Industry Life insurance Headquarters Syracuse, New York Key people Vern D. Herbel, CEO | Founded 1981 Area served New York | |
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Type Subsidiary of Torchmark Corporation | ||
Globe Life Insurance Company of New York, based in Syracuse, New York, is a subsidiary of United American Insurance Company (UA). The company was previously known as First United American Life Insurance Company, but changed its name to Globe Life Insurance Company of New York on January 1, 2017. The company is a wholly owned subsidiary of Torchmark Corporation (NYSE: TMK), based in McKinney, Texas.
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History
In 1981, as United American, the company became a member of Torchmark Corporation, a financial services holding company listed on the New York Stock Exchange. United American was chartered that year as a result of their business spreading across the United States. First UA wrote its first piece of business in 1986.
For more than 20 consecutive years, First United American earned the A+ (Superior) Financial Rating from A.M. Best Company (as of June 2014).
CEO
Vern D. Herbel began his career with Torchmark's Globe Life And Accident Insurance Company in 1986. He was promoted to Executive Vice President of First United American Life Insurance Company in 2002, then President of First UA in 2004. Since 2004, Herbel held the title as Chief Executive Officer at First UA. He is also the current Chief Administrative Officer and Executive Vice President of Torchmark Corp.