Primerica News

Georgia Appeals Court Vacates Primerica Injunction Against Osaic Wealth in Advisor-Raid Lawsuit

Npros.com | 10/14/2026

ATLANTA, Georgia - October 14, 2026

The Court of Appeals of Georgia has vacated an emergency injunction that Primerica won last December against Osaic Wealth, Inc. and a West Virginia advisory firm it accuses of raiding one of its branch offices. The appeals court sent the case back to the trial judge to explain two threshold rulings before the order can stand.

The decision in Osaic Wealth, Inc. et al. v. Primerica Financial Services, LLC (No. A26A1288) came down October 14, 2026. It does not decide who is right about the alleged raid. The panel faulted the trial court's order for skipping past the defendants' challenges to the court's jurisdiction and their demand that the dispute go to arbitration.

The fight started on October 17, 2025. That day six registered independent-contractor representatives resigned from a Primerica Financial Services branch in Hurricane, West Virginia, affiliated with Osaic and began selling financial products for it right away. On November 3, 2025, Primerica sued Osaic and Legacy Investment Advisors and Wealth Management, LLC in the Superior Court of Gwinnett County, Georgia. The company alleges the departures were a coordinated raid. It says the defendants offered the representatives cash payments to move their customers' investments to Osaic, and that the departing representatives accessed and downloaded large amounts of confidential customer account data from Primerica's systems in breach of their contractual and legal duties.

Primerica filed an emergency motion on November 20, 2025, asking the court to bar the defendants from using that information and to order expedited discovery. On December 5, Legacy moved to dismiss, arguing it is a West Virginia company with no contacts in Georgia. The same day, both defendants moved to compel arbitration, arguing that because Primerica's broker-dealer affiliate and Osaic are both registered with the Financial Industry Regulatory Authority, the dispute belongs in a FINRA arbitration forum rather than state court. After a December 11 hearing, the trial judge granted Primerica's motion, issuing the injunction and ordering the defendants to answer discovery on a fast track.

On appeal, the defendants argued the trial court should not have issued an injunction before deciding whether it had jurisdiction over Legacy or whether the case must be arbitrated. They also argued Primerica had an adequate remedy at law and that the expedited discovery order was improper.

The appeals court agreed the order fell short on the first point. It said the trial court's order analyzed the injunction factors in detail but made only a single brief reference to Legacy's jurisdictional challenge, which is ordinarily a threshold issue, and to the arbitration motion, which Georgia public policy favors. The judge had remarked at the hearing that the court had jurisdiction under the Georgia Long Arm Statute, but the written order never mentioned that statute, leaving the appellate judges unable to tell how it was applied. Citing Georgia Supreme Court guidance that a case may be remanded when an order lacks enough detail for meaningful review, the panel vacated the injunction and expedited discovery order. It directed the trial court to clarify why it denied Legacy's motion to dismiss and the joint motion to compel arbitration.

The panel did not reach the defendants' other arguments and said its opinion should not be read as ruling on the merits. It also said the decision does not prevent further appeals on the issues raised or any new ones that come up on remand.

The case now goes back to Gwinnett County, where the trial court must address jurisdiction and arbitration before deciding whether any injunction should be reissued. If the arbitration motion succeeds, Primerica's claims would move out of state court and into FINRA's dispute-resolution system.

Primerica, Inc., based in Duluth, Georgia, sells term life insurance, mutual funds, annuities and other financial products through independent licensed representatives in the United States and Canada. The company is scheduled to report third-quarter 2026 results on November 4.

Primerica Second Quarter Adjusted Operating Revenues Rise 8 Percent to 863 Million Dollars

Press Release | 8/5/2026

DULUTH, Ga. -- August 5, 2026

Primerica reported second-quarter 2026 adjusted operating revenues of 863 million dollars, up 8% from the year-ago quarter. Diluted adjusted operating earnings per share were 6.41 dollars, up 17% from 5.46 dollars, and adjusted net operating income return on adjusted stockholders equity was 32.1%.

Term life insurance adjusted operating revenues were about 444 million dollars. Annualized issued premium of 89.9 million dollars decreased 9%, and the company issued 78,904 new life insurance policies in the quarter.

Primerica distributes term life insurance, mutual funds and other financial products through a licensed independent sales force.

Primerica Extends 200 Million Dollar Revolving Credit Facility to 2031

SEC Filing | 6/2/2026

Primerica said it amended and restated its 200 million dollar unsecured revolving credit facility on June 2, 2026, extending the maturity to June 2, 2031, and adjusting pricing and covenants.

The prior facility, last amended in 2021, had been scheduled to expire June 22, 2026. No amounts were outstanding when the new facility closed. Lenders include Bank of New York Mellon, Citibank, JPMorgan Chase, Royal Bank of Canada, Bank of Nova Scotia and Wells Fargo as administrative agent. Borrowings may be used for general corporate purposes and can bear interest at a base rate or SOFR plus an applicable margin tied to Primerica's debt rating.

The extension followed Primerica's May report of higher first-quarter adjusted operating revenues and earnings.

Primerica First Quarter Adjusted Operating Revenues Rise 9 Percent to 872 Million Dollars

Press Release | 5/6/2026

DULUTH, Ga. -- May 6, 2026

Primerica reported first-quarter 2026 adjusted operating revenues of 872.3 million dollars, up 9% from a year earlier, driven by Investment and Savings Products growth and a large in-force block of term life policies.

Adjusted net operating income was 189.8 million dollars, up 13%, and diluted adjusted operating earnings per share were 5.96 dollars, up 19%. Investment and Savings Products adjusted operating revenues rose 21% to 350.6 million dollars, while Term Life Insurance adjusted operating revenues rose 1% to 464.6 million dollars. Life insurance policies issued fell 14% to 74,054, and the issued term life face amount was 25.7 billion dollars, down from 28.5 billion dollars.

Primerica said momentum in Investment and Savings Products supported another quarter of strong financial performance. The company later amended and extended its revolving credit facility in June.

Primerica First Quarter Net Income Rises 14 Percent; Investment Sales Jump 28 Percent

Press Release | 5/7/2025

DULUTH, Ga., May 7, 2025 --

Primerica reported first-quarter 2025 revenue of 804.8 million dollars, up 9 percent from a year earlier. Net income rose 14 percent to 169.1 million dollars and diluted earnings per share rose 19 percent to 5.05 dollars. Adjusted operating earnings per share rose 20 percent to 5.02 dollars.

The life-licensed sales force grew 7 percent to 152,167 representatives, although recruiting fell 9 percent to 100,867. The company licensed 12,339 new life insurance representatives and issued 86,415 new term life policies, with productivity of 0.19 policies per life-licensed representative per month. Term Life segment revenue rose 4 percent to 457.8 million dollars.

Investment and savings product sales climbed 28 percent to 3.6 billion dollars, with net client inflows of 839 million dollars and average client asset values up 14 percent to 113.0 billion dollars. Glenn Williams is chief executive.

Primerica Fourth Quarter EPS Rises 14 Percent; Raises Dividend 16 Percent

Press Release | 2/11/2025

DULUTH, Ga., February 11, 2025 --

Primerica reported fourth-quarter 2024 total revenues of 788.1 million dollars, up 12 percent from a year earlier. Net income from continuing operations rose 9 percent to 167.7 million dollars, or 4.98 dollars per diluted share, up 14 percent, while adjusted operating earnings per share climbed 17 percent to 5.03 dollars.

Sales of investment and savings products jumped 41 percent to 3.3 billion dollars in the quarter, and the life-licensed sales force reached a record 151,611 representatives, up 7 percent. Term life net premiums grew 4 percent. Chief Executive Glenn Williams said strong growth in 2024 produced another year of double-digit adjusted operating earnings growth.

For the full year, net income from continuing operations rose 22 percent to 720.1 million dollars, or 20.99 dollars per diluted share. The board declared a 16 percent dividend increase to 1.04 dollars per share, payable March 14, 2025.

Primerica Third Quarter EPS From Continuing Operations Rises 31 Percent After e-TeleQuote Exit

Press Release | 11/6/2024

DULUTH, Ga., November 6, 2024 --

Primerica reported third-quarter 2024 total revenues of 774.1 million dollars, up 11 percent, and net income from continuing operations of 194.7 million dollars, or 5.72 dollars per diluted share, up 31 percent. Diluted adjusted operating earnings per share rose 28 percent to 5.68 dollars, including a 0.52 dollar after-tax remeasurement gain from the annual actuarial assumption review.

The company said that on September 30, 2024, it permanently surrendered and relinquished all rights in e-TeleQuote Insurance with no significant continuing involvement, completing its exit from senior health. Senior health results are now discontinued operations; net income including discontinued operations was 164.4 million dollars, or 4.83 dollars per diluted share.

The life-licensed sales force grew 7 percent to 148,890, investment and savings product sales jumped 34 percent to 2.9 billion dollars, and client asset values rose 26 percent to 111 billion dollars. Primerica repurchased 129 million dollars of stock in the quarter and declared a 0.90 dollar dividend.

Primerica Names Robert Peterman Chief Operating Officer as Greg Pitts Prepares to Retire

Press Release | 9/24/2024

DULUTH, Ga., Sept. 24, 2024 --

Primerica appointed Robert H. Peterman Jr. executive vice president and chief operating officer, reporting to Chief Executive Glenn Williams, effective October 1, 2024. He succeeds Gregory C. Pitts, who plans to retire on or about April 1, 2025 after 40 years with the company and will give up the COO title on October 1.

Peterman has served as executive vice president and chief distribution officer since March 2023. He was previously chief marketing officer and president of Primerica Distribution, overseeing recruiting, licensing, field compensation and decision support. He joined the company in October 1984.

Williams said Primerica's deep bench of long-tenured leaders allows a seamless transition and called Peterman a strategic thought leader for the sales force and home office.

Primerica Lines Up Investor for e-TeleQuote, Clearing Way to Relinquish Senior Health Unit

SEC Filing | 8/30/2024

Primerica, Inc. disclosed that on August 30, 2024 its senior health subsidiary, e-TeleQuote Insurance, signed a subscription agreement to sell newly issued shares, about 18.9 percent of its post-sale common stock, to an independent third-party investor. The sale is scheduled to close on September 30, 2024.

Right after the closing, Primerica will permanently give up all of its rights in e-TeleQuote without receiving any payment, leaving the new investor as sole owner. Primerica will then have no ongoing obligations or responsibilities for e-TeleQuote or its business.

The transaction completes the senior health exit Primerica announced in July, when it said the business lacked a clear path to profitability and recorded a non-cash write-off of the unit's remaining goodwill and intangibles.

Primerica Second Quarter Adjusted EPS Rises 18 Percent as Sales Force Hits Record 145,789

Press Release | 8/7/2024

DULUTH, Ga., Aug. 7, 2024 --

Primerica reported second-quarter 2024 net income of 1.2 million dollars, or 0.03 dollars per diluted share, as non-cash write-offs from its decision to exit the senior health business weighed on GAAP results. Adjusted operating earnings per diluted share rose 18 percent to 4.71 dollars, and adjusted net operating income rose 12 percent to 162.7 million dollars.

Total revenue rose 17 percent to 803.4 million dollars, including 50 million dollars of insurance claim proceeds. Adjusted operating revenue rose 9 percent to 753.3 million dollars. New life-licensed representatives rose 14 percent to 14,402, lifting the life-licensed sales force to a record 145,789, and investment and savings product sales jumped 29 percent to 3.1 billion dollars.

The company raised its quarterly dividend 20 percent to 0.90 dollars per share and repurchased 143 million dollars of stock during the quarter. CEO Glenn Williams said nearly 40,000 people attended the company's July international convention.

Primerica to Exit Senior Health Business, Write Off 254 Million in e-TeleQuote Goodwill and Intangibles

Press Release | 7/16/2024

DULUTH, Ga., July 16, 2024 --

Primerica said its board decided to exit the senior health business by giving up ownership of e-TeleQuote Insurance, the Medicare-focused distributor it acquired in July 2021. The company said the unit had no clear path to profitability within an acceptable timeframe as the senior health market deteriorated and regulation grew more uncertain.

Primerica plans to give up all rights in e-TeleQuote without receiving any payment no later than September 30, 2024, after e-TeleQuote sells up to 19 percent of its stock to a new outside investor. In the second quarter it will record a net non-cash after-tax charge of 229.6 million dollars, reflecting the write-off of 253.6 million dollars of remaining goodwill and intangibles, partly offset by a 24.0 million dollar tax benefit.

Chief Executive Glenn Williams said the sector's structural changes since the acquisition drove the decision. The company said it has no plans to cut staff at e-TeleQuote during the transition, and Medicare clients served by e-TeleQuote agents will not be affected.

Primerica First Quarter EPS Rises 14 Percent as Life-Licensed Force Hits 142,855

Press Release | 5/6/2024

DULUTH, Ga., May 6, 2024 --

Primerica reported first-quarter 2024 total revenues of 742.8 million dollars, up 8 percent from a year earlier, with net income of 137.9 million dollars, up 8 percent, and diluted earnings per share of 3.93 dollars, up 14 percent. Diluted adjusted operating EPS rose 10 percent to 3.91 dollars.

The life-licensed sales force reached 142,855 representatives, up 5 percent. Recruiting rose 18 percent and new life licenses rose 16 percent. Investment and savings product sales climbed 20 percent to 2.8 billion dollars, and client asset values ended at 103 billion dollars, up 18 percent. Term Life adjusted direct premiums grew 6 percent.

Chief Executive Glenn Williams said core Term Life and investment-product results remained strong despite a Senior Health segment loss. Primerica repurchased 109 million dollars of stock in the quarter and declared a 0.75 dollar dividend payable June 12, 2024. The company also said it would recognize a 50 million dollar insurance-claim gain in the second quarter related to the e-TeleQuote acquisition.

Primerica Fourth Quarter EPS Rises 9 Percent as Life-Licensed Force Hits Record 141,572

Press Release | 2/13/2024

DULUTH, Ga., February 13, 2024 --

Primerica reported fourth-quarter 2023 total revenues of 726.3 million dollars, up 6 percent from a year earlier, with net income of 151.9 million dollars, up 4 percent, and diluted earnings per share of 4.30 dollars, up 9 percent. Diluted adjusted operating EPS also rose 9 percent to 4.25 dollars.

The company said its life-licensed sales force reached a record 141,572 representatives, up 5 percent from year-end 2022. Issued term life policies rose 12 percent on an adjusted basis and total face amount issued rose 16 percent, while investment and savings product sales rose 13 percent. Chief Executive Glenn Williams said strong recruiting and licensing continued to fuel the distribution platform.

For full-year 2023, net income was 576.6 million dollars, up 23 percent, and diluted EPS was 15.94 dollars, up 29 percent. Primerica said it completed 375 million dollars of share repurchases in 2023 and that its board authorized a new 425 million dollar repurchase program through December 31, 2024.

Primerica Names Tracy Tan Chief Financial Officer as Alison Rand Prepares to Retire

Press Release | 12/18/2023

DULUTH, Ga., December 18, 2023 --

Primerica, Inc. promoted Tracy Tan, executive vice president of finance, to chief financial officer and principal financial officer, effective December 20, 2023. The company had previously said Tan would succeed Chief Financial Officer Alison Rand no later than April 1, 2024.

Nicholas Jendusa, executive vice president and controller, was appointed principal accounting officer, also effective December 20. Rand will remain with the company until her retirement on April 1, 2024, providing transition support and working on special executive projects.

Chief Executive Glenn Williams said Tan had been a great addition to the executive team and noted that Jendusa had been a senior accounting leader since 2012. Primerica sells term life insurance and investment products through independent licensed representatives in the United States and Canada.

Primerica Elects Former GE Executive Darryl Wilson to Board

Press Release | 12/6/2023

DULUTH, Ga., December 6, 2023 --

Primerica, Inc. said its board elected Darryl L. Wilson to fill a vacancy, with his term beginning February 17, 2024. He has not yet been named to any board committees.

Wilson is founder, chairman and president of The Wilson Collective, a business advisory and investment firm he launched in 2018. He previously spent more than 30 years in global leadership roles, including 25 years at General Electric, where he served as vice president, commercial of GE Power and held senior posts including chief executive of GE Aero-derivative Products and of GE consumer businesses in Asia and in Europe, the Middle East and Africa, and five years with British Petroleum North America.

Wilson also serves on the boards of NextEra Energy and Eaton Corporation. Duluth, Georgia based Primerica sells term life insurance and investment products through a sales force of independent licensed representatives.

Primerica Third Quarter Adjusted Operating EPS Rises 14 Percent as Sales Force Grows

Press Release | 11/7/2023

DULUTH, Ga., November 7, 2023 --

Primerica, Inc. reported third-quarter 2023 total revenue of 710.9 million dollars, up 6 percent from a year earlier. Net income rose 91 percent to 152.1 million dollars and diluted EPS doubled to 4.23 dollars from 2.11 dollars; the year-earlier period included a 60.0 million dollar non-cash goodwill impairment. Adjusted operating revenue rose 5 percent to 713.2 million dollars, adjusted net operating income rose 9 percent to 153.8 million dollars and adjusted operating EPS rose 14 percent to 4.28 dollars.

The life-licensed sales force grew 4 percent to 139,053 representatives on continued strength in recruiting and licensing. Issued term life policies rose 9 percent and total face amount issued rose 13 percent, while Term Life pre-tax income grew 7 percent and Investment and Savings Products pre-tax income grew 9 percent as average client asset values rose 10 percent. The Senior Health segment posted a net loss ahead of the Medicare annual enrollment period.

Chief Executive Glenn Williams said robust recruiting and licensing validated the appeal of the company's entrepreneurial opportunity.

Primerica Second Quarter Adjusted Operating EPS Rises 18 Percent as Sales Force Grows

Press Release | 8/7/2023

DULUTH, Ga., August 7, 2023 --

Primerica, Inc. reported second-quarter 2023 GAAP revenue of 688.4 million dollars, up 3 percent from a year earlier, with net income of 144.5 million dollars and diluted EPS of 3.97 dollars, up 20 percent. Diluted adjusted operating EPS was 3.99 dollars, up 18 percent, and adjusted net operating income was 145.4 million dollars, up 11 percent. Return on stockholders' equity was 29.2 percent.

The life-licensed sales force grew 4 percent to 137,806 representatives, with new life licenses up 10 percent. Issued term life face amount rose 16 percent to 32.2 billion dollars. Investment and Savings Products sales were 2.4 billion dollars, down 11 percent, though net client inflows were 542 million dollars.

Chief executive Glenn Williams said distribution strength continued to support middle-income families' financial-security needs. The company repurchased 110.8 million dollars of stock in the quarter and declared a 0.65 dollar dividend payable September 11, 2023.

Primerica First Quarter Adjusted Operating EPS Rises 18 Percent as Sales Force Grows

Press Release | 5/8/2023

DULUTH, Ga., May 8, 2023 --

Primerica, Inc. reported first-quarter 2023 GAAP revenue of 690.0 million dollars, largely unchanged from a year earlier, with net income of 125.1 million dollars and diluted EPS of 3.38 dollars, up 16 percent. Diluted adjusted operating EPS was 3.49 dollars, up 18 percent, and adjusted net operating income was 128.9 million dollars, up 10 percent. Return on stockholders' equity was 25.5 percent.

The life-licensed sales force grew 5 percent to 136,430 representatives, with new life licenses up 11 percent. Issued term life face amount rose 14 percent to 28.1 billion dollars. Investment and Savings Products sales were 2.3 billion dollars, down 25 percent amid equity-market volatility, though net client inflows were 642 million dollars.

Chief executive Glenn Williams said middle-income families' need for financial guidance continued to drive term-life growth and distribution building. The company repurchased 85.2 million dollars of stock in the quarter and declared a 0.65 dollar dividend payable June 12, 2023.

Primerica Fourth Quarter Adjusted Operating EPS Rises 19 Percent as Sales Force Hits Record

Press Release | 2/23/2023

DULUTH, Ga., February 23, 2023 -- Primerica, Inc. reported fourth-quarter 2022 GAAP revenue of 686.9 million dollars, down 5 percent from a year earlier, with net income of 131.8 million dollars and diluted EPS of 3.54 dollars. Diluted adjusted operating EPS was 3.49 dollars, up 19 percent, and adjusted net operating income was 129.9 million dollars, up 11 percent.

The life-licensed sales force grew 4.4 percent to a record 135,208 representatives. Term Life net premiums rose 5 percent and adjusted direct premiums rose 6 percent. Investment and Savings Products sales for full-year 2022 reached 10 billion dollars, the second-largest year in company history despite equity-market volatility.

Chief executive Glenn Williams said the sales force continued to help middle-income families take action on insurance and investments. The board approved a 0.65 dollar dividend payable March 14, 2023, and the company completed its prior share-repurchase authorization after buying 356.3 million dollars of stock in 2022.

Primerica Third Quarter Net Income Falls 54 Percent on Senior Health Impairment

Press Release | 11/8/2022

Primerica reported third-quarter 2022 revenue of 673.3 million dollars, down 3 percent from a year earlier. Net income fell 54 percent to 51.8 million dollars and diluted EPS fell 51 percent to 1.37 dollars, reflecting a 60.0 million dollar goodwill impairment, or 1.59 dollars per share, in its Senior Health segment.

Adjusted operating revenue was 676.1 million dollars, down 2 percent, while adjusted operating EPS rose 1 percent to 3.02 dollars. The life-licensed sales force grew 3 percent, and Investment and Savings Products sales fell 23 percent to 2.2 billion dollars amid weaker markets. The company paid a 0.55 dollar quarterly dividend and repurchased 97 million dollars of stock.

Primerica Second Quarter Revenue Rises 2 Percent to 668.7 Million

Press Release | 8/8/2022

Primerica said second-quarter 2022 total revenue was 668.7 million dollars, up 2 percent from a year earlier. Net income attributable to Primerica was 107.9 million dollars, down 16 percent, and diluted earnings per share were 2.79 dollars, down 13 percent. Adjusted operating revenue was 671.8 million dollars, up 3 percent, and diluted adjusted operating earnings per share were 2.86 dollars, down 12 percent. ROE was 23.3 percent and ROAE was 22.5 percent.

The life-licensed sales force ended the quarter at 132,149 representatives after new life licenses rose 14 percent. Investment and Savings Products sales were 2.7 billion dollars. The company repurchased 128 million dollars of stock in the quarter and declared a 55-cent dividend payable September 14, 2022. Chief executive Glenn Williams said licensing momentum and convention energy supported second-half positioning.

Primerica First Quarter Revenue Rises 8 Percent Amid Senior Health Loss

Press Release | 5/5/2022

Primerica said first-quarter 2022 total revenues were 691.2 million dollars, up 8 percent from a year earlier. Net income attributable to Primerica was 81.4 million dollars, or 2.06 dollars per diluted share. Diluted adjusted operating earnings per share were 2.11 dollars. The life-licensed sales force ended the quarter at 130,206.

Chief executive Glenn Williams said term life and investment and savings product businesses performed well while Senior Health remained a headwind, posting a 19.0 million dollar pre-tax operating loss. Investment and savings product sales rose 7 percent to 3.1 billion dollars. The company bought back 99 million dollars of stock in the quarter and declared a 55-cent dividend payable June 14, 2022.

Primerica Fourth Quarter Revenue Rises 21 Percent Amid Senior Health Charge

Press Release | 2/14/2022

Primerica said fourth-quarter 2021 total revenues were 724.1 million dollars, up 21 percent, while adjusted operating revenues rose 22 percent to 723.0 million dollars. The company recorded a preliminary 76 million dollar non-cash goodwill impairment in Senior Health, or 1.91 dollars per diluted share, cutting GAAP diluted earnings per share to an estimated 87 cents. Diluted adjusted operating earnings per share rose 20 percent to 2.94 dollars.

Chief executive Glenn Williams said term life and investment businesses were strong while Senior Health lagged on policy churn and acquisition costs. Investment and savings product sales rose 46 percent to more than 3 billion dollars in the quarter. The life-licensed sales force ended the year at 129,515. The board added 50 million dollars to the share repurchase program, bringing the authorization through December 2022 to 325 million dollars, and earlier raised the quarterly dividend 17 percent to 55 cents per share.

Primerica Third Quarter Revenue Rises 22 Percent to 693.2 Million

Press Release | 11/8/2021

Primerica reported third quarter total revenue of 693.2 million dollars, up 22 percent. Net income attributable to Primerica was 112.4 million dollars and diluted earnings per share were 2.82 dollars, both little changed from a year earlier. Return on equity was 21.8 percent. Adjusted operating revenue was 692.5 million dollars. Adjusted net operating income was 118.7 million dollars and adjusted operating earnings per share were 2.98 dollars, both up 7 percent.

Results include 22.9 million dollars of revenue and a 4.6 million dollar net loss from e-TeleQuote, the Medicare business Primerica bought 80 percent of on July 1. That loss reduced diluted earnings per share by about 0.12 dollars.

Investment and savings product sales rose 52 percent, and client asset values ended at 92 billion dollars. Term life net premiums grew 12 percent. The company said issued term policies were moving back toward pre-pandemic levels, persistency stayed favorable, and claims remained elevated because of COVID-19. Senior health policy approvals were seasonally low while the company spent to prepare licensed agents.

Primerica Second Quarter Revenue Rises 25 Percent to 654.7 Million

Press Release | 8/5/2021

Primerica reported second-quarter total revenue of 654.7 million dollars, up 25 percent. Net income rose 26 percent to 128.2 million dollars. Diluted earnings were 3.22 dollars a share, up 28 percent. Return on stockholders equity was 26.3 percent. Adjusted operating earnings were 3.25 dollars a share, up 33 percent, after excluding 2.1 million dollars of transaction costs tied to the e-TeleQuote purchase.

Investment and savings product sales were 3.04 billion dollars, up 80 percent from 1.69 billion dollars and the first time those sales passed 3 billion dollars. The company issued 90,071 term life policies. The life-licensed sales force was 132,041, down 2 percent. Recruits fell 33 percent to 89,285. The July 1 close of the 80 percent e-TeleQuote stake was noted in the results. A dividend of 0.47 dollars a share was declared, payable September 14, 2021.

Chief executive Glenn Williams said core sales stayed strong and that the company was focused on growing the sales force as licensing returned toward pre-COVID patterns. Management also said term life death claims remained elevated from COVID-related deaths and other excess mortality.

Primerica Closes Purchase of 80 Percent of e-TeleQuote

Press Release | 7/1/2021

Primerica said it closed the purchase of 80 percent of the operating subsidiaries of Etelequote Limited, known as e-TeleQuote. The deal, agreed on April 18, 2021, carries an enterprise value of 600 million dollars and an implied equity value of about 450 million dollars. Primerica will buy the remaining 20 percent over as long as four years.

Chief executive Glenn Williams said the combination lets life-licensed representatives serve client financial needs across more of a lifetime. e-TeleQuote distributes Medicare-related insurance, including more than 2,700 Medicare Advantage plans from carriers such as United Healthcare, Humana, and Anthem, and it has a growing Medicare supplement business with four carriers.

Founder and chief executive Anthony P. Solazzo said licensed agents use a carrier-neutral approach to help beneficiaries compare plans. Consumers can reach those agents or the consumer site easymedicare.com. The close follows the April agreement and brings the senior-health distributor into Primerica.

Primerica First Quarter Revenue Rises 21 Percent to 637.7 Million

Press Release | 5/5/2021

Primerica reported total revenue of 637.7 million dollars for the first quarter of 2021, up 21 percent from a year earlier. Net income rose 35 percent to 97.9 million dollars, and diluted earnings rose 41 percent to 2.46 dollars a share. Adjusted operating earnings were 2.44 dollars a share, up 19 percent.

Investment and savings product sales rose 27 percent to a record 2.9 billion dollars. The company issued 82,667 term life policies, up 16 percent. Recruiting rose 12 percent to 94,633 new recruits. The life-licensed sales force ended the quarter at 132,030. Client asset values ended at 85.9 billion dollars, up 45 percent.

Chief executive Glenn Williams said COVID-19 raised demand for protection and investing among middle-income families. COVID-related death claims, net of reinsurance, were about 21 million dollars in the quarter. Buybacks remained suspended to fund the planned e-TeleQuote purchase. The board declared a dividend of 0.47 dollars a share payable June 14, 2021.

Primerica Agrees to Buy Majority Stake in e-TeleQuote for 600 Million Enterprise Value

Press Release | 4/19/2021

Primerica and Etelequote Limited said they signed a definitive agreement for Primerica to acquire 80 percent of e-TeleQuote operating subsidiaries at a 600 million dollar enterprise value. Primerica plans to buy the remaining 20 percent over as long as four years. The companies also signed a distribution agreement so Primerica U.S. representatives can refer Medicare Advantage and Medicare Supplement business to e-TeleQuote. Closing was expected in July 2021.

Chief executive Glenn Williams said the deal combines Primerica middle-income client relationships with e-TeleQuote expertise in senior health insurance. e-TeleQuote, based in Clearwater, Florida, distributes Medicare-related plans in all 50 states and Puerto Rico and works with carriers that include United Healthcare, Humana, and Anthem.

Under the share purchase agreement, Primerica would pay about 360 million dollars for the 80 percent equity stake based on an implied equity value of 450 million dollars after estimated net debt of 150 million dollars at closing. Funding was planned through cash, a revolving credit draw, and a sellers note. Sellers could earn up to 50 million dollars more if 2021 and 2022 targets are met. Primerica suspended share buybacks for the rest of 2021 after the announcement.

Primerica Fourth Quarter Revenue Rises 12 Percent to 598.3 Million

SEC filing | 2/9/2021

Primerica reported total revenue of 598.3 million dollars for the fourth quarter of 2020, up 12 percent from a year earlier. Net income rose 7 percent to 100.1 million dollars, and diluted earnings rose 13 percent to 2.52 dollars a share. Adjusted operating earnings were 2.45 dollars a share, up 10 percent.

The life-licensed sales force ended the year at 134,907, up 3 percent. The company issued 87,307 term life policies in the quarter, up 22 percent, and said full-year face amount issued reached a record 109 billion dollars. Investment and savings product sales rose 4 percent to 2.1 billion dollars, and client asset values ended at a record 82 billion dollars. Recruiting rose 33 percent to 80,599 new recruits.

Chief executive Glenn Williams said the pandemic made protection and long-term investing more urgent for middle-income clients and that the sales force adapted to meet that demand. COVID-19 death claims, net of reinsurance, were about 14 million dollars in the quarter, the highest since the pandemic began, and about 33 million dollars for the full year.

The board approved a share repurchase program of up to 300 million dollars through June 2022 and raised the quarterly dividend 18 percent to 0.47 dollars a share, payable March 15, 2021, to holders of record on February 22. Full-year revenue was a record 2.2 billion dollars, up 8 percent, and full-year diluted earnings were a record 9.57 dollars a share.