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Torchmark's CEO Presents At BAML 2012 Insurance Conference (Transcript)

Torchmark Corporation (TMK)

Bank of America Merrill Lynch 2012 Insurance Conference

February 16, 2012 - 11:45 a.m. ET


Mark S. McAndrew – Chairman and Chief Executive Officer

Gary L. Coleman – Executive Vice President and Chief Financial Officer


Edward Spehar – Bank of America Merrill Lynch


Edward Spehar – Bank of America Merrill Lynch

Our next presenter is Torchmark. We're very happy to have Mark McAndrew, CEO; and Gary Coleman, CFO, with us today to tell us the Torchmark story. As I mentioned this morning, there's a lot of focus in our new primer about cash flow, transparency of cash flow, return of cash to shareholders. And any of those measures, when you look historically, there's one company that is at the top of the list, and that's Torchmark.

So I'm going to pass it to Mark for an update on the TMK story.

Mark S. McAndrew

Thanks Ed. Well, first off, I've been told by my General Counsel that I have to share this slide. So everybody can read that real quick, but good morning, everybody.

Torchmark was formed back in 1980 when Liberty National Life from Birmingham, Alabama acquired Globe Life out of Oklahoma City. For the first 15 years of our existence, we grew rapidly, both internally as well as through acquisition. The company also became much more diverse as we acquired a mutual fund company, started an oil and gas subsidiary, a real estate development company, as well as a major expansion of our property and casualty subsidiary.

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