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Slide #45. Torchmark Corporation — Family Heritage Life Insurance Company of America
Torchmark Corporation (TMK)
Family Heritage Life Insurance Company of America
Torchmark Corporation announce that it closed the previously announced purchase of Family Heritage Life Insurance Company of America (Family Heritage), a privately-held supplemental health insurance provider, on November 1, 2012 for approximately $232 million, subject to final post-closing adjustments. This transaction is expected to be immediately accretive to net operating earnings per share with minimal impact, if any, on Torchmark's free cash flow available for stock repurchases or the RBC ratios of the insurance subsidiaries.
Globe Life is an insurance holding company. Through its wholly-owned subsidiaries, Co. provides a variety of life and supplemental health insurance products and annuities to customers. Co.'s segments are: life insurance, which writes a variety of nonparticipating ordinary life insurance products including whole-life insurance, term life insurance, and other life insurance; health insurance, which provides Medicare Supplement and limited-benefit supplemental health insurance products that include primarily critical illness and accident plans; annuity, which includes single-premium and flexible-premium deferred annuities; and investment.
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