Primerica
November 4, 2026
DULUTH, Georgia - November 4, 2026
Primerica reported third-quarter 2026 revenue of $902 million on November 4, up 7 percent from a year earlier, as record sales in its investment business offset lower profits in term life insurance and continued declines in recruiting and licensing of its independent sales force.
Net income for the quarter ended September 30 rose 1 percent to $209 million, and earnings per diluted share increased 6 percent to $6.76. The results included a pre-tax remeasurement gain of $12 million tied to the company's annual actuarial assumption review, compared with a $23 million gain in the same quarter of 2025. Adjusted net operating income rose 2 percent to $209 million, or $6.77 per diluted share, up 7 percent. Return on stockholders' equity was 31.3 percent.
"In the third quarter, Primerica's financial performance underscored the consistency of our business fundamentals, driven by our unique operating model that is purpose-built to help middle-income families achieve financial security," said Glenn Williams, chief executive officer. "Stable earnings in our Term Life segment and record investment sales continue to drive earnings momentum."
The Investment and Savings Products segment again led growth. Sales of mutual funds, managed accounts, annuities and other investment products rose 19 percent to a record $4.4 billion, and client asset values climbed 10 percent to $139.6 billion, helped by favorable equity markets. Net inflows totaled $407 million. Adjusted operating revenue in the segment increased 19 percent to $378.0 million, and adjusted operating income before taxes rose 21 percent to $114.1 million.
Term life insurance, the company's traditional core, was weaker. Adjusted operating revenue in the segment was essentially flat at $461.6 million, and adjusted operating income before taxes fell 12 percent to $152.7 million from $172.7 million. Net premiums were consistent with a year earlier, while adjusted direct premiums rose 3 percent. Issued term life face amount fell 5 percent to $25.7 billion, and the number of life insurance policies issued dropped 7 percent to 73,813. The company said total term life face amount in force reached $969 billion.
Primerica's distribution metrics continued to soften. The life-licensed sales force stood at 147,058 representatives at quarter end, down 3 percent from 152,200 a year earlier. Recruits fell 10 percent to 90,818 from 101,156, and new life-licensed representatives dropped 14 percent to 10,722 from 12,482. Life productivity, which measures average monthly policies issued per licensed representative, held steady at 0.17.
The Corporate and Other Distributed Products segment posted adjusted operating revenue of $62.2 million, up 10 percent, and adjusted operating income of $5.3 million, up 41 percent. Closed U.S. mortgage volume brokered by the company was $142.6 million, compared with $143.4 million a year ago.
Total adjusted operating income before taxes across all segments rose 1 percent to $272.1 million.
Primerica returned $159 million to stockholders during the quarter, including $122 million in share repurchases and $37 million in dividends. Its board approved a dividend of $1.20 per share, payable December 14, 2026, to stockholders of record on November 20. The company estimated that Primerica Life Insurance Company's statutory risk-based capital ratio was approximately 445 percent as of September 30.
Primerica, based in Duluth, Georgia, sells term life insurance, investment products and other financial services to middle-income households in the United States and Canada through a sales force of independent licensed representatives. The company said it was the third-largest issuer of term life insurance in North America in 2025 and insured more than 5.5 million lives as of the end of that year. Its shares trade on the New York Stock Exchange under the symbol PRI.