Primerica Reports Strong Fourth Quarter Results

Primerica, Inc. (NYSE: PRI) recently announced financial results for the quarter ended December 31, 2024. 

Total revenues of $788.1 million increased 12% compared to the fourth quarter of 2023. Net income from continuing operations of $167.7 million increased 9% while net earnings per diluted share from continuing operations of $4.98 increased 14% compared to the prior year period.

Adjusted operating revenues of $790.1 million increased 12% compared to the fourth quarter of 2023. Adjusted net operating income of $169.2 million increased 11%, while adjusted operating earnings per diluted share of $5.03 grew 17% compared to the prior year period.

Continued momentum during the fourth quarter led to a record number of life-licensed representatives at year-end, reflecting the ongoing interest and appeal of Primerica’s business opportunity. 

Financial results were notably strong, driven by steady premium revenue growth due to the cumulative impact of new policy sales in recent periods adding to the Company’s large block of in-force term life insurance policies. This growth, combined with higher ISP sales and rising client asset values which benefited from favorable equity market conditions, further strengthened overall performance.

Glenn Williams, CEO of Primerica, stated:

“Strong growth in 2024 has fueled another year of double-digit adjusted operating earnings growth for our stockholders and positioned us for continued success. Our independent sales representatives remain well-positioned to deliver much needed advice to middle-income families in the U.S. and Canada.”

Highlights: 

• Momentum in recruiting and licensing drove life-licensed sales force to a record 151,611, up 7%
• Investment and Savings Products (“ISP”) sales up 41%; ending client asset values grew 16%
• Term Life net premiums grew 4%; adjusted direct premiums increased 6%
• Net earnings per diluted share from continuing operations (EPS) of $4.98 increased 14%; return from continuing operations on stockholders’ equity (ROE) of 31.9%
• Diluted adjusted operating earnings per share of $5.03 increased 17%; adjusted net operating income return on adjusted stockholders’ equity (ROAE) of 31.3%
• Declared a 16% increase in dividend to $1.04 per share, payable on March 14, 2025. 

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 approximately 5.7 million lives and had approximately 2.9 million client investment accounts on 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”.