Primerica
May 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.