Primerica
February 14, 2022
Primerica said fourth-quarter 2021 total revenues were 724.1 million dollars, up 21 percent, while adjusted operating revenues rose 22 percent to 723.0 million dollars. The company recorded a preliminary 76 million dollar non-cash goodwill impairment in Senior Health, or 1.91 dollars per diluted share, cutting GAAP diluted earnings per share to an estimated 87 cents. Diluted adjusted operating earnings per share rose 20 percent to 2.94 dollars.
Chief executive Glenn Williams said term life and investment businesses were strong while Senior Health lagged on policy churn and acquisition costs. Investment and savings product sales rose 46 percent to more than 3 billion dollars in the quarter. The life-licensed sales force ended the year at 129,515. The board added 50 million dollars to the share repurchase program, bringing the authorization through December 2022 to 325 million dollars, and earlier raised the quarterly dividend 17 percent to 55 cents per share.