents, policyholders, as well as our shareholders. Larry and I, along with the Board, look forward to this transition.