Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Globe Life Inc. (GL) Halal?

FAIL

Globe Life Inc. · NYSE: GL · Financials

The short answer

Globe Life fails this Shariah screener's first gate: its core business is conventional insurance (life, supplemental health, annuities) - an interest-based insurance model. For the record, debt of about $2,625.4M is 20.5% of its ~$12.78 billion market cap, and net investment income of about 18.9% of revenue also exceeds the 5% ceiling.

Gate 1 — Business activity: FAIL

Gate 1 — business activity: FAIL. Globe Life Inc., per its Q4 2025 earnings release (February 2026), is a holding company specializing in life insurance and supplemental health insurance for the middle-income market. FY2025 revenue of $5,994.3 million breaks down as life premium $3,363.5 million, health premium $1,526.8 million, and net investment income $1,130.2 million. Its segments are Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

Conventional insurance is an interest-based insurance business: premiums are pooled and invested, primarily in bonds and other fixed-income instruments, and policy obligations are settled from those returns. This is not a Shariah-compliant business model. (The August 2025 dual listing on NYSE Texas and the $2.5 billion share-repurchase authorization announced August 2026 do not change the business assessment.) Globe Life fails gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS for the record (20.5%, ceiling 33%) — moot, since the company already fails gate 1. Per the December 31, 2025 balance sheet, Globe Life carries short-term debt of $304.7 million and long-term debt of $2,320.8 million, for total debt of about $2,625.4 million.

Against a market capitalization of about $12.78 billion (Finnhub, October 2, 2026), that is about 20.5% — under the 33% ceiling. Cash and cash equivalents of $144.7 million represent about 1.1% of market capitalization. This ratio does not change the overall result.

Gate 3 — Non-compliant income: FAIL

Gate 3 — non-compliant income: FAIL for the record (18.9%, ceiling 5%) — moot, since the company already fails gate 1. Globe Life's Q4 2025 earnings release reports net investment income of $1,130.2 million against total revenue of $5,994.3 million in FY2025 — about 18.9%.

For an insurer, net investment income is not incidental interest — it is core revenue generated from the bond and fixed-income portfolio that backs policy reserves. This ratio also exceeds the 5% ceiling. This does not change the overall result, which is determined by the business-activity gate.

Key figures used

Frequently asked questions

What does Globe Life do?

Globe Life Inc. (NYSE: GL) is a holding company that sells life insurance, supplemental health insurance, and annuities to middle-income US households. Per its Q4 2025 earnings release (February 2026), FY2025 revenue was $5,994.3 million: life premium $3,363.5 million, health premium $1,526.8 million, net investment income $1,130.2 million. It operates through Life Insurance, Supplemental Health Insurance, Annuities, and Investments segments, distributing through direct-to-consumer, exclusive agencies, and independent agencies. It is headquartered in McKinney, Texas.

Is Globe Life's business Shariah compliant?

No - Globe Life fails this screener's first gate. Its core business is conventional insurance: life insurance, supplemental health insurance (including Medicare supplement), and annuities - an interest-based insurance business model. Conventional insurance is not Shariah compliant. Zoya's GL page also flags Globe Life as not Shariah-compliant, consistent with this result.

How much interest-bearing debt does Globe Life have?

For the record, Globe Life's balance sheet at December 31, 2025 shows total debt of about $2,625.4 million (short-term debt $304.7 million plus long-term debt $2,320.8 million). Against a market capitalization of about $12.78 billion (Finnhub, October 2, 2026), that is about 20.5% - under the 33% ceiling. But the company already fails gate 1 on its business activity, so this ratio does not change the result. Cash and cash equivalents of $144.7 million represent about 1.1% of market capitalization.

How much interest income does Globe Life earn?

For the record, Globe Life's Q4 2025 earnings release reports net investment income of $1,130.2 million against total revenue of $5,994.3 million in FY2025 - about 18.9%. Net investment income is core to an insurer's business model (returns on the bond and fixed-income portfolio that backs policy reserves), not incidental interest. This ratio also exceeds the 5% ceiling. But the company already fails gate 1 on its business activity, so this does not change the result.

What do third-party Shariah screeners say about Globe Life?

Zoya's GL page flags Globe Life as not Shariah-compliant (AAOIFI), which is directionally consistent with this screener's business-gate FAIL - the core issue is conventional insurance, not a ratio borderline. I could not verify a Musaffa rating page for GL or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).