Business ModelGlobe's unique business model, which includes captive agent distribution and a focus on lower-/middle-income consumers, helps insulate it from severe competitive pressures.
Financial PerformanceFree cash flow conversion is beginning to improve after being pressured over the past decade, with 2025 guidance implying conversion above 50%.
Growth ProspectsGrowth is expected to largely remain intact and should allow GL to continue to produce EPS growth above most life insurance peers.
ValuationGL's estimated forward free cash flow yield is approximately 5.5% on a normalized basis, which is attractive relative to historical levels.