Primerica
February 23, 2023
DULUTH, Ga., February 23, 2023 -- Primerica, Inc. reported fourth-quarter 2022 GAAP revenue of 686.9 million dollars, down 5 percent from a year earlier, with net income of 131.8 million dollars and diluted EPS of 3.54 dollars. Diluted adjusted operating EPS was 3.49 dollars, up 19 percent, and adjusted net operating income was 129.9 million dollars, up 11 percent.
The life-licensed sales force grew 4.4 percent to a record 135,208 representatives. Term Life net premiums rose 5 percent and adjusted direct premiums rose 6 percent. Investment and Savings Products sales for full-year 2022 reached 10 billion dollars, the second-largest year in company history despite equity-market volatility.
Chief executive Glenn Williams said the sales force continued to help middle-income families take action on insurance and investments. The board approved a 0.65 dollar dividend payable March 14, 2023, and the company completed its prior share-repurchase authorization after buying 356.3 million dollars of stock in 2022.