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Primerica, Inc. (symbol: PRI) is a leading provider of financial services dedicated to helping middle-income families achieve financial independence. Founded in 1977, Primerica revolutionized the life insurance industry with its 'buy term and invest the difference' philosophy. This approach encourages families to purchase affordable term life insurance, allowing them to allocate more funds toward investments for their future.
Primerica's commitment extends beyond life insurance to address the critical issue of household debt. The company offers comprehensive solutions designed to help families eliminate debt and boost their savings. Operating in the U.S., Canada, and Puerto Rico, Primerica serves over 6 million clients with the support of more than 100,000 licensed representatives and 24,000 licensed mutual fund representatives, making it the largest sales force in North America.
The company's primary subsidiaries include Primerica Financial Services, specializing in marketing, Primerica Life Insurance Company, the principal life insurance underwriting entity, and PFS Investments, which provides investment and savings products, brokerage services, and registered investment advisory.
Primerica operates through four main segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products. The majority of its revenue is derived from operations in the United States. Securities clients under Primerica have nearly $25 billion in assets under management, and in 2008, the company placed in force more than $90 billion in life insurance.
With its steadfast focus on financial empowerment, Primerica continues to support families in reaching their financial goals through innovative products and dedicated service.
Primerica, Inc. (NYSE:PRI) will host a webcast on August 9, 2022, at 9:00 a.m. Eastern time to discuss its financial results for the quarter ended June 30, 2022. A news release detailing these results will be issued after market close on August 8, 2022. The earnings release and financial supplement will be accessible via the Primerica Investors website. As of December 31, 2021, Primerica insured over 5.7 million lives and managed over 2.7 million client investment accounts.
PFSL Fund Management Ltd. announced that as of July 6, 2022, its Primerica Concert™ Allocation Series of Funds will open for limited trading, exclusively for existing investors. The funds, managing over $4.6 billion in assets, will accept pre-authorized purchases, redemptions, and client-directed trades at their discretion. PFSL will continue active management with a focus on achieving superior performance. LifeWorks Investment Management Ltd. and AGF Investments Inc. will assist in asset allocation and daily trades, respectively.
Primerica, Inc. announced its upcoming International Convention in Atlanta from June 29 to July 2, projected to host 35,000 attendees and generate an economic impact of $36 million. This significant corporate gathering will highlight the company’s achievements under the theme “Decade of Dominance.” The event promises workshops, inspiring speakers, and exhibits, showcasing Primerica's dedication to helping middle-income families with financial education and services. Primerica aims to hold the convention again in 2024.
Primerica, Inc. (NYSE:PRI) has been named to the Fortune 1000 list for the third consecutive year, ranking 895 with approximately
Primerica, Inc. (NYSE:PRI) has elected
Primerica reported financial results for Q1 2022 with total revenues rising 8% to $691.2 million year-over-year. However, net income fell 17% to $81.4 million, and diluted EPS declined 16% to $2.06. Life-licensed sales force grew to 130,206, and Term Life net premiums increased 9%. The Investment and Savings Products segment saw sales of $3.1 billion, up 7%. The Senior Health segment faced challenges, resulting in a pre-tax operating loss of $19 million. Primerica declared a dividend of $0.55 per share and repurchased $99 million of common stock during the quarter.
Primerica, Inc. (NYSE:PRI) will host a webcast on May 6, 2022, at 9:00 a.m. Eastern time to discuss its financial results for the quarter ending March 31, 2022. The earnings release will be published after market close on May 5, 2022. The webcast and financial documents will be accessible on the Primerica Investors website. As of December 31, 2021, Primerica insured over 5.7 million lives and managed over 2.7 million investment accounts.
Primerica reported strong financial results for Q4 2021, with total revenues of $724.1 million, a 21% increase from Q4 2020. The adjusted operating EPS rose 20% to $2.94. However, a goodwill impairment charge of $76 million in the Senior Health segment impacted net income, leading to EPS of $0.87. Sales in Investment and Savings Products grew 46%, with net inflows of $1.2 billion. The life-licensed sales force numbered 129,515. The Board also announced a $50 million increase to the share repurchase program.
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