Primerica
February 13, 2024
DULUTH, Ga., February 13, 2024 --
Primerica reported fourth-quarter 2023 total revenues of 726.3 million dollars, up 6 percent from a year earlier, with net income of 151.9 million dollars, up 4 percent, and diluted earnings per share of 4.30 dollars, up 9 percent. Diluted adjusted operating EPS also rose 9 percent to 4.25 dollars.
The company said its life-licensed sales force reached a record 141,572 representatives, up 5 percent from year-end 2022. Issued term life policies rose 12 percent on an adjusted basis and total face amount issued rose 16 percent, while investment and savings product sales rose 13 percent. Chief Executive Glenn Williams said strong recruiting and licensing continued to fuel the distribution platform.
For full-year 2023, net income was 576.6 million dollars, up 23 percent, and diluted EPS was 15.94 dollars, up 29 percent. Primerica said it completed 375 million dollars of share repurchases in 2023 and that its board authorized a new 425 million dollar repurchase program through December 31, 2024.