Primerica
August 30, 2024
Primerica, Inc. disclosed that on August 30, 2024 its senior health subsidiary, e-TeleQuote Insurance, signed a subscription agreement to sell newly issued shares, about 18.9 percent of its post-sale common stock, to an independent third-party investor. The sale is scheduled to close on September 30, 2024.
Right after the closing, Primerica will permanently give up all of its rights in e-TeleQuote without receiving any payment, leaving the new investor as sole owner. Primerica will then have no ongoing obligations or responsibilities for e-TeleQuote or its business.
The transaction completes the senior health exit Primerica announced in July, when it said the business lacked a clear path to profitability and recorded a non-cash write-off of the unit's remaining goodwill and intangibles.