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Life Insurance: capital spending and supply chain

SIC 6311 · 5 companies with filed cash-flow statements

Capital spending, 12 months$144M
Operating cash flow$4.4B
Capex / cash flow3%
Capex / revenue0.0%
Top 3 share100%

Analysis

5 companies in Life Insurance (SIC 6311) spent $144M on capital projects over their latest twelve months, 3% of the $4.4B their operations generated; the three largest spenders — GL, ANG-PD, CIA — account for 100%.

Capital spending is 0.0% of the industry's $349.9B of annual revenue.

By the industry's asset mix most of it goes to software (72%); about $17.3M is imported.

The largest supplier of that spending is software publishers ($51.3M).

Its largest supplying industries, by the input-output tables: insurance agencies, brokerages, and related activities ($19.9B), insurance carriers, except direct life ($6.3B), other real estate ($2.1B).

Charts

Life Insurance: capital spending by company, latest twelve monthsLife Insurance: capital spending by company, latest twelve monthsGL$76.9MANG-PD$66.0MCIA$997KUS Alliance$27KTexas Republic Capital$5K
Filed cash-flow statements (SEC XBRL).
Life Insurance: what the capital spending buys (US part)Life Insurance: what the capital spending buys (US part)Structures$7.3MEquipment$15.1MSoftware$91.6MOther$13.0M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Life Insurance: the industries that build and sell what it buysLife Insurance: the industries that build and sell what it buysSoftware publishers$51.3MCustom computer programming servi…$18.7MComputer systems design services$18.0MOffice and commercial structures$7.3MAircraft manufacturing$6.1MData processing, hosting, and rel…$2.8MAircraft engine and engine parts …$2.1MManagement of companies and enter…$1.7MOffice furniture and custom archi…$1.7MLight truck and utility vehicle m…$1.3M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Life Insurance: its first-tier supplying industriesLife Insurance: its first-tier supplying industriesInsurance agencies, brokerages, a…$19.9BInsurance carriers, except direct…$6.3BOther real estate$2.1BLegal services$1.4BAccounting, tax preparation, book…$954MImports$824MManagement of companies and enter…$701MInternet publishing and broadcast…$646MAdvertising, public relations, an…$591MComputer systems design services$467M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Life Insurance: where the industry's cash came from (+) and went (−)Life Insurance: where the industry's cash came from (+) and went (−)Other investing (out)−$169.7BOther financing (in)$125.8BOperating cash flow$60.7BBuybacks−$9.8BCash added to the balance she…−$7.5BDividends−$6.8BCash drawn from the balance s…$5.8BNot reconciled (in)$2.9BNet borrowing$2.9BOther financing (out)−$2.7BOperating cash outflow−$1.5BPartners' money in$534MNet debt repaid−$478MShares issued$286M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
GL Globe Life$76.9M$1.4B5%TTM to Q3 2026
ANG-PD American National Group$66.0M$3.0B2%TTM to Q2 2026
CIA Citizens$997K$22.1M5%TTM to Q3 2026
US Alliance$27K$8.8M0%TTM to Q2 2026
Texas Republic Capital$5K$436K1%TTM to Q2 2026

Customers and suppliers named in annual reports

SupplierCustomerShare of supplier revenueEvidenceSource
GNWACT22%Stated in 10-K (sentence)filing
ACTGNW—Stated in 10-K (named, share not stated)filing
METMetropolitan Life Insurance Co—Stated in 10-K (named, share not stated)filing

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.