Primerica Senior Field Leaders Convene to Cast Vision for Growth at 2025 Leadership Meeting

Rhea-AI Summary

Primerica (NYSE: PRI) announces its 2025 Leadership Meeting in Dallas, Texas, gathering over 900 top field leaders on January 7-8, 2025. The company reported significant achievements for 2024, including:

- A 7% growth in licensed sales force to over 151,600 representatives
- $122 billion in term life insurance issued, reaching $954 billion coverage in force
- Approximately $2 billion paid in death claims
- $12 billion in client investments, bringing total client asset values to $112 billion
- Over $500 million in mortgage facilitation
- 446,000 new representatives recruited
- 56,000 newly life-licensed representatives added
- Over 2,250 newly securities-licensed representatives, totaling over 25,400

Positive

• 7% growth in licensed sales force to 151,600 representatives
• $122 billion in new term life insurance issued
• Total life insurance coverage in force reached $954 billion
• Client asset values reached $112 billion
• $2 billion paid in death claims demonstrating strong financial capability
• Added 56,000 newly life-licensed representatives
• Securities-licensed representatives increased to 25,400

Negative

• None.

Insights

Financial Analyst

The preliminary 2024 results revealed in this leadership meeting announcement contain significant operational metrics that warrant attention. The 7% growth in life-licensed representatives to 151,600 demonstrates strong distribution network expansion. Most notably, the $122 billion in new term life insurance issuance and $954 billion total coverage in force represent substantial business volume. The $2 billion paid in death claims underscores the company's market presence and financial stability.

The investment side shows robust performance with $12 billion in new client investments, bringing total client assets to $112 billion. The mortgage facilitation of $500 million indicates successful diversification into the housing finance sector. The recruitment of 446,000 new representatives and addition of 56,000 newly licensed representatives suggest strong momentum in expanding their sales force.

Think of Primerica's business model as a flywheel - more licensed representatives lead to more policy sales, which generates higher revenues and attracts more representatives. The 2024 metrics indicate this flywheel is spinning faster, potentially driving future growth.

Market Research Analyst

Breaking down the recruitment funnel metrics reveals important insights about Primerica's operational efficiency. Of the 446,000 recruits, approximately 12.6% completed licensing requirements, indicating room for improvement in conversion rates but also demonstrating a selective process that maintains quality standards. The growth in securities-licensed representatives to 25,400 shows expansion in higher-margin investment products.

The increase in total coverage in force to $954 billion suggests strong client retention and policy persistence, critical factors for long-term profitability in the insurance sector. For perspective, this coverage amount would protect roughly 3 million middle-income American families, assuming an average policy size of $300,000.

The diversification into mortgages, while still a smaller segment at $500 million, provides cross-selling opportunities and deeper client relationships. This multi-product strategy helps insulate revenue streams from market cycles affecting any single product line.

DULUTH, Ga.--(BUSINESS WIRE)-- Primerica, Inc. (NYSE: PRI), a leading provider of financial products and services in the United States and Canada, will kick off the new year with over 900 of its top field leaders meeting in Dallas, Texas on January 7-8, 2025. Along with discussing company-wide initiatives for 2025, the annual leadership meeting will celebrate 2024 milestones and discuss opportunities for the year ahead.

“In 2024, Primerica had a record-breaking year growing its licensed sales force by 7% to over 151,600¹ life-licensed representatives,” said Glenn J. Williams, CEO of Primerica. “We issued $122 billion of term life insurance raising our term life insurance coverage in force at December 31, 2024 to $954 billion. Most importantly, we paid approximately $2 billion in death claims to help relieve financial stress for families when they needed it most. In addition, we helped clients invest over $12 billion toward their future goals, bringing our client asset values to approximately $112 billion at year-end 2024. Our representatives also facilitated over $500 million in mortgages to meet the financial needs of homeowners and support the dream of home ownership.²”

As part of the company’s ongoing efforts to expand its distribution capabilities, over 446,000 new representatives were recruited throughout 2024, resulting in over 56,000 newly life-licensed representatives. The company ended the year with over 2,250 newly securities-licensed representatives, bringing the company’s total number of licensed securities representatives to over 25,400.

¹ All production results contained herein are preliminary.
² Total mortgage origination volume includes mortgages in the United States and Canada. A representative’s ability to market mortgage products is subject to state and federal licensing requirements. U.S. Mortgage & Home Equity Loans: Primerica Mortgage, LLC, NMLS ID # 1723477 (https://nmlsconsumeraccess.org). EQUAL HOUSING OPPORTUNITY. Primerica Mortgage, LLC is a state licensed Mortgage Broker, with its headquarters office located at 1 Primerica Parkway, Duluth, GA 30099-0001. Phone Number: 1-855-357-1054. Mortgage products are offered through a contractual agreement between Primerica Mortgage, LLC and a third-party lender. For additional disclosures and a complete list of states where residential mortgage loans are offered, please visit https://bit.ly/PriMortgage. Mortgage Loans (Canada): Primerica does not deal in mortgages or debt consolidation lending. Primerica representatives make simple referrals to 8Twelve Mortgage Corp. and Rocket Mortgage Canada ULC for mortgages and debt consolidation loans secured by residential real estate.

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. We insured over 5.5 million lives and had approximately 3 million client investment accounts on December 31, 2024. 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/20250103534923/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 were Primerica's (PRI) key growth metrics for 2024?

In 2024, Primerica grew its licensed sales force by 7% to 151,600 representatives, issued $122 billion in term life insurance, reached $954 billion in coverage in force, and managed approximately $112 billion in client asset values.

How much did Primerica (PRI) pay in death claims during 2024?

Primerica paid approximately $2 billion in death claims during 2024 to help relieve financial stress for families.

What was Primerica's (PRI) mortgage facilitation volume in 2024?

Primerica's representatives facilitated over $500 million in mortgages during 2024.

How many new representatives did Primerica (PRI) recruit in 2024?

Primerica recruited 446,000 new representatives in 2024, with 56,000 becoming newly life-licensed representatives.

What is the total number of securities-licensed representatives at Primerica (PRI) as of 2024?

Primerica ended 2024 with over 25,400 securities-licensed representatives, adding more than 2,250 newly licensed representatives during the year.