Globe Life said its newly formed subsidiary, Globe Life Re, has been licensed in Bermuda and is now operational, marking the group’s formal entry into offshore reinsurance.
The Bermuda-based entity will write affiliated quota share reinsurance, taking a proportional share of risk on selected policies issued by Globe Life’s insurance subsidiaries.
The company said all transactions will be conducted on an arm’s-length basis and subject to appropriate regulatory and internal oversight. Clean structure. No shortcuts.
Globe Life confirmed that its first reinsurance transaction has already been completed in line with the approved business plan, though it did not disclose counterparties, cession levels, or financial impact. The company did not immediately respond to follow-up questions.
According to Beinsure analysts, the move fits a familiar pattern among U.S. life insurers. Captive-style reinsurance vehicles in Bermuda offer capital flexibility, earnings smoothing, and balance sheet efficiency, provided governance holds and pricing stays disciplined. Bermuda remains the venue of choice for that trade.
The launch follows earlier disclosures that Globe Life had submitted a preliminary business plan to the Bermuda Monetary Authority.
In July, 2025, Globe Life has submitted a preliminary business plan to the Bermuda Monetary Authority (BMA) to establish a reinsurance affiliate later this year.
The company intends for the new reinsurer to assume a share of both newly issued and existing life insurance policies underwritten by Globe Life’s subsidiaries.
A revised proposal and formal licensing application will follow in Q3 2025, with the first transaction expected before year-end.
CFO Thomas Kalmbach stated the affiliate could eventually take on up to 25% of Globe Life’s life reserves. However, the parent company does not expect any material cash flow benefit from the new entity before 2027. Over time, annual returns could reach $200 mn.
Kalmbach cited Bermuda’s economic capital framework as better aligned with the company’s long-term growth targets in premiums and policy sales.
Globe Life is headquartered in McKinney, TX, and has more than 16,000 insurance agents and 3,600 corporate employees. With a mission to Make Tomorrow Better, Globe Life and its subsidiary companies issue more life insurance policies and have more policyholders than any other life insurance company in the country, with more than 17 mn policies in force.
