Primerica, Inc. · NYSE:PRI
Primerica — Q1 2025 Earnings Presentation
9 slides from Primerica's earnings presentation, May 8, 2025
Slide 1: Earnings Results
Earnings Results Quarter Ended March 31, 2025 @® PRIMERICA
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements This presentation may contain forward-looking statements. Information on factors that could cause results to differ materially from those projected in this presentation is available in our Form 10-K for the year ended December 31, 2024, as may be modified by subsequent For
Slide 3: Financial Highlights
Financial Highlights GAAP Financial Results ● Delivered solid earnings and return, with 19% ($ in millions, except per share amounts) Q1 2025 Q1 2024 % Change EPS growth (20% operating EPS) and 30.0% Revenues $804.8 $735.9 9% ROE (30.4% ROAE) Income from continuing operations $169.1 $148.4 14% Loss
Slide 4: Distribution Highlights
Distribution Highlights Sales Force ● Recruiting and licensing remained strong Distribution Q1 2025 Q1 2024 % Change relative to historical levels, contributing to Recruits 100,867 110,710 (9%) continued growth in sales force New life-licensed representatives 12,339 12,949 (5%) Life-licensed sales f
Slide 5: Production Highlights: Term Life Insurance
Production Highlights Term Life Insurance Production ● Issued over 86,000 life insurance policies ($ in billions) Q1 2025 Q1 2024 % Change during Q1 2025 Issued life insurance policies 86,415 86,587 NM Productivity(1) 0.19 0.20 NM — Cost of living pressures remained a headwind for Issued face amount
Slide 6: Production Highlights: Investment and Savings Products
Production Highlights Investment and Savings Products Production ● Record product sales of $3.6 billion, up 28% ($ in billions) Q1 2025 Q1 2024 % Change year-over-year Total product sales $3.6 $2.8 28% Client asset values(1) $109.9 $103.3 6% — Strong investor demand for mutual funds, Average client
Slide 7: Operating Results: Term Life Segment
Operating Results Term Life Segment ($ in millions) Q1 2025 Q1 2024 % Change ● Operating revenues rose 4%, driven by 5% Direct premiums $854.4 2% $836.3 ADP growth Premium ceded to IPO coinsurers(1) ($191.5) ($206.5) 7% Adjusted direct premiums (ADP)(2) $663.0 $629.8 5% ● Key financial ratios in lin
Slide 8: Operating Results: Investment & Savings Products Segment
Operating Results Investment & Savings Products Segment ($ in millions, except as noted) Q1 2025 Q1 2024 % Change Sales-based revenues $111.3 $88.7 25% ● Operating revenues increased 19%, while Asset-based revenues $152.0 $128.5 18% operating income before taxes up 24% Account-based revenues $24.2 $
Slide 9: Insurance & Operating Expense Highlights
Insurance & Operating Expense Highlights ● Consolidated insurance and other operating ($ in millions) Q1 2025 Q1 2024 % Change expenses were $163 million, up 4% year- Term Life $63.6 $62.0 3% over-year ISP $51.4 $46.5 10% Corporate & Other $48.1 $48.1 - — Increased variable costs driven by productio