Primerica Convention Opens on Heels of Unprecedented Success Serving Middle-Income Families

Rhea-AI Summary

The 2024 Primerica International Convention, hosted by Primerica, a leading financial services provider, kicks off today in Atlanta and will run through July 13. Expected to attract 40,000 attendees, the event will have an estimated economic impact of $46 million on the local economy.

Primerica, which has nearly 146,000 life insurance-licensed representatives, achieved a significant milestone with $951 billion in term life coverage in force. The company has seen a 15% year-to-date increase in new recruits and life insurance-licensed representatives.

Preliminary data shows that client asset values have reached $105 billion as of June 30, 2024, with investment product sales increasing by 25% year-to-date to $5.8 billion. The company has averaged $1.8 billion in death claim payouts annually over the last five years.

The event aims to celebrate Primerica's successes and plan for further growth through its 50th anniversary in 2027.

Positive

• $951 billion in term life coverage in force.
• Nearly 146,000 life insurance-licensed representatives.
• 15% YTD increase in new recruits and licensed representatives.
• Client asset values reached $105 billion.
• Investment product sales up 25% YTD to $5.8 billion.
• $1.8 billion annual average in death claim payouts over five years.
• $46 million estimated economic impact from the convention.

Negative

• None.

Company among top life insurance providers with $951 billion term life coverage in force

DULUTH, Ga.--(BUSINESS WIRE)-- The 2024 Primerica International Convention, Atlanta’s largest corporate meeting with attendees from across the U.S. and Canada, returns to the city starting today through July 13. The event, hosted by Primerica, Inc. a leading provider of financial services and products, is estimated to draw as many as 40,000 members of its sales force with a projected economic impact of $46 million on the local economy.

“After forty-seven record-breaking years, Primerica continues to achieve new levels of success through the sheer number of families we serve, complemented by the unmatched opportunities that exist for our independent sales force,” said Glenn Williams, CEO of Primerica. “Our Convention will celebrate these accomplishments while challenging us to expand the number of middle-income households we help to achieve financial security.”

The four-day event, held at the Georgia World Congress Center and the Mercedes-Benz Stadium, will use the Company’s strong performance to drive sales momentum through 2027, the 50-year anniversary of the Company’s 1977 founding. The size and magnitude of the Convention is significant. The four general sessions will have attendance nearing professional sporting events held at the Mercedes-Benz Stadium, alongside workshops and exhibits.

“As one of Atlanta’s largest conventions, Primerica brings tens of thousands of attendees and millions of dollars to our city,” said William Pate, president and CEO, Atlanta Convention & Visitors Bureau. “From hotels to restaurants and attractions, the economic impact of this convention is felt throughout the region.”

Primerica has grown its sales force to nearly 146K life insurance-licensed representatives, including over 25K representatives who are also securities licensed.

Growth of the sales force has also created momentum across the business. Year-to-date new recruits and new life insurance-licensed representatives are up 15% over the first half of 2023. At the close of the second quarter of 2024, the Company held $951 billion of term life insurance in force on behalf of its clients. As of June 30, 2024, term life face amount issued increased 3% year-to-date. The Company continues to deliver for families and has paid out an average of $1.8 billion in death claims per year over the last five years.

Driven by higher investment products sales and appreciation of client asset values, preliminary production results indicate client asset values reached $105 billion as of June 30, 2024, with investment product sales during the first half of 2024 reaching $5.8 billion, up approximately 25% year-to-date.

The Primerica International Convention will return to Atlanta in 2027, when the Company celebrates its 50^th anniversary.

About Primerica, Inc.

Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial products and services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. Primerica (or the Company) insured approximately 5.7 million lives and had approximately 2.9 million client investment accounts as of December 31, 2023. Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in the United States and Canada in 2023. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240709644632/en/

Public Relations

Gana Ahn, 678-431-9266

gana.ahn@primerica.com

Investor Relations

Nicole Russell, 470-564-6663

nicole.russell@primerica.com

Source: Primerica, Inc.

FAQ

What is the estimated economic impact of the 2024 Primerica International Convention?

The 2024 Primerica International Convention is expected to have a $46 million economic impact on the local economy.

How many attendees are expected at the 2024 Primerica International Convention?

The 2024 Primerica International Convention is expected to attract 40,000 attendees.

How much term life coverage does Primerica have in force as of 2024?

Primerica has $951 billion in term life coverage in force as of 2024.

What is the year-to-date increase in new recruits and life insurance-licensed representatives for Primerica in 2024?

Primerica has seen a 15% year-to-date increase in new recruits and life insurance-licensed representatives in 2024.

What are Primerica's client asset values as of June 30, 2024?

As of June 30, 2024, Primerica's client asset values reached $105 billion.

How much have Primerica's investment product sales increased in 2024?

Primerica's investment product sales have increased by 25% year-to-date in 2024, reaching $5.8 billion.

How much has Primerica paid out in death claims annually over the last five years?

Primerica has paid out an average of $1.8 billion in death claims annually over the last five years.