On August 8, 2019, Torchmark Corporation will be renamed Globe Life Inc. The underwriting companies owned by the parent company will continue to exist as legal entities.
Our General Agents who sell and service products underwritten by United American Insurance Company (United American) and Globe Life Insurance Company of New York (Globe Life of New York) will continue to operate their business as usual with us after the name of the parent company changes.
To help you understand more about the name change of our parent company, I want to offer some information regarding the reasons for the change and ask you to let us know if you have any questions about this change and how it impacts you and your business.
Our sister company, Globe Life And Accident Insurance Company (Globe Life) and our parent company have been investing in national brand recognition efforts for a few years. As a result, Globe Life’s name recognition has gone from 10% just a few years ago to 32% nationwide, according to Nielsen. In the DFW area, Globe Life is fourth among insurance companies in name recognition at 65%, right behind MetLife, State Farm and Allstate. The Globe Life name is on the Texas Rangers’ ballpark, and as announced July 25, 2019, Globe Life is the Official Life Insurance of the Dallas Cowboys.
Over time, we expect that this name brand recognition and other marketing efforts will help our independent agents grow their business with United American and Globe Life of New York.