April 30 (Reuters) - Life and supplemental health insurance firm Globe Life GL.N missed Wall Street estimates for first-quarter profit on Wednesday, as lower-than-expected underwriting income weighed on earnings, pushing its shares down 4.7% in extended trading.
Insurance products can help customers reduce the risk of financial instability and rising costs of living. Life insurance products have seen higher demand in the post-pandemic era, amid heightened consumer awareness of coverage needs.
Technological advancements and digital distribution channels have also made access to insurance policies easier for younger demographics, supporting sustained growth in the insurance sector.
However, deteriorating consumer sentiment amid an increasingly uncertain macroeconomic outlook and looming inflationary pressures from U.S. President Donald Trump's trade war with China could dampen discretionary consumer spending.
Globe Life's insurance underwriting income was $336.3 million for the quarter ended March 31, up 4% from the year-ago period. Analysts, on average, were expecting $374.2 million, according to data compiled by LSEG.
Its net investment income shrank 1% in the quarter compared to the previous year.
The McKinney, Texas-based company's net operating income per share was $3.07 in the quarter, missing analysts' estimate of $3.25 per share.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Alan Barona)
((Ateev.Bhandari@thomsonreuters.com))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。