||A major contributor to this article appears to have a close connection with its subject. (June 2012)|
|Traded as||NYSE: TMK
S&P 500 Component
|Founded||1900 in Birmingham, Alabama|
|Key people||Mark S. McAndrew, Chairman Gary Coleman and Larry Hutchison, Co-CEOs|
|Net income||$518 million (as of 12/31/11)|
Torchmark Corporation, founded in 1900 in Birmingham, Alabama and based in McKinney, Texas, is a financial services holding company listed on the New York Stock Exchange which operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. Torchmark Corporation markets insurance products using multiple distribution channels, which include direct response, exclusive Agency, and independent systems. The company maintains a large operation in Birmingham, Alabama.
In August 2001, a mutual fund company filed a civil racketeering suit against Thorchmark Corp., which accused Torchmark Corp. and its former chief executive of scheming to continue control over Waddell & Reed Financial Inc. after Torchmark spun it off in 1998.
The original core of Torchmark, Liberty National Life Insurance Company, was founded in 1900 as the Heralds of Liberty, a fraternal benefit society. Liberty National was headquartered in Birmingham, Alabama until 2006 when it moved to McKinney, Texas.
In 1992, Torchmark was added to the S&P 500 Index of the largest publicly traded companies in the United States.
Presidents and CEOs
Former presidents and CEOs
- Frank P. Samford, Junior
- President 1967–1982 CEO 1967–1985
- President 1982–1986 CEO 1984–1998
- C.B Hudson
- President 1998–2000 CEO and Chairman 1998–2005
- Mark S. McAndrew
- President 2005–2012
Current chairman and CEOs
Torchmark Chairman and CEO, Mark S. McAndrew, stepped down on June 1, 2012, as CEO, after 32 years of dedicated service to Torchmark. McAndrew continued to serve in an executive capacity as Chairman through June 1, 2013.
The Torchmark Board of Directors appointed Gary L. Coleman, Torchmark's Executive Vice President and Chief Financial Officer, and Larry M. Hutchison, Torchmark's Executive Vice President and General Counsel, as Co-CEOs effective June 1, 2012.
Also effective June 1, 2012, Frank Svoboda, Vice President and Director of Tax for Torchmark, was appointed Executive Vice President and Chief Financial Officer, and Robert Brian Mitchell, Senior Vice President and General Counsel of each of Torchmark's insurance subsidiaries, was appointed Executive Vice President and General Counsel.
- Best's Insurance Reports Life/Health United States & Canada 2008 Edition Volume II.
- "Spinoff company sues for racketeering".
- Best's Insurance Reports Life/Health United States & Canada 2008 Edition Volume I