Primerica, Inc. (NYSE: PRI) recently reported robust financial results for the quarter ending December 31, 2024. Demonstrating remarkable growth across key financial metrics, the company continues to solidify its position as a leading provider of financial services to middle-income households in North America.
For Q4 2024, Primerica recorded total revenues of $788.1 million, marking a 12% increase compared to the fourth quarter of 2023. Net income from continuing operations reached $167.7 million, a 9% rise, while net earnings per diluted share surged 14% to $4.98.
Adjusted financial metrics also showed notable growth:
Adjusted operating revenues: $790.1 million, up 12%
Adjusted net operating income: $169.2 million, up 11%
Adjusted operating earnings per diluted share: $5.03, an impressive 17% increase
Primerica’s strong financial results were fueled by steady premium revenue growth stemming from recent policy sales that contributed to the company’s large block of in-force term life insurance policies. Additionally, the surge in Investment and Savings Products (ISP) sales and rising client asset values, aided by favorable equity market conditions, enhanced overall performance.
CEO Glenn Williams emphasized the company’s continued momentum:
“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.”
Record Life-Licensed Sales Force: Achieved 151,611 representatives, reflecting a 7% increase.
Investment and Savings Products (ISP) Sales: Increased by 41%, with ending client asset values growing 16%.
Term Life Net Premiums: Grew by 4%, with adjusted direct premiums rising 6%.
Net Earnings Per Diluted Share: $4.98, up 14%, with a return on stockholders’ equity (ROE) of 31.9%.
Diluted Adjusted Operating Earnings Per Share: $5.03, up 17%, with a return on adjusted stockholders’ equity (ROAE) of 31.3%.
Dividend Increase: Declared a 16% rise in dividend to $1.04 per share, payable on March 14, 2025.
Primerica, Inc., based in Duluth, GA, is a prominent financial services company serving middle-income households across North America. Its independent licensed representatives provide essential financial guidance, helping clients better prepare for a secure financial future through term life insurance, mutual funds, annuities, and other financial products.
As of December 31, 2023, Primerica insured approximately 5.7 million lives and managed around 2.9 million client investment accounts. The company was the second-largest issuer of term life insurance coverage in the United States and Canada in 2023. Primerica’s stock is included in the S&P MidCap 400 and Russell 1000 indices and is traded on the New York Stock Exchange under the symbol “PRI.”
With continued growth and strong financial results, Primerica remains a vital resource for middle-income families seeking financial security and long-term prosperity.
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