Primerica, Inc. · NYSE:PRI
Primerica — Q4 2025 Earnings Presentation
12 slides from Primerica's earnings presentation, Feb 12, 2026
Slide 1: Earnings Results Quarter Ended December 31, 2025
Earnings Results Quarter Ended December 31, 2025 For internal use only. Not to be used with, or distributed to, the public 1
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 have been modified by subsequ
Slide 3: Helping Create Financially Independent Families
Helping Create Financially Independent Families Capital-Light, Fee-Based & Brokerage-Like Returns Providing financial education and protecting families for nearly 50 years Helping clients invest and save for the future Product offerings for every stage of life For internal use only. Not to be used w
Slide 4: Resilient Business Model
Resilient Business Model Complementary Business Segments Simple, affordable protection for middle-income families Term Life Insurance Help families achieve long-term goals & grow Investment Additional products wealth & Savings that meet everyday Corporate financial needs Products & Other Products Fo
Slide 5: Full Year 2025 Financial Highlights
(1) Full Year 2025 Financial Highlights Delivered record performance and consistent earnings growth ROAE Adjusted Adjusted Adjusted Operating Net EPS Revenues Operating Income $3.3B $751M $22.92 33.1% +8% +10% +16% +200 bpt 1. Full Year 2025 GAAP Results: Total revenue $3.3B, Net income from continu
Slide 6: Strong Capital Return
Strong Capital Return 15 Years of Continued Dividend Increases $475M Share +15% repurchase Increased program 79% dividend in Q1 approved for Returned Cash 2026 2026 in 2025 (1) 1. Dividends + share repurchases divided by net operating income For internal use only. Not to be used with, or distributed
Slide 7: Q4 2025 Financial Highlights
Q4 2025 Financial Highlights (1) • Operating revenues up 8%, while NOI & EPS grew 16% & 22% Adjusted Operating Earnings Per Share (EPS) • Full year superior capital return at 79% of NOI, with strong cash generation $6.13 $5.03 • Earnings growth driven by ISP segment, fueled by strong client demand a
Slide 8: Distribution and Production Highlights: Term Life Segment
Distribution and Production Highlights Term Life Segment Issued Term Life Policies • Life-licensed sales force ended the quarter at 151,524, largely in thousands unchanged compared to prior year period 370.4 331.8 89.7 76.1 Q4 • Issued over 76,000 life insurance policies during Q4 2025 93.4 Q3 79.4
Slide 9: Distribution and Production Highlights: Investment & Savings Segment
Distribution and Production Highlights Investment & Savings Segment Total Product Sales • Mutual fund licensed sales force ended the quarter at 25,620 $ in billions $14.9 representatives, largely unchanged compared to prior year period $12.1 $4.1 • Sales force is highly engaged in ISP sales activiti
Slide 10: Operating Financial Performance: Term Life Segment
Operating Financial Performance Term Life Segment • Operating revenues were up 1%, driven by 4% growth in ADP Adjusted Direct Premiums (ADP) $ in millions • Pre-tax income of $147 million, up 5% from prior year period $682 $656 • Benefits & claims ratio 57.8% versus 58.6% prior year period — $5.2 mi
Slide 11: Operating Financial Performance: Investment & Savings Segment
Operating Financial Performance Investment & Savings Segment Total Revenues $ in millions • Operating revenues up 19%, while operating income before taxes $340 $286 $3 increased 23% from strong sales and higher client asset values $24 $3 $24 Other, net $181 Account-based $150 • Sales-based revenues
Slide 12: High Quality, Conservative Investment Portfolio
High Quality, Conservative Investment Portfolio Key Portfolio Metrics (1) • High quality, well diversified portfolio Approximate Effective Duration 5.2 years Approximate Book Yield 4.3% • Net unrealized loss of $113 million at December 31, 2025 — Unrealized loss is a function of interest rates and n