Primerica online shareholders3/20/2024 To make year-over year comparisons more consistent, we have provided estimates for the prior year period. Previously reported numbers for the three months ended Mahave been adjusted as a result of a product change made near the end of 2022, which modified how policies are structured in relation to individual lives. Issued term life face amount ($ billions) (3)Ĭlosed U.S. Positive net flows in our ISP business indicate that our clients continue in their commitment to saving for the future.”įirst Quarter Distribution & Segment Results “This combination led to growth in our term life sales as well as strong results in building distribution. “Our performance in the first quarter demonstrates the ongoing needs of middle-income families for financial guidance and solutions, along with Primerica’s unique ability to serve our market,” said Glenn Williams, Chief Executive Officer. Economic uncertainty and equity market volatility continued to pressure sales and client asset values in the Investment and Savings Products segment. All prior period financial information contained herein has been restated to reflect the adoption of LDTI.įirst quarter results reflected the continued growth of adjusted direct premiums in the Term Life segment, the benefit of higher interest rates on net investment income in the Corporate and Other Distributed Products segment and the Company’s progress in improving the profitability of the Senior Health segment. The Company adopted ASU 2018-12 – Targeted Improvements to the Accounting for Long-Duration Contracts, or LDTI, on Januwith a transition date of January 1, 2021. Adjusted net operating income of $128.9 million increased 10%, while adjusted operating earnings per diluted share of $3.49 increased 18% compared to the same period in the prior year. ROE was 25.5% for the quarter.Īdjusted operating revenues of $695.0 million were relatively unchanged compared to the first quarter of 2022. Net income attributable to Primerica of $125.1 million increased 9%, while earnings per diluted share of $3.38 increased 16% compared to the same period in the prior year. Total revenues of $690.0 million were largely unchanged compared to the first quarter of 2022. (NYSE: PRI) today announced financial results for the quarter ended March 31, 2023. Net earnings per diluted share (EPS) of $3.38 increased 16% return on stockholders’ equity (ROE) of 25.5%ĭiluted adjusted operating EPS of $3.49 increased 18% adjusted net operating income return on adjusted stockholders’ equity (ROAE) of 24.2%ĭeclared dividend of $0.65 per share, payable on June 12, 2023, and repurchased $85 million of common stock during the quarterĭULUTH, Ga.-(BUSINESS WIRE)- Primerica, Inc. Senior Health approved policies and annual policy renewal rates in line with expectations Investment and Savings Products positive net flows of $642 million, however market volatility continues to pressure sales and client asset values Term Life face amount issued up 14% to $28.1 billion New life-licensed representatives up 11% with life-licensed sales force ending the quarter at 136,430, up 5%
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