Primerica to Hold Virtual 2021 Senior Leadership Meeting

Rhea-AI Summary

Primerica, Inc. (NYSE:PRI) is set to launch a virtual conference for over 800 sales leaders on January 7-8, 2021, focusing on initiatives for 2021 and beyond. CEO Glenn Williams emphasized the increased need for financial solutions post-2020 disruptions. In 2020, Primerica reported $859 billion in life insurance in force and $80 billion in projected client asset values. Key production metrics included $109 billion in term life insurance issued and $7.8 billion in investment sales. The company aims to build on its successful 2020 by improving client interactions and expanding its sales force.

Positive

• Reported $859 billion in life insurance in force at year-end 2020.
• Projected client asset values increased to over $80 billion.
• Successful recruitment of 400,345 new representatives in 2020.
• Term life insurance face amount issued reached $109 billion.
• Investment and savings product sales totaled $7.8 billion.

Negative

• None.

Primerica, Inc. (NYSE:PRI), a leading provider of financial services to families throughout the United States and Canada, will kick off the new year with a virtual conference for its top sales leaders on January 7-8, 2021. The event, which will center on initiatives for 2021 and beyond, replaces the Company’s traditional in-person leadership meeting, and it is expected that more than 800 Primerica field leaders will participate. The meeting also provides a platform for our most successful representatives to share their methods for helping even more middle-income families become properly protected and financially secure.

“The disruption during 2020 confirmed that more families than ever need the financial solutions that Primerica provides to help them achieve their financial goals,” said Glenn Williams, Primerica CEO. “Thanks to the outstanding efforts of our sales force and home office team, we exhibited adaptability that enabled us to effectively meet the financial needs of middle-income families despite the new realities brought on by the global pandemic.”

Williams continued, “In 2021, we will continue to serve our clients in this new environment and work to build on the momentum we achieved in 2020. Over the past several years, we have deployed industry-leading technology to make our client interactions safer, faster, and more convenient. These improvements also helped make our business opportunity more attractive to thousands of entrepreneurs across the U.S. and Canada. We enter the new year more resilient, more confident, and better positioned to help families than ever before.”

The Company also will celebrate 2020 production¹ success during the meeting, including total face amount of life insurance in force of approximately $859 billion at year end, as well as an increase in projected client asset values to more than $80 billion. As of December 31, 2020, Primerica had 134,907 independent life-licensed representatives, including 3,597 licenses that were issued on a temporary basis due to COVID-19 and 2,508 licenses in states where the renewal date was extended. Additionally, Primerica ended 2020 with more than 25,800 mutual fund-licensed representatives. Other 2020 production results include:

• Recruiting of New Representatives: 400,345
• Term Life Insurance Face Amount Issued: $109 billion
• Term Life Insurance Claims Paid to Policy Beneficiaries: $1.5 billion
• Investment and Savings Products Sales: $7.8 billion
• Closed US Mortgage Volume (brokered): $442 million
• Closed Canada Mortgage Volume (referred): $66 million CAD

“In 2020, our field leaders were challenged to rise to new levels. Their shared passion for helping our clients produced record success in one of the most disruptive years of our generation. Due to their hard work and that of our employees, Primerica is well-positioned to continue to deliver value to all of our stakeholders in 2021 and beyond,” says Williams.

1. All production results contained herein are projected.

About Primerica, Inc.

Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial services to middle-income households in the United States and Canada. 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 million lives and had approximately 2.5 million client investment accounts at December 31, 2020. Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in North America in 2019. 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/20210107005180/en/

FAQ

What is the date of Primerica's virtual conference?

Primerica's virtual conference is scheduled for January 7-8, 2021.

What financial metrics did Primerica report for 2020?

In 2020, Primerica reported $859 billion in life insurance in force and $80 billion in projected client asset values.

How many new representatives did Primerica recruit in 2020?

Primerica recruited 400,345 new representatives in 2020.

What was the amount of term life insurance issued by Primerica in 2020?

Primerica issued $109 billion in term life insurance in 2020.

What were Primerica's investment and savings product sales in 2020?

Investment and savings products sales for Primerica totaled $7.8 billion in 2020.