Primerica ( (PRI) ) has released its Q4 earnings. Here is a breakdown of the information Primerica presented to its investors.
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Primerica, Inc., headquartered in Duluth, GA, is a leading financial services provider offering term life insurance, mutual funds, annuities, and other financial products to middle-income households in North America through its network of independent licensed representatives.
In its fourth quarter 2024 earnings report, Primerica demonstrated strong financial performance with a 12% increase in total revenues to $788.1 million and a 9% rise in net income from continuing operations. The company’s earnings per diluted share from continuing operations saw a 14% increase, and it declared a 16% increase in dividends.
Key highlights from the report included a 7% growth in the life-licensed sales force to a record 151,611 representatives, a 41% increase in Investment and Savings Products sales, and a 16% rise in client asset values. Term Life net premiums grew by 4%, and adjusted direct premiums increased by 6%, contributing to overall financial strength.
Primerica’s strategic focus on recruitment and licensing has driven impressive growth in new insurance licenses and life-licensed representatives. The company also benefited from favorable equity market conditions, which bolstered client asset values and ISP sales.
Looking ahead, Primerica’s management remains optimistic about continued growth and success. The company’s strong performance in 2024 has positioned it well to deliver financial solutions to middle-income families in the U.S. and Canada, with a focus on sustaining its recruitment momentum and capitalizing on market opportunities.
