Primerica, Inc. · NYSE:PRI
Primerica — Q4 2024 Earnings Presentation
9 slides from Primerica's earnings presentation, Feb 12, 2025
Slide 1: Earnings Results Quarter Ended December 31, 2024
Earnings Results Quarter Ended December 31, 2024
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, 2023, as may be modified by subsequent For
Slide 3: Financial Highlights
Financial Highlights GAAP Financial Results ● 2024 reflected the strength of our business ($ in millions, except per share amounts) Q4 2024 Q4 2023 % Change model and our ability to create value for all Revenues $788.1 $706.2 12% stakeholders Income from continuing operations $167.7 $153.8 9% Loss f
Slide 4: Distribution Highlights
Distribution Highlights Sales Force ● Compelling business opportunity continued to Distribution Q4 2024 Q4 2023 % Change drive momentum in recruiting and licensing Recruits 95,497 89,992 6% — Strong recruiting contributed to a 12% increase New life-licensed representatives 14,620 13,029 12% in the n
Slide 5: Production Highlights - Term Life Insurance
Production Highlights Term Life Insurance Production ● Issued $30 billion of new term life protection ($ in billions) Q4 2024 Q4 2023 % Change for a total of $954 billion in force protection Issued life insurance policies 89,664 88,757 1% at quarter end Productivity(1) 0.20 0.21 NM ● Issued nearly 8
Slide 6: Production Highlights - Investment and Savings Products
Production Highlights Investment and Savings Products Production ● Strong client demand continued to drive ($ in billions) Q4 2024 Q4 2023 % Change product sales, increasing 41% year-over-year Total product sales $3.3 $2.4 41% — Variable annuity sales benefitted from demand Client asset values(1) $1
Slide 7: Operating Results - Term Life Segment
Operating Results Term Life Segment ($ in millions) Q4 2023 % Change ● Operating revenues up 4%, driven by 6% ADP Q4 2024 growth Direct premiums $850.7 $829.9 3% ● Actuarial model refinement during the quarter Premium ceded to IPO coinsurers(1) ($195.0) ($210.3) 7% led to a $4.2 million remeasuremen
Slide 8: Operating Results - Investment & Savings Products Segment
Operating Results Investment & Savings Products Segment ($ in millions, except as noted) Q4 2024 Q4 2023 % Change Sales-based revenues $108.2 $76.3 42% ● Operating revenues increased 29%, Asset-based revenues $150.2 $118.3 27% while operating income before taxes Account-based revenues $24.2 $24.0 1%
Slide 9: Insurance & Operating Expense Highlights
Insurance & Operating Expense Highlights ● Adjusted insurance and other operating ($ in millions) Cons* Life ISP Corp expenses of $152 million grew 13% year- Q4 2023 Consolidated Insurance & $134.2 $56.1 $41.9 $36.2 Other Operating Expenses* over-year Employee-related expenses $8.4 $2.0 $1.3 $5.2 —