(Reuters) -Life insurance company Globe Life reported a rise in third-quarter profit on Wednesday, helped by a strong underwriting performance and higher investment income.
Spending on insurance has stayed strong as consumer confidence remains high, supported by flexible products and innovation in services, alongside easing macroeconomic conditions.
The company's insurance underwriting income grew 39% in the quarter ended September 30, reaching $6.13 per share. Its life underwriting margin increased 24% over the year-ago quarter.
The insurer's shares, which have gained about 22% so far in 2025, were up 2.5% in trading after the bell.
A strong market in the third quarter also helped investment portfolios at major insurers. Insurers, including Globe Life, typically invest a portion of their capital across various asset classes such as fixed-income securities and equities, generating returns that tend to align with broader market trends.
The McKinney, Texas-based company's net investment income came in at $286 million, compared with $285 million in the year-ago quarter.
Globe Life's net operating income came in at $394.2 million, or $4.81 per share, in the three months, compared with $307.9 million, or $3.49 per share, in the year-ago period.
(Reporting by Pritam Biswas in Bengaluru; Editing by Maju Samuel)
