Torchmark
Encyclopedia
Torchmark Corporation founded in 1900 in Birmingham
, Alabama
and based in McKinney, Texas
, is a financial services holding company listed on the New York Stock Exchange which operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. The Company markets these insurance products using multiple distribution channels, which include direct response, exclusive Agency, and independent systems. The company maintains a large operation in McKinney, Texas.
, was founded in 1900 as the Heralds of Liberty, a fraternal benefit society. The Company was headquartered in Birmingham, Alabama until 2006 when it moved to McKinney, Texas.
In 1980, Liberty National acquired Globe Life And Accident Insurance Company
and formed the holding company, Torchmark Corporation.
In 1981, Torchmark acquired United Investors Life Insurance Company
(UIL).
In 1981, Torchmark acquired United American Insurance Company
(UA).
In 1992, Torchmark was added to the S&P 500 Index of the largest publicly traded companies in the United States.
In 1994, Torchmark acquired American Income Life Insurance Company
(AIL).
In 2010, Torchmark sold United Investors Life Insurance Company
(UIL) to Protective Life Corporation.
Current Chairman and CEO
Mark S. McAndrew is the current chairman and CEO of Torchmark. He has been the chairman since February 2006 and CEO since August 2005. Mr. McAndrew has been employed within the Company for more than 30 years in a number of positions and areas with a focus on internal auditing, direct response marketing, and sales and corporate administration. He has served in a variety of senior executive positions at all of the Company's subsidiaries, including President and Chief Executive Officer of Globe, United American, and American Income.
Birmingham, Alabama
Birmingham is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area, in estimate by the U.S...
, Alabama
Alabama
Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland...
and based in McKinney, Texas
McKinney, Texas
McKinney is a city in and the county seat of Collin County, Texas, United States, and the second in population to Plano. According to the U.S. Census Bureau, the city's 2010 population was 131,117 The Census Bureau listed McKinney as the nation's fastest growing city from 2000 to 2003 and again in...
, is a financial services holding company listed on the New York Stock Exchange which operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. The Company markets these insurance products using multiple distribution channels, which include direct response, exclusive Agency, and independent systems. The company maintains a large operation in McKinney, Texas.
Subsidiaries
- Liberty National Life Insurance CompanyLiberty National Life Insurance CompanyLiberty National Life Insurance Company , located in McKinney, Texas, has been providing life and supplemental health insurance for more than 100 years. LNL provides individual coverage through home and workplace sales. LNL is licensed in 49 states with thousands of Sales Agents and Managers in...
, McKinney, TexasMcKinney, TexasMcKinney is a city in and the county seat of Collin County, Texas, United States, and the second in population to Plano. According to the U.S. Census Bureau, the city's 2010 population was 131,117 The Census Bureau listed McKinney as the nation's fastest growing city from 2000 to 2003 and again in...
- Globe Life And Accident Insurance CompanyGlobe Life And Accident Insurance CompanyGlobe Life And Accident Insurance Company based in Oklahoma City, Oklahoma, provides life and health insurance coverage nationwide. Globe was founded in 1951. The Company’s executive offices are housed in Oklahoma City and now include more than 3.8 million policyholders . The Company has more than...
, Oklahoma City, OklahomaOklahoma City, OklahomaOklahoma City is the capital and the largest city in the state of Oklahoma. The county seat of Oklahoma County, the city ranks 31st among United States cities in population. The city's population, from the 2010 census, was 579,999, with a metro-area population of 1,252,987 . In 2010, the Oklahoma...
- United American Insurance CompanyUnited American Insurance CompanyUnited American Insurance Company , based in McKinney, Texas, provides supplemental life, health, and accident coverage. UA was founded in 1947. Today, UA operates in 49 states, the District of Columbia, and has more than 850 people working in the Home Office...
, McKinney, TexasMcKinney, TexasMcKinney is a city in and the county seat of Collin County, Texas, United States, and the second in population to Plano. According to the U.S. Census Bureau, the city's 2010 population was 131,117 The Census Bureau listed McKinney as the nation's fastest growing city from 2000 to 2003 and again in...
- First United American Life Insurance CompanyFirst United American Life Insurance CompanyFirst United American Life Insurance Company , based in Syracuse, New York, is a subsidiary of United American Insurance Company . First UA was founded more than 20 years ago...
, Syracuse, New YorkSyracuse, New YorkSyracuse is a city in and the county seat of Onondaga County, New York, United States, the largest U.S. city with the name "Syracuse", and the fifth most populous city in the state. At the 2010 census, the city population was 145,170, and its metropolitan area had a population of 742,603...
- American Income Life Insurance CompanyAmerican Income Life Insurance CompanyAmerican Income Life Insurance Company based in Waco, Texas, provides supplemental life insurance to labor unions, credit unions, and associations. American Income Life was founded in 1951. The company’s executive offices have been located in Waco, Texas, since 1959...
, Waco, TexasWaco, TexasWaco is a city in and the county seat of McLennan County, Texas. Situated along the Brazos River and on the I-35 corridor, halfway between Dallas and Austin, it is the economic, cultural, and academic center of the 'Heart of Texas' region....
- National Income Life Insurance CompanyNational Income Life Insurance CompanyNational Income Life Insurance Company , based in Liverpool, New York, provides supplemental life insurance to members of labor unions, credit unions, and associations. NILICO has State General Agents who have offices across New York state to serve working families throughout the Empire State. A.M...
, Liverpool, New YorkLiverpool, New YorkLiverpool is a village located in Onondaga County, New York, United States. The population was 2,505 at the 2000 census. The name was adopted from the city of Liverpool in the United Kingdom...
History
The original core of Torchmark, Liberty National Life Insurance CompanyLiberty National Life Insurance Company
Liberty National Life Insurance Company , located in McKinney, Texas, has been providing life and supplemental health insurance for more than 100 years. LNL provides individual coverage through home and workplace sales. LNL is licensed in 49 states with thousands of Sales Agents and Managers in...
, was founded in 1900 as the Heralds of Liberty, a fraternal benefit society. The Company was headquartered in Birmingham, Alabama until 2006 when it moved to McKinney, Texas.
In 1980, Liberty National acquired Globe Life And Accident Insurance Company
Globe Life And Accident Insurance Company
Globe Life And Accident Insurance Company based in Oklahoma City, Oklahoma, provides life and health insurance coverage nationwide. Globe was founded in 1951. The Company’s executive offices are housed in Oklahoma City and now include more than 3.8 million policyholders . The Company has more than...
and formed the holding company, Torchmark Corporation.
In 1981, Torchmark acquired United Investors Life Insurance Company
United Investors Life Insurance Company
United Investors Life Insurance Company , based in Birmingham, Alabama, provides individual life insurance and annuity products. United Investors was founded in 1961. UILIC has more than $14 billion of insurance in force . There are more than 150,000 polices in force and more than 1,400 licensed...
(UIL).
In 1981, Torchmark acquired United American Insurance Company
United American Insurance Company
United American Insurance Company , based in McKinney, Texas, provides supplemental life, health, and accident coverage. UA was founded in 1947. Today, UA operates in 49 states, the District of Columbia, and has more than 850 people working in the Home Office...
(UA).
In 1992, Torchmark was added to the S&P 500 Index of the largest publicly traded companies in the United States.
In 1994, Torchmark acquired American Income Life Insurance Company
American Income Life Insurance Company
American Income Life Insurance Company based in Waco, Texas, provides supplemental life insurance to labor unions, credit unions, and associations. American Income Life was founded in 1951. The company’s executive offices have been located in Waco, Texas, since 1959...
(AIL).
In 2010, Torchmark sold United Investors Life Insurance Company
United Investors Life Insurance Company
United Investors Life Insurance Company , based in Birmingham, Alabama, provides individual life insurance and annuity products. United Investors was founded in 1961. UILIC has more than $14 billion of insurance in force . There are more than 150,000 polices in force and more than 1,400 licensed...
(UIL) to Protective Life Corporation.
Presidents and CEOs
Former Presidents and CEOs- Frank P. Samford, Junior
- President 1967-1982 CEO 1967-1985
- Ronald K. RicheyRonald K. RicheyRonald K. Richey was the chairman, president and chief executive officer of the Torchmark Corporation .-Family and education:...
- President 1982-1986 CEO 1984-1998
- C.B Hudson
- President 1998-2000 CEO and Chairman 1998-2005
Current Chairman and CEO
Mark S. McAndrew is the current chairman and CEO of Torchmark. He has been the chairman since February 2006 and CEO since August 2005. Mr. McAndrew has been employed within the Company for more than 30 years in a number of positions and areas with a focus on internal auditing, direct response marketing, and sales and corporate administration. He has served in a variety of senior executive positions at all of the Company's subsidiaries, including President and Chief Executive Officer of Globe, United American, and American Income.