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Globe Life GL Annuity — Deferred Policy Acquisition Costs

Discontinued — last reported Q4 '18

Similar metrics at other companies

American Financial Group logo
AFGAnnuity — Deferred policy acquisition costs
$287M-58.8%
American Financial Group logo
AFGAnnuity — Amortization of deferred policy acquisition costs
$61.75M+24.7%
Prudential Financial logo
PRUIndividual Annuities — Deferred Policy Acquisition Costs
$3.63B-22.6%
Prudential Financial logo
PRUAnnuities — Deferred Policy Acquisition Cost
$2.25B-9.8%
Principal Financial Group logo
PFGDeferred Fixed Annuity — Deferred Policy Acquisition Costs
$62.8M-21.3%
American Financial Group logo
AFGAnnuity and Run-off — Deferred Policy Acquisition Cost
$1.17B-10.2%

Other financials

Income statement

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Revenue$1.6B+5.3%
Net income$270.5M+6.3%
EPS (diluted)$3.39+12.6%

Balance sheet

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Cash & equivalents$255.2M+9.9%
Total debt$3.2B-1.3%
Total equity$6.1B+12.1%
Total assets$31.0B+4.2%

Cash flow

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Operating cash flow$420.9M-2.5%
CapEx$24.9M+112%
Free cash flow$396.0M-5.7%

Valuation

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Market cap$13.26B-0.4%
Enterprise value$16.24B-0.8%
P/E11.3×-1.2×
P/S2.2×-0.1×

Profitability

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Net margin19.4%+1.0pp
FCF margin20.2%-3.9pp

Returns & leverage

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Return on equity20.5%0.0pp
Debt / equity0.5×-0.1×

Where this comes from

Reported directly by Globe Life in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The official record: Globe Life’s 10-K, filed March 1, 2019, on SEC EDGAR. View the filing →

Questions, answered.

What does annuity — deferred policy acquisition costs mean?
The unamortized balance of costs spent to acquire annuity business.
How do you interpret annuity — deferred policy acquisition costs?
A growing balance suggests active new business acquisition, while a shrinking balance may indicate slowing sales or high amortization.
How does annuity — deferred policy acquisition costs compare across companies?
Standard GAAP asset metric for life and annuity insurance companies.