Primerica, Inc. (NYSE: PRI) recently announced financial results for the quarter ended June 30, 2018. In the second quarter, total revenues and adjusted operating revenues each increased 13% to $467.8 million and $466.9 million, respectively.
Income before income taxes increased 18% and adjusted operating income before income taxes increased 17% over the prior year period. Net income grew 37% to $86.7 million and adjusted net operating income grew 36% to $86.0 million compared with the second quarter of 2017, both of which reflect benefits from the Tax Cuts and Jobs Act of 2017 (Tax Reform).
Glenn Williams, Chief Executive Officer, said, “We achieved 43% growth in EPS year-over-year and 24.5% ROE in the second quarter, reflecting solid performance, ongoing share repurchases and the benefits of Tax Reform. Income before income taxes grew 18% over the prior year period driven by increases of 23% and 9% for the Term Life and the ISP segments, respectively.”
“Our sales force leadership continued to perform well, with the size of our life insurance licensed sales force exceeding 130,000, Term Life productivity remaining at the top of historical levels and Investment and Savings Products (ISP) sales near record highs. We delivered for our stakeholders in the second quarter and continue
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45,000 Distributors Expected To Attend Primerica’s 2017 Convention
by Ted Nuyten • • 0 Comments
Beginning Wednesday, an expected 45,000 people will converge on Indianapolis to attend the 2017 Primerica International Convention at the Indianapolis Convention Center and Lucas Oil Stadium, June 14-17, 2017.
The biennial event will celebrate record achievements in meeting the financial needs of Main Street clients and the extraordinary success of our Field Leadership. It also will set the stage for continued growth throughout 2017 and beyond.
Glenn Williams, Primerica CEO, said, “Our Company and our Field Leadership have experienced a period of unprecedented growth since our 2015 Convention.
At that meeting, we set several ambitious goals to achieve before our 2017 event – I’m proud that we’ve met or exceeded every one of them. I’m particularly excited about the growth in the size of sales force over the past 24 months:
As of May 31, 2017, our sales force has exceeded 120,000 life insurance licensed representatives.
These men and women are committed to doing what’s right for their clients and for their teammates, every day.
“Our sales force growth comes at a time when our clients need our help the most. It’s widely accepted that there is a significant life insurance protection gap in North America, with some estimates reaching as high as $12 trillion.
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Primerica Announces New Lifetime Investment Platform
by Nicole Dunkley • • 0 Comments
Primerica, Inc. recently announced the Primerica Advisors Lifetime Investment Platform, a major investment service enhancement that provides clients access to fee-based asset management services that are focused on helping Main Street clients achieve their goals and objectives throughout their investing lifecycle.
CEO Glenn Williams notes that Primerica continues to successfully execute against an organic growth strategy of growing distribution and selectively adding products to meet the evolving needs of Main Street families, and that the timing is right for this major platform introduction.
“Given the strong distribution and sales momentum we’ve achieved in the early months of 2017, we believe this is the ideal time to expand our Investment and Savings Products with the launch of our new platform,” said Williams.
Approximately 3,200 of Primerica’s 18,000 U.S. mutual fund licensed representatives are also investment advisor
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Primerica Q4 Sales Up 11% To $393 Million
by Ted Nuyten • • 0 Comments
Primerica, Inc. (NYSE: PRI) today announced financial results for the quarter ended December 31, 2016. In the fourth quarter, total revenues increased 11% and operating revenues increased 10% to $393.9 million and $392.4 million, respectively.
Net income grew 19% to $56.9 million and net operating income grew 11% to $55.9 million compared with the fourth quarter of 2015. Earnings growth and share repurchases throughout 2016 drove a 25% increase in EPS and an 18% increase in operating EPS to $1.21 and $1.19, respectively, in the fourth quarter of 2016.
ROE expanded to 18.6% and operating ROAE expanded to 19.2% in the current period versus 16.7% and 18.2%, respectively, in the prior year period.
Glenn Williams, Chief Executive Officer, said,
“During 2016, we continued to execute our strategy to drive growth and improve performance
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Primerica Wins 14th Consecutive Service Award
by Ted Nuyten • • 0 Comments
Recently, DALBAR awarded Primerica (NYSE:PRI) the 2016 DALBAR Mutual Fund Service Award for exemplary customer service to its mutual funds clients for the fourteenth year in a row.
For nearly three decades, DALBAR has conducted rigorous testing of service delivery and each year identifies those mutual fund firms that were found to be above their peers in service to clients after a full year of comprehensive evaluation.
“Primerica places real value on the customer experience and has made outstanding service a core part of their brand,” said Brendan Yeager, Director at DALBAR. “This achievement underscores Primerica’s commitment to consistently delivering a superior standard of care.”
Gregory Pitts, Primerica’s Chief Operating Officer said, “Customer service always has been a top priority at Primerica. We continue to enhance servicing processes to deliver an excellent client experience.
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Primerica To Hold 2017 Biennial Convention In Indianapolis
by Nicole Dunkley • • 0 Comments
Primerica, Inc., a leading distributor of financial products to middle income households in North America, recently announced they have selected Indianapolis as the site of its next salesforce convention, a biennial event slated for June 2017.
The Georgia company has more than 110,000 life-insurance licensed representatives across North America, and it expects about 50,000 of them to attend the three-day convention.
The main event will take place at Lucas Oil Stadium, home of the NFL’s Indianapolis Colts, with smaller breakout workshops and seminars to be held at the Indianapolis Convention Center.
“The city has everything we look for in a meeting venue: a beautiful, accessible downtown with a wide assortment of hotels and restaurants; a central location with an exceptional airport; and world-class meeting facilities,” said Glenn Williams, Primerica CEO. “We’re confident that Indianapolis
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Primerica Reports 2016 Q1 – Revenues Up 6% To $363.7 Million
by Nicole Dunkley • • 0 Comments
Primerica, Inc. (NYSE: PRI) recently today financial results for the quarter ended March 31, 2016. Total revenues were $363.0 million and net income was $45.2 million or $0.92 per diluted share in the first quarter of 2016.
Glenn Williams, Chief Executive Officer said, “We have begun 2016 with strong distribution growth. The size of our life insurance licensed sales force grew 10% which drove 19% growth in life insurance policies issued versus the first quarter a year ago.”
“Solid core performance across business segments coupled with recent share repurchases resulted in a 17% increase in diluted operating EPS and a 170 basis points increase in return on adjusted equity (ROAE) year-over-year.”
In the first quarter, operating revenues increased 6% to $363.7 million and net operating income increased 7% to $45.7 million from the prior
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Primerica Reports 2015 Q4 – Revenues Up 3% To $357.5 Million
by Nicole Dunkley • • 0 Comments
Primerica, Inc. (NYSE: PRI) recently announced today financial results for the quarter ended December 31, 2015. Total revenues were $354.1 million in the fourth quarter of 2015 and net income was $47.9 million, or $0.97 per diluted share. For the full year 2015, total revenues were $1.41 billion and net income was $189.9 million, or $3.70 per diluted share.
Glenn Williams, Chief Executive Officer said, “We achieved record results in 2015 with a 12% increase in diluted operating EPS and a 160 basis points increase in ROAE to 16.9% compared with 2014. We also made great strides in expanding distribution in 2015 achieving an 8% increase in the size of our life insurance licensed salesforce which played a critical role in the 18% year-over-year growth in life insurance policies issued. In addition, Investment
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Primerica to Kick Off 30th Year With Events Across Canada
by Nicole Dunkley • • 0 Comments
Primerica, Inc. (NYSE:PRI) will launch our 30th year serving middle income families in Canada with six events occurring simultaneously from coast to coast on Saturday, January 9, 2016.
Primerica CEO Glenn Williams will speak before a live audience in Toronto, and he will participate via video in meetings being held simultaneously in Calgary, Halifax, Montreal, Vancouver, and Winnipeg. Approximately 10,000 people are expected to attend these six events.
“2015 proved to be another record-shattering year for Primerica Canada,” said Williams. “Life insurance face amount in force exceeded $100 billion, and client asset values surpassed $10.5 billion, both as of December 31, 2015.
Most importantly, we paid more than $102 million in claims to our Canadian policy beneficiaries during 2015. These families experienced a tragic loss of life and we were able to
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Primerica Announces 19% Rise In 2015 Q3 Earnings
by Nicole Dunkley • • 0 Comments
Primerica, Inc. (NYSE: PRI) announced today financial results for the quarter ended September 30, 2015. Total revenues were $355.8 million in the third quarter of 2015 and net income was $49.4 million, or $0.98 per diluted share.
In the third quarter operating revenues increased by 5% to $356.1 million and net operating income increased 18% to $49.5 million compared with $339.1 million and $41.8 million, respectively, in the third quarter of 2014. Operating results were driven by growth in the Term Life segment including 21% growth in life insurance policies issued and an 11% increase in net premiums.
Investment and Savings Products segment revenues remained consistent with the strong performance in the third quarter of 2014. Year-over-year net operating income was impacted by an unusually high level of incurred claims in the prior