The embattled insurer Globe Life and its subsidiary American Income Life face new allegations of fraud, kickbacks, and misclassifying its army of sales agents. The charges appear in a new report from Viceroy Research, the third scathing short-seller report on Globe. It comes on the heels of short-sale recommendations by Orso Partners’ Nate Koppikar and the anonymous trader Fuzzy Panda earlier this year. Globe said the Viceroy report is “deliberately false, misleading and defamatory.” You can read today’s story here.
Tag Archives: insurance regulation
Globe Life’s stock crashed amid federal probes. Here’s everything you need to know
Here’s an update on developments with Globe Life, its subsidiary American Income Life, and Globe’s star agency The Arias Organization.
Short-seller sends Globe Life shares plunging 53% as insurance giant calls report ‘defamatory,’ threatens legal action
Shares of insurance giant Globe Life Inc. plunged 53% today and trading was halted eight times after a short-seller issued a damning narrative on the company.
In a 36-page investigative report, Fuzzy Panda Research described “extensive allegations of insurance fraud” at Globe’s wholly-owned subsidiary American Income Life, repeatedly citing my coverage for Business Insider. Continue reading
Department of Justice opens probe of Globe Life, American Income Life
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, according to an internal Globe document. In my Business Insider articles published in 2023, former agents described a culture at Arias of customer abuses and sexual harassment, including multiple allegations of sexual assault on the job. Continue reading