The U.S. Department of Justice has subpoenaed Globe Life Inc. and its subsidiary American Income Life seeking documents related to one of its top life insurance agencies — the Pittsburgh-based Arias Organization.
Globe Life executives made no mention of the DOJ probe during a quarterly earnings call on February 8.
In October, insurance regulators in Pennsylvania fined American Income Life $130,000 for engaging in deceptive consumer practices.
"We do not believe the litigation will be material to Globe Life's overall results or American Income Life's agency operations," he said.
Darden told the analysts that "as soon as American Income became aware of" the allegations, AIL hired an outside investigator to look into the matter.
Persons:
Arias, Renee Zinsky, Michael Russin, Joel Scarborough, Globe's, Trina Orlando, Cathy Seifert, Seifert, Scarborough, Simon Arias, Natalie Price, AIL, Warren Buffett's Berkshire, James Darden, Darden, Zinsky, Janet Hendrick, Phillips Murrah, Kathryn D, Terry, Liz Rita, Susan Antilla
Organizations:
U.S . Department of Justice, Inc, Organization, News, Business, BI, CFRA Research, Securities and Exchange Commission, Globe, DOJ, Scarborough, US, Office, Western, Western District of Pennsylvania, Arias Agencies, The, Justice, Warren, Warren Buffett's Berkshire Hathaway, Commission, Department of Justice, AIL, Income, Zinsky, Law
Locations:
Pittsburgh, Scarborough, Western District, Pennsylvania, Dallas, Globe, Denver, AIL, susan.antilla1@gmail.com