Primerica Schedules Second Quarter 2020 Financial Results Webcast

Business Wire, July 8, 2020

Duluth – Primerica, Inc. (NYSE: PRI) announced today that it will hold a webcast on Thursday, August 6, 2020 at 10:00 a.m. Eastern Time to discuss the Company’s results for the second quarter ended June 30, 2020, as well as other business-related matters, including future expectations. A news release announcing the quarter’s results will be distributed on Wednesday, August 5, 2020, after the close of the market.

The earnings news release, financial supplement and live webcast will be available on the Primerica Investors website at A replay of the call will be available for approximately 30 days.


New Primerica Study Finds 86% of Middle-Income Households Have Been Financially Impacted by the Coronavirus Pandemic

Financial Preparation

Business Wire, July 2, 2020

Duluth – A new survey finds that 51% of the middle-income families who have been financially impacted by the economic fallout of the coronavirus pandemic are concerned about running out of money to pay for basic necessities by year-end. The national survey released today by Primerica, Inc. (NYSE:PRI), a leading provider of financial services to middle-income families in North America, gauges the financial outlook and preparedness of those with annual household incomes of $30,000-$100,000.

The study also reveals that 61% of middle-income Americans have had to cut spending in the wake of the pandemic, but fewer (53%) of those who had previously met with a financial professional have had to cut their overall spending.

“Primerica’s survey reaffirmed the importance of financial education and guidance in helping middle-income families safeguard their financial futures. These families are resilient, and we are encouraged that so many took steps to prepare for the unexpected,” said Glenn J. Williams, CEO of Primerica. “Primerica’s representatives are focused on helping middle-income families across North America during this difficult period.”

Financia Safety Net Chart

Key survey findings and data points about middle-income Americans and their financial situation during the pandemic include:

  • Many are reexamining how they manage their money. Of the 86% of middle-income households that said they have been financially impacted by the pandemic in at least some way, a majority (54%) are reassessing how they approach managing their money. Younger respondents, and those who feel less secure in their jobs, are the most likely to say they are now thinking differently about their money management.
  • A majority are concerned about having enough money for basic necessities by 2021. Respondents expressed deep concern about their ability to weather a medium or long-term economic downturn. Of those affected financially by the coronavirus pandemic, half (51%) do not expect to have enough money to meet their basic needs beyond December 31, 2020. Additionally, just 38% believe their personal finances will recover from the effects of the economic downturn in the next year.
  • Most of those who have recently met with a financial professional felt prepared for the financial impact caused by the coronavirus.
  • Good financial habits may protect many middle-income families from greater financial impact.


Polling was conducted online from May 15-17, 2020. Using Dynamic Online Sampling, Change Research polled 662 adults nationwide with incomes in 2019 between $30,000 and $100,000. Post-stratification weights were made on gender, age, race, education and Census region to reflect the population of these adults based on the five-year averages in the 2018 American Community Survey, published by the U.S. Census. The margin of error is 4.5%.



Duluth-based Primerica Donates $100K to Atlanta Food Bank 

Raisa Habersham, The Atlanta Journal-Constitution, May 6, 2020

Duluth – Duluth-based financial services company Primerica donated $100,000 to the Atlanta Community Food Bank to help those needing food during the COVID-19 pandemic, according to a news release.

The company donated the money through its philanthropic organization, The Primerica Foundation, in response to the growing demand at food banks, according to the release. The funds will also help increase refrigeration and storage capacity for fresh produce and perishables.

“Many in our area are facing unprecedented challenges in meeting their most essential needs,” Kathryn Kieser, Chairman and President of The Primerica Foundation. “Primerica is committed to helping people improve their financial well-being and helping them successfully navigate these uncharted waters.”

The food bank will be able to purchase roughly 30,000 pounds of food that could feed up to 25,000 people, according to the release.



Primerica Donating 5,000 Medical Masks, 100,000 Alcohol Wipes to Gwinnett Health Officials

Gwinnett Daily Post, April 2, 2020

Duluth - Gwinnett County’s health department is getting thousands of medical masks and alcohol wipes from Primerica to help with the response to the COVID-19 coronavirus disease outbreak.

Duluth-based Primerica announced on Thursday that it is donating 5,000 medical masks and 100,000 alcohol wipes to the health department. The goal is for health officials to distribute those supplies to medical providers throughout the county as needed.

The donation comes at a time when there is a high demand for personal protective equipment and other medical supplies to handle a sharp rise in people going to the hospital because of the outbreak.

“We acquired these masks and alcohol wipes years ago as part of our emergency preparedness efforts for use by employees in the event of a future medical crisis,” Primerica CEO Glenn Williams said in a statement.

“Given the pressing need at area hospitals and clinics, we are donating these materials to help ensure our frontline heroes are protected as they work to combat COVID-19.”


20 New Jobs Available at Technology Innovation Center in Gwinnett

Karen Huppertz, Atlanta Journal-Constitution, October 31, 2019

Primerica, Inc., a provider of financial services to middle income families, has opened Primerica Technology Innovation Center on Breckinridge Boulevard in unincorporated Gwinnett. The 38,000-square-foot facility, with room for over 200 employees, will serve as the epicenter of the company’s digital initiatives and business growth.

“After several years of rapid growth, the employee count at our headquarters in Gwinnett County has nearly reached capacity with over 1,800 employees,” said Glenn Williams, Primerica Chief Executive Officer. “We are excited to be relocating a large portion of our IT team to a new, state-of-the-art facility that provides our teammates with an open-concept, highly collaborative work environment. Continuing to enhance our technological capabilities is vital to our ongoing growth and is strategically important for our company.”

In the past year, Primerica added more than 80 new jobs, with over half of those being new technology positions. The company currently has approximately 20 new technology positions available.

Headquartered in Duluth, Primerica has been named a Top Workplace by the Atlanta Journal Constitution for six consecutive years from 2014 – 2019 and in 2019, Forbes named Primerica to its 2019 list of America Best Employers for Women.


Primerica Opens New Technology Innovation Center

Curt Yeomans, Gwinnett Daily Post, October 29, 2019

Primerica officials are not only looking to the future as far as how new technologies will help them serve their customers, they are now figuring out ways to make it happen.

The company teamed up with Partnership Gwinnett to unveil its new Primerica Technology Innovation Center on Breckinridge Boulevard in the Duluth area on Monday.

The 38,000-square-foot center is designed to give employees tools to “accelerate digital initiatives” and spur growth for the company, according to Primerica and Partnership Gwinnett.

“After several years of rapid growth, the employee count at our headquarters in Gwinnett County has nearly reached capacity with over 1,800 employees,” Primerica Chief Executive Officer Glenn Williams said.

“We are excited to be relocating a large portion of our IT team to a new, state-of-the-art facility that provides our teammates with an open-concept, highly collaborative work environment. Continuing to enhance our technological capabilities is vital to our ongoing growth and is strategically important for our company.”

Primerica has added about 80 new jobs in the last year and more than half of them were technology-related positions. There are about 20 technology-related jobs available at the company.

The new center will feature an open space layout with workstations designed to not only attract and retain talented workers, but also encourage collaboration and innovation among employees. It is expected to house about 200 Primerica employees.

“Companies who relocate or start their business in Gwinnett are always exciting projects, but when an existing company, like Primerica, chooses to reinvest in our community and grow in place that is the highest compliment we can receive,” Partnership Gwinnett Vice President of Economic Development Andrew Carnes said.

“This kind of announcement is a testament to the business climate and unparalleled workforce found in Gwinnett County.”

County Commissioner Jace Brooks was equally enthusiastic about the center’s opening.

“Gwinnett provides the environment, talent and infrastructure that successful companies like Primerica need to flourish,” he said. “Primerica is a valued member of the Gwinnett Community and we congratulate them on their continued growth and success.”


For Primerica, Gwinnett Great Days of Service Is Chance to Offer Large Scale Help to Community

Curt Yeomans, Gwinnett Daily Post, October 27, 2019

After three hours of hammering, gluing and fastening tiny libraries together Friday morning, Primerica volunteers participating in the annual Gwinnett Great Days of Service at Annandale Village let out a cheer.

The reason for the celebration? It wasn't because the group of 48 volunteers was done for the day. It was because they had surpassed their goal of building 60 tiny libraries for a joint project of the Community Foundation of Northeast Georgia and the Gwinnett Coalition for Health and Human Services.

In fact, the Primerica volunteers surpassed their goal by about one-third.

"Alright everyone, we've built 80 libraries so far," said Primerica Vice President of Human Resources Laura Gibbs, prompting the cheers.

Primerica has been a regular partner in the coalition's Gwinnett Great Days of Service, which began with projects on Friday and continued Saturday, for years. This year marked the 20th anniversary of Gwinnett Great Days of Service.

More than 50 community service projects were scheduled to take place throughout Gwinnett over a two-day period, according to the Gwinnett Great Days of Service website.

Projects undertaken by about 3,000 volunteers from business, churches, community groups and individual volunteers over the two-day period benefit organizations such as the HomeFirst Gwinnett Initiative; the Lawrenceville Cooperative Ministry; Sleep In Heavenly Peace-GA, Gwinnett County; and the Salvation Army of Gwinnett County.

Projects also addressed a range of community issues ranging from increasing access to books in so-called "literacy desserts" in the county to cleaning up garbage along waterways.

In the past, Primerica has done outdoor projects, such as building gardens and bocce courts for Annandale Village, for the county-wide service effort.

"Primerica always engages their employees in volunteer service, and we’re just thankful," Gwinnett Coalition Chief Operating Officer Keith Fenton said. "The impact that they'e going to have on this (tiny library) project is immeasurable."

The company's employees are involved in several other community service activities as well, including helping the Alzheimer's Association with next weekend's Walk to End Alzheimer's in Duluth. Primerica is that event's presenting sponsor.

Primerica also does food drives, blanket drives, sponsors Gwinnett Relay For Life and participates in the annual Can-A-Thon. Earlier this year, it donated a vehicle to the Red Cross to help with blood drives — and held a blood drive of its own.

“Anywhere there’s a need, you’ll see Primerica faces there,” Primerica Programs and Events Coordinator Roxanne Tigue said.

This year’s participation in Gwinnett Great Days of Service was a bit different for Primerica since the tiny library build was an indoor project.

Primerica consulted the Gwinnett Coalition for advice on projects that a greater number of employees could volunteer for regardless of skill level. Gibbs said the literacy aspect of the project also made it appealing to the company.

“It’s awesome what we’re doing for the community as far as the early learning to help those 0-5 (kids) get the right start,” Gibbs said.

That’s part of how Primerica approaches community projects.

“We look for projects that are large in scale and where we can make a difference in the community,” Gibbs said.

The coalition suggested the tiny libraries project. Before Friday, students at Maxwell High School prepared the pieces for assembly and Primerica employees then put them together Friday while the coalition brought in another group of volunteers to finish up on Saturday.

The libraries will be placed around the county in places — such as extended stay hotels, parks, co-ops or low income residential communities — that don’t have easy access to early learning books for kids under 5.

“What we’ve found is that with the brain growing as fast as it grows — from the time a child is born, we have 700 neurons per second being made — the brain will grow more in the first five years than the rest of your life,” Community Foundation of Northeast Georgia Early Learning Taskforce member John Upchurch said.

“That’s one of the reasons why this is so important.”

So once Primerica settled on the tiny library project, Gibbs and Tigue put out a call for volunteers to the company’s employees to help with the project.

Their goal was to get 40 volunteers.

Forty-eight signed up.

“We would have had more than that but we had to cut off at a certain point,” Tigue said.

Gibbs later added, “We’re always turning people away depending on the scope of the project. So that’s what we always ask the coalition for in advance: What are some of the larger scale project that are going to be done that day (to get more volunteer opportunities)?”

That — and the fact that the volunteers built 20 more tiny libraries than they had planned to assemble — is why Tigue described Primerica’s employees a group of overachievers.

“This is a community of do-ers,” Tigue said. “It’s part of the Primerica culture. They give back. We’ve got so many opportunities to volunteer at work. All we have to do is just say we’re doing something and people step up.”


Primerica Schedules Third Quarter 2019 Financial Results

Primerica, Inc. (NYSE: PRI) announced today that it will hold a webcast on Thursday, November 7, 2019 at 10:00 a.m. Eastern Time to discuss the Company's results for the third quarter ended September 30, 2019, as well as other business-related matters. A news release announcing the quarter’s results will be distributed on Wednesday, November 6, 2019, after the close of the market.

The earnings news release, financial supplement and live webcast will be available on the Primerica Investors website at A replay of the call will be available for approximately 30 days.


Primerica’s Board of Directors Elects Sanjeev Dheer as a Board Member

Press Release - Duluth, GA, October 1, 2019

Primerica, Inc. (NYSE: PRI) today announced the election of Sanjeev Dheer to the Company’s Board of Directors effective immediately. Mr. Dheer has been the Founder and Chief Executive Officer of CENTRL, a privacy management and risk platform for enterprises, since September 2015. He previously served as a consultant to Apple Inc. in the payments area from July 2014 to August 2015. In November 1999, Mr. Dheer founded CashEdge, a pioneer in developing innovative payments products for banks, which was acquired by Fiserv, a global leader in fintech and payments, in 2011. He led the CashEdge business division at Fiserv from September 2011 to June 2013. In addition, Mr. Dheer served as a Principal at McKinsey & Co., where he worked from September 1992 to October 1999. Mr. Dheer received an MBA from Stanford Business School where he was an Arjay Miller Scholar, an MA in Computer Science from Queens College, City University of New York, an MA in Economics from Washington State University, and a BA and MA in History from Delhi University. He has authored over 14 patents.

“We are thrilled to have Mr. Dheer join our Board,” said D. Richard Williams, Chairman of the Board of Primerica. “He is an expert in fintech and consumer-facing digital technologies and he has an entrepreneurial background.” Mr. Dheer said “I am excited about joining the Primerica Board. I’ve been familiar with the company for quite some time and I am looking forward to bringing my skills and experience in technology and strategic planning to the Board.”


AM Best Affirms Credit Ratings of Primerica, Inc. and Its Subsidiaries

BusinessWire, September 25, 2019

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Primerica Life Insurance Company (Nashville, TN) and its affiliates, National Benefit Life Insurance Company (Long Island City, NY) and Primerica Life Insurance Company of Canada (Mississauga, Ontario), collectively referred to as Primerica Life. Additionally, AM Best has affirmed the Long-Term ICR of “a-” of Primerica, Inc. (Primerica) (headquartered in Duluth, GA) [NYSE: PRI], which is the holding company for the group’s insurance and non-insurance operating companies. AM Best also has affirmed the Long-Term Issue Credit Rating of “a-” on $375 million 4.75% senior unsecured notes due 2022 of Primerica. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Primerica Life’s balance sheet strength, which AM Best categorizes as very strong, as well as its very strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).

Primerica Life’s ratings recognize the group’s continued risk-adjusted capitalization assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), along with the quality of its investments and favorable reserve profile, although allocation to NAIC class 2 bonds is higher than the industry average. Risk-adjusted capitalization ratios reflect a heavy reliance on captive reinsurance solutions to fund its Regulation XXX reserves associated with term life insurance, which gradually will moderate as new business is issued under principles-based reserving practices. The ratings also reflect strong liquidity, as well as solid financial leverage and interest coverage ratios that are within AM Best guidelines for these ratings.

AM Best believes that the quality of capital for an insurance operating company that has ceded XXX or AXXX reserves to a domestic or offshore captive is not as strong as for an operating company with similar risk-adjusted capital ratios that self-funds these reserves. The statutory capital growth of the operating insurance companies likely will be constrained by dividends to its ultimate parent, Primerica, which have been utilized to support higher levels of share repurchase.

Primerica Life’s earnings have been consistent with AM Best’s expectations, as the group continuously has generated solid levels of GAAP and statutory net income. There has been a continued adequate direct premium growth trend, offset by above-industry-average lapse rates. General expenses per policy also have been on an upward trend and have risen further in the current year. Statutory net income also has benefited from a reinsurance transaction entered into at the time of Primerica’s initial public offering in 2010, as statutory accounting rules require that the gain on the reinsured business be deferred and recognized as income as actual experience emerges. AM Best expects Primerica Life to maintain an underlying trend of statutory profitability of the insurance operating companies. Primerica Life’s operating profile benefits from non-insurance revenues that represent a substantial portion of overall GAAP revenues through the sale of mutual funds and other savings products, along with distribution of other manufacturers’ life and annuity products, which generates fee-based revenues and provides a source of earnings diversification.

Primerica Life’s ratings also recognize its status as one of the largest writers of term life insurance in the United States, with its continued strong market position attributable to its dedicated distribution affiliate, Primerica Financial Services, LLC. This integrated distribution and operating platform included over 130,000 life agents at the end of 2018. Primerica Life’s business profile in the United States and Canada is reinforced further by its experienced management team, which successfully built and supports its sizable sales force. Low agent retention levels require a high level of recruiting each year to maintain a competitive advantage. Offsetting these positive rating factors is Primerica Life’s somewhat narrow business profile focus on term life products, with generally stable persistency that is still in line with pricing.

AM Best is a global credit rating agency and information provider with an exclusive focus on the insurance industry. Visit for more information.