Primerica Set to Open 2017 International Convention in Indianapolis

Press Release, June 12, 2017

Primerica to Celebrate Unprecedented Growth at Lucas Oil Stadium Event

Beginning Wednesday, an expected 45,000 people will converge on Indianapolis to attend the 2017 Primerica International Convention at the Indianapolis Convention Center and Lucas Oil Stadium, June 14-17, 2017. The biennial event will celebrate record achievements in meeting the financial needs of Main Street clients and the extraordinary success of our Field Leadership. It also will set the stage for continued growth throughout 2017 and beyond.

Glenn Williams, Primerica CEO, said, “Our Company and our Field Leadership have experienced a period of unprecedented growth since our 2015 Convention. At that meeting, we set several ambitious goals to achieve before our 2017 event – I’m proud that we’ve met or exceeded every one of them. I’m particularly excited about the growth in the size of sales force over the past 24 months: As of May 31, 2017, our sales force has exceeded 120,000 life insurance licensed representatives. These men and women are committed to doing what’s right for their clients and for their teammates, every day.

“Our sales force growth comes at a time when our clients need our help the most. It’s widely accepted that there is a significant life insurance protection gap in North America, with some estimates reaching as high as $12 trillion. Additionally, studies show that most families are not saving enough for retirement. Our sales force and Field Leadership stand ready to help more families take control of their finances and make a real difference in the lives of our clients.”

This event will be even more significant as we celebrate the Company’s 40th anniversary. In February 1977, a small group of visionary business leaders founded a company to help Main Street families find the right kind of insurance and help them save for retirement. Now, more than 4 decades later, Primerica has become a leading distributor of financial products to middle income households in North America.

“Our Convention provides an opportunity for us to highlight the accomplishments from our first 40 years in business and to set the course for the next 40 years. Tens of thousands of our teammates will meet in the Lucas Oil Stadium where they will learn from dynamic leaders, attend workshops and seminars, and enhance their skills. We will use this forum to build on the strong momentum we achieved in the first half of 2017 as we work to maximize the many opportunities that lie ahead for our clients, our Field Leaders, and our Company. Primerica is ideally positioned to meet the evolving needs of Main Street families now and for years to come.”


Primerica Reports First Quarter 2017 Results

BusinessWire, May 09, 2017

9% increase in life insurance licensed representatives to 117,907

6% growth in life insurance policies issued

15% increase in Investment and Savings Products (ISP) sales

21% growth in net earnings per diluted share (EPS) and 19% growth in adjusted operating EPS to $1.11

Primerica, Inc. (NYSE: PRI) today announced financial results for the quarter ended March 31, 2017. In the first quarter, total revenues increased 12% and adjusted operating revenues increased 11% to $405.2 million and $405.0 million, respectively. Net income grew 15% to $52.1 million and adjusted net operating income grew 14% to $52.0 million compared with the first quarter of 2016.

Glenn Williams, Chief Executive Officer, said, “We achieved a 21% increase in EPS and a 130 basis points increase in return on equity (ROE) compared to the first quarter a year ago reflecting solid earnings and ongoing share repurchases. Strong organic growth continued with our life insurance licensed sales force reaching almost 118,000 representatives and a 6% year-over-year growth in life insurance policies issued. In addition, our Investment and Savings Products sales grew 15% year-over-year to a record $1.6 billion in first quarter 2017. We are optimistic about the future and our ability to drive growth and deliver long-term value for all of our stakeholders.”

First quarter results reflect a 13% increase in Term Life net premiums. Continued organic growth was partially offset by weaker persistency and claims experience during the quarter. Strong ISP performance was driven by 15% growth in both sales and average client asset values year-over-year. Insurance and other operating expenses, which are typically highest in the first quarter due to annual employee equity award grants, increased year-over-year from growth in the size of the business, annual employee merit increases and continued development of technology platforms. During the quarter, earnings growth and continued share repurchases drove EPS and adjusted operating EPS both to $1.11, increasing 21% and 19%, respectively, compared to the first quarter a year ago. ROE expanded to 16.9% and adjusted operating ROAE expanded to 17.5% in the first quarter versus 15.6% and 16.3%, respectively, in the prior year period.

First Quarter Distribution & Segment Results

Distribution Results

Q1 2017

Q1 2016

% Change

Q4 2016

% Change

Life Licensed Sales Force (1)

117,907

108,220

9

%

116,827

1

%
Recruits

70,983

63,427

12

%

60,326

18

%
New Life-Licensed Representatives

10,903

9,666

13

%

11,148

(2

)%
Life Insurance Policies Issued

70,642

66,376

6

%

79,110

(11

)%
Life Productivity (2)

0.20

0.21

*

0.23

*

ISP Product Sales ($ billions)

$

1.59

$

1.38

15

%

$

1.41

13

%
Average Client Asset Values ($ billions)

$

53.82

$

46.65

15

%

$

51.45

5

%

(1)

End of period

(2)

Life productivity equals policies issued divided by the average number of life insurance licensed representatives per month
* Not calculated or less than 1%

Segment Results

Q1 2017

Q1 2016

% Change

Q4 2016

% Change

($ in thousands)

Adjusted Operating Revenues: (1)
Term Life Insurance

$

234,051

$

206,095

14

%

$

227,128

3

%
Investment and Savings Products

140,407

124,918

12

%

137,016

2

%
Corporate and Other Distributed Products

30,572

32,370

(6

)%

28,255

8

%
Total adjusted operating revenues (1)

$

405,030

$

363,383

11

%

$

392,399

3

%
Adjusted Operating Income (Loss) before

income taxes:(1)

Term Life Insurance

$

49,022

$

46,078

6

%

$

51,127

(4

)%
Investment and Savings Products

37,119

31,691

17

%

40,840

(9

)%
Corporate and Other Distributed Products

(11,433

)

(6,774

)

69

%

(6,368

)

80

%
Total adjusted operating income before income taxes (1)

$

74,708

$

70,995

5

%

$

85,599

(13

)%

(1)

See the Non-GAAP Financial Measures section and the segment Adjusted Operating Results Reconciliations at the end of this release for additional information.

Life Insurance Licensed Sales Force. Strong recruiting and licensing trends in recent quarters resulted in 9% year-over-year growth in the life insurance licensed sales force to 117,907 representatives at the end of the first quarter. Recruiting of new representatives increased 12% and new life insurance licenses were 13% higher than the prior year period. On a sequential quarter basis, recruiting increased 18% from the typically slower holiday season and new life insurance licenses declined 2% as a result of typically lower recruiting levels in the fourth quarter.

Term Life Insurance. In the first quarter of 2017, Term Life insurance policies issued increased 6% year-over-year reflecting the larger life insurance licensed sales force and productivity of 0.20 policies per life insurance licensed representative per month. While still in the historical range, productivity was moderately lower than recent quarters due to seasonality in the first quarter following the slower holiday season. Term Life revenues increased 14% to $234.1 million compared with the year ago period, driven by a 13% increase in net premiums from higher levels of issued policies in recent years and the growth of in-force business not subject to IPO-related coinsurance agreements. Income before income taxes increased 6% to $49.0 million year-over-year. Deferred acquisition costs amortization was higher than expected in the first quarter with $2.5 million related to weaker persistency and approximately $1.5 million attributable to certain policies held by clients in Louisiana that we restricted from lapsing in 2016 at the state insurance department’s request due to severe flooding last year. Many of these policies ultimately lapsed in the first quarter once the restriction was removed. Benefits and claims were about $3 million higher than expected during the quarter reflecting a frequency of claims above historical trends, partially offset by lower reserve increases from weaker persistency experience. Insurance expenses increased $4.7 million year-over-year primarily due to growth-related costs, annual employee merit increases and technology spending. Additional costs to enhance our sales force’s mobile technology capabilities were largely offset by growth in other net revenues.

Investment and Savings Products. In the first quarter, ISP revenues increased 12% to $140.4 million and income before income taxes grew 17% to $37.1 million compared with the year ago period. Product sales grew 15% year-over-year with U.S. retail mutual fund sales increasing 25% and variable annuity sales declining 5% consistent with recent industry trends. Sales-based revenue growth lagged revenue-generating sales growth due to the mix of product sales during the quarter. Net flows were positive $320 million and client asset values increased 14% to $54.9 billion at the end of the first quarter. Account-based revenue grew 17% year-over-year largely related to a change made in the account-based fee structure in the fourth quarter of 2016 as well as a higher number of accounts than the prior year period. ISP expenses increased approximately $2.5 million from the year ago period largely due to costs related to growth in the business, the launch of the Primerica Advisors Lifetime Investment Platform and technology enhancements.

Corporate and Other Distributed Products (C&O). C&O adjusted operating revenues were $30.6 million and adjusted operating losses before income taxes were $11.4 million in the first quarter of 2017. Net investment income was negatively impacted by lower portfolio yield than in the prior year period, offset by a larger invested asset portfolio. The impact on net investment income from the mark-to-market on the deposit asset backing an IPO-related reinsurance agreement was negligible in the first quarter of 2017; however, the prior year period included an approximate $1 million positive mark-to-market adjustment. Net unrealized gains increased to $73.0 million at quarter-end from $65.8 million at December 31, 2016.

Taxes

The effective income tax rate for the first quarter of 2017 was 30.4%, down from 35.7% in the prior year period, primarily reflecting excess tax benefits of $3.3 million from the adoption of Accounting Standards Update 2016-09, which requires the excess tax benefit or expense for the difference between the stock price of equity awards at the time of grant and vesting to be recorded in the income statement rather than directly to equity in the balance sheet. Also impacting the tax rate was the recognition of approximately $0.7 million of certain tax benefits for which the statute of limitations expired during the first quarter.

Capital

Primerica repurchased $29.8 million or 382,657 shares of its common stock in the first quarter of 2017. Primerica Life Insurance Company’s statutory risk-based capital (RBC) ratio was estimated to be approximately 440% as of March 31, 2017.

Non-GAAP Financial Measures

We report financial results in accordance with U.S. generally accepted accounting principles (GAAP). We also present adjusted direct premiums, other ceded premiums, adjusted operating revenues, adjusted operating income before income taxes, net adjusted operating income, adjusted stockholders’ equity and diluted adjusted operating earnings per share. Adjusted direct premiums and other ceded premiums are net of amounts ceded under coinsurance transactions that were executed concurrent with our initial public offering (IPO) for all periods presented. We exclude amounts ceded under the IPO coinsurance transactions in measuring adjusted direct premiums and other ceded premiums to present meaningful comparisons of the actual premiums economically maintained by the Company. Amounts ceded under the IPO coinsurance transactions will continue to decline over time as policies terminate within this block of business. Adjusted operating revenues, adjusted operating income before income taxes, net adjusted operating income, and diluted adjusted operating earnings per share exclude the impact of realized investment gains and losses, including other-than-temporary impairments (OTTI), for all periods presented. We exclude realized investment gains and losses in measuring adjusted operating revenues to eliminate period-over-period fluctuations that may obscure comparisons of operating results due to items such as the timing of recognizing gains and losses and other factors prior to an invested asset's maturity that are not directly associated with the Company's insurance operations. Adjusted stockholders' equity excludes the impact of net unrealized investment gains and losses recorded in other comprehensive income (loss) for all periods presented. We exclude unrealized investment gains and losses in measuring adjusted stockholders' equity as unrealized gains and losses from the Company's invested assets are largely caused by market movements in interest rates and credit spreads that do not necessarily correlate with the cash flows we will ultimately realize when an invested asset matures or is sold.

The definitions of these non-GAAP financial measures may differ from the definitions of similar measures used by other companies. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating financial performance. Furthermore, management believes that these non-GAAP financial measures may provide users with additional meaningful comparisons between current results and results of prior periods as they are expected to be reflective of the core ongoing business. These measures have limitations, and investors should not consider them in isolation or as a substitute for analysis of the results as reported under GAAP. Reconciliations of GAAP to non-GAAP financial measures are attached to this release.

Earnings Webcast Information

Primerica will hold a webcast Wednesday, May 10, 2017 at 10:00 am EDT, to discuss first quarter results. This release and a detailed financial supplement will be posted on Primerica’s website. Investors are encouraged to review these materials. To access the webcast go to http://investors.primerica.com at least 15 minutes prior to the event to register, download and install any necessary software.

A replay of the call will be available for approximately 30 days on Primerica’s website, http://investors.primerica.com.

Forward-Looking Statements

Except for historical information contained in this press release, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contain known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from anticipated or projected results. Those risks and uncertainties include, among others, our failure to continue to attract and license new recruits, retain sales representatives or license or maintain the licensing of our sales representatives; changes to the independent contractor status of our sales representatives; our or our sales representatives’ violation of or non-compliance with laws and regulations or the failure to protect the confidentiality of client information; differences between our actual experience and our expectations regarding mortality, persistency, expenses and interests rates as reflected in the pricing for our insurance policies; the occurrence of a catastrophic event that causes a large number of premature deaths of our insureds; changes in federal and state legislation, including other legislation or regulation that affects our insurance and investment product businesses, such as the DOL’s rule defining who is a “fiduciary” of a qualified retirement plan as a result of giving investment advice; our failure to meet RBC standards or other minimum capital and surplus requirements; a downgrade or potential downgrade in our insurance subsidiaries’ financial strength ratings or our senior debt ratings; the effects of credit deterioration and interest rate fluctuations on our invested asset portfolio; incorrectly valuing our investments; inadequate or unaffordable reinsurance or the failure of our reinsurers to perform their obligations; the failure of, or legal challenges to, the support tools we provide to our sales force; heightened standards of conduct or more stringent licensing requirements for our sales representatives; inadequate policies and procedures regarding suitability review of client transactions; the failure of our investment products to remain competitive with other investment options or the change to investment and savings products offered by key providers in a way that is not beneficial to our business; fluctuations in the performance of client assets under management; the inability of our subsidiaries to pay dividends or make distributions; our inability to generate and maintain a sufficient amount of working capital; our non-compliance with the covenants of our senior unsecured debt; legal and regulatory investigations and actions concerning us or our sales representatives; the loss of key personnel; the failure of our information technology systems, breach of our information security or failure of our business continuity plan; and fluctuations in Canadian currency exchange rates . These and other risks and uncertainties affecting us are more fully described in our filings with the Securities and Exchange Commission, which are available in the "Investor Relations" section of our website at http://investors.primerica.com. Primerica assumes no duty to update its forward-looking statements as of any future date.

About Primerica, Inc.

Primerica, Inc., headquartered in Duluth, GA, is a leading distributor of financial products to middle income households in North America. Primerica representatives educate their Main Street clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. In addition, Primerica provides an entrepreneurial full or part-time business opportunity for individuals seeking to earn income by distributing the company’s financial products. We insured approximately 5 million lives and have over 2 million client investment accounts at December 31, 2016. Primerica stock is included in the S&P MidCap 400 and the Russell 2000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.

PRIMERICA, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Unaudited)

March 31, 2017

December 31, 2016

(In thousands)

Assets
Investments:
Fixed-maturity securities available-for-sale, at fair value

$

1,832,228

$

1,792,438

Fixed-maturity securities-held-to-maturity, at amortized cost

535,160

503,230

Equity securities available-for-sale, at fair value

46,437

44,894

Trading securities, at fair value

12,737

7,383

Policy loans

32,969

30,916

Total investments

2,459,531

2,378,861

Cash and cash equivalents

185,762

211,976

Accrued investment income

17,654

16,520

Due from reinsurers

4,219,547

4,193,562

Deferred policy acquisition costs, net

1,767,681

1,713,065

Agent balances, due premiums and other receivables

215,567

210,448

Intangible assets, net

54,065

54,915

Income taxes

37,731

37,369

Other assets

356,139

334,274

Separate account assets

2,356,320

2,287,953

Total assets

$

11,669,997

$

11,438,943

Liabilities and Stockholders' Equity
Liabilities:
Future policy benefits

$

5,736,313

$

5,673,890

Unearned premiums

511

527

Policy claims and other benefits payable

268,397

268,136

Other policyholders' funds

373,733

363,038

Notes payable

373,011

372,919

Surplus note

534,435

502,491

Income taxes

237,719

225,006

Other liabilities

449,734

449,963

Payable under securities lending

93,326

73,646

Separate account liabilities

2,356,320

2,287,953

Total liabilities

10,423,499

10,217,569

Stockholders' equity:
Common stock

455

457

Paid-in capital

28,606

52,468

Retained earnings

1,182,039

1,138,851

Accumulated other comprehensive income, net of income tax

35,398

29,598

Total stockholders' equity

1,246,498

1,221,374

Total liabilities and stockholders' equity

$

11,669,997

$

11,438,943

PRIMERICA, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income

(Unaudited)

Three months ended March 31,

2017

2016

(In thousands, except per-share amounts)

Revenues:
Direct premiums

$

627,698

$

597,130

Ceded premiums

(399,769

)

(395,333

)
Net premiums

227,929

201,797

Commissions and fees

144,268

128,821

Net investment income

19,894

21,238

Realized investment gains (losses), including OTTI

134

(783

)
Other, net

12,939

11,527

Total revenues

405,164

362,600

Benefits and expenses:
Benefits and claims

102,385

90,977

Amortization of deferred policy acquisition costs

51,850

43,129

Sales commissions

73,704

66,643

Insurance expenses

37,621

33,130

Insurance commissions

4,899

4,147

Interest expense

7,127

7,173

Other operating expenses

52,736

47,189

Total benefits and expenses

330,322

292,388

Income before income taxes

74,842

70,212

Income taxes

22,772

25,036

Net income

$

52,070

$

45,176

Earnings per share:
Basic earnings per share

$

1.12

$

0.92

Diluted earnings per share

$

1.11

$

0.92

Shares used in computing earnings per share:
Basic

46,301

48,550

Diluted

46,374

48,574

PRIMERICA, INC. AND SUBSIDIARIES

Consolidated Adjusted Operating Results Reconciliation

(Unaudited – in thousands, except per share amounts)

Three months ended March 31,

2017

2016

% Change

Total revenues

$

405,164

$

362,600

12

%
Less: Realized investment gains (losses), including OTTI

134

(783

)
Adjusted operating revenues

$

405,030

$

363,383

11

%
Income before income taxes

$

74,842

$

70,212

7

%
Less: Realized investment gains (losses), including OTTI

134

(783

)
Adjusted operating income before income taxes

$

74,708

$

70,995

5

%
Net income

$

52,070

$

45,176

15

%
Less: Realized investment gains (losses), including OTTI

134

(783

)
Less: Tax impact of reconciling items

(41

)

279

Net adjusted operating income

$

51,977

$

45,680

14

%
Diluted earnings per share (1)

$

1.11

$

0.92

21

%
Less: Net after-tax impact of operating adjustments

0.00

(0.01

)
Diluted adjusted operating earnings per share (1)

$

1.11

$

0.93

19

%

(1)

Percentage change in earnings per share is calculated prior to rounding per share amounts.

TERM LIFE INSURANCE SEGMENT

Adjusted Premiums Reconciliation

(Unaudited – in thousands)

Three months ended March 31,

2017

2016

Direct premiums

$

620,379

$

589,244

Less: Premiums ceded to IPO coinsurers

312,982

321,494

Adjusted direct premiums

$

307,397

$

267,750

Ceded premiums

$

(398,077

)

$

(393,270

)
Less: Premiums ceded to IPO coinsurers

(312,982

)

(321,494

)
Other ceded premiums

$

(85,095

)

$

(71,776

)
Net premiums

$

222,302

$

195,974

CORPORATE AND OTHER DISTRIBUTED PRODUCTS SEGMENT

Adjusted Operating Results Reconciliation

(Unaudited – in thousands)

Three months ended March 31,

2017

2016

Total revenues

$

30,706

$

31,586

Less: Realized investment gains (losses), including OTTI

134

(783

)
Adjusted operating revenues

$

30,572

$

32,369

Loss before income taxes

$

(11,299

)

$

(7,557

)
Less: Realized investment gains (losses), including OTTI

134

(783

)
Adjusted operating loss before income taxes

$

(11,433

)

$

(6,774

)

PRIMERICA, INC. AND SUBSIDIARIES

Adjusted Stockholders' Equity Reconciliation

(Unaudited – in thousands)

March 31, 2017

December 31, 2016

Stockholders' equity

$

1,246,498

$

1,221,374

Less: Unrealized net investment gains recorded

in stockholders' equity, net of income tax

47,479

42,791

Adjusted stockholders' equity

$

1,199,019

$

1,178,583


Primerica Announces New Lifetime Investment Platform

Primerica, Inc. (NYSE: PRI) today announced a major investment service enhancement: the Primerica Advisors Lifetime Investment Platform. Primerica’s innovative new platform provides clients access to fee-based asset management services that are focused on helping Main Street clients achieve their goals and objectives throughout their investing lifecycle.

Primerica’s platform has both strategic and tactical portfolios constructed with exchange traded funds, mutual funds, and other investment products built by some of the leading money managers in the industry, including Horizon Investments, Invesco, Lockwood Advisors, Meeder Investment Management, Morningstar Investment Management LLC, and Sage Advisory. Approximately 3,200 of Primerica’s 18,000 U.S. mutual fund licensed representatives are also investment advisor representatives and will be able to offer the new products.

“Our new platform incorporates state-of-the-art technology and significantly expanded product offerings from leading investment strategists. Importantly, it provides new ways for Primerica representatives to serve their clients by offering investment portfolios specifically constructed to solve the accumulation, protection, and income needs of each client,” said Bill Kelly, President of PFS Investments. “Working together, clients and their Primerica advisors will use the platform's guiding technology to align manager selection with a client’s preferences and investing needs. The new platform will give our representatives the ability to blend portfolio strategies, thereby providing a new world of opportunities to both new and existing clients.”

As part of its organic growth strategy, Primerica works to meet the evolving needs of Main Street families by growing distribution and selectively adding products. Primerica CEO Glenn Williams notes that the Company continues to successfully execute against this strategy and that the timing is right for this major platform introduction.

“Given the strong distribution and sales momentum we’ve achieved in the early months of 2017, we believe this is the ideal time to expand our Investment and Savings Products with the launch of our new platform,” said Williams. “In the first quarter of 2017, we saw a 9% year-over-year increase in the size of our life insurance licensed sales force, taking our total to 117,907 representatives as of March 31, 2017. Sales force growth led to solid distribution and production results in this year’s first quarter compared to the prior year period, including an expected 12% increase in recruiting of new representatives; a 13% increase in new life insurance licenses; a 6% increase in issued term life insurance policies; and a 9% increase in issued term life face amount. In our Investment and Savings Product segment, first quarter 2017 sales were up approximately 15% over the prior year period. I am proud of the leadership provided by our sales representatives and their outstanding performance so far in the year. We look forward to better serving our investment clients with our dynamic new platform.”


Board of Directors of Primerica, Inc. Declares $0.19 Quarterly Dividend

BusinessWire, February 7, 2017

Quarterly Dividend Increased $0.01 from $0.18 Paid in the Prior Quarter

The Board of Directors of Primerica, Inc. (NYSE: PRI), a leading distributor of financial products to middle income households in North America, today approved payment of a quarterly dividend of $0.19 per share for the fourth quarter of 2016, which reflects an increase of $0.01 per share over the previous dividend. The dividend will be payable on March 17, 2017, to stockholders of record as of February 20, 2017.

“2016 was another outstanding year for Primerica. We achieved strong distribution growth and returned a significant portion of operating earnings to stockholders through stock repurchases.”

“2016 was another outstanding year for Primerica. We achieved strong distribution growth and returned a significant portion of operating earnings to stockholders through stock repurchases,” said CEO Glenn Williams. “Today’s dividend increase reinforces our ongoing commitment to delivering value to our stockholders.”


Primerica Wins Fourteenth Consecutive DALBAR Mutual Fund Service Award

Press Release, January 11, 2017

Recently, DALBAR awarded Primerica the 2016 DALBAR Mutual Fund Service Award for exemplary customer service to its mutual funds clients for the fourteenth year in a row. For nearly three decades, DALBAR has conducted rigorous testing of service delivery and each year identifies those mutual fund firms that were found to be above their peers in service to clients after a full year of comprehensive evaluation.

“Primerica places real value on the customer experience and has made outstanding service a core part of their brand,” said Brendan Yeager, Director at DALBAR. “This achievement underscores Primerica's commitment to consistently delivering a superior standard of care.”

Gregory Pitts, Primerica’s Chief Operating Officer said, “Customer service always has been a top priority at Primerica. We continue to enhance servicing processes to deliver an excellent client experience. As part of our strategy to grow Primerica’s Investment and Saving Products business, we continue to add new products and look for ways to improve customer service through technology enhancements, such as the upcoming launch of our enhanced managed accounts platform. This new platform will help us meet the evolving needs of the millions of Main Street clients that we’re privileged to serve every day. We are very proud to receive DALBAR’s 2016 Mutual Fund Service Award recognizing our ongoing commitment to superior customer service during a year in which we achieved a record of more than $51 billion in client assets under management as of December 31, 2016.”

About DALBAR, Inc.
DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of insurance companies, investment companies, registered investment advisers, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.


Primerica Announces Senior Leadership Meeting in Indianapolis to Kick off 2017

BusinessWire, January 3, 2017

Primerica, Inc. (NYSE:PRI) announced it is hosting more than 700 top representatives from across the United States and Canada for its Senior Leadership Meeting in Indianapolis on January 4-5, 2017. The event will focus on sales force and client initiatives for 2017, in addition to celebrating Primerica’s record-breaking success in 2016.

“Our field force is the most important factor of our success, and I am proud of the leadership provided by our representatives and their outstanding performance. I look forward to the accomplishments of the coming year.”

Glenn Williams, Chief Executive Officer, said, “We achieved record results in 2016, including attaining our strongest distribution numbers since becoming a public company in 2010. Our solid, across-the-board performance is evidence of our company-wide momentum and outstanding field leadership. In 2017, we plan to capitalize on this momentum by continuing to meet the financial needs of Main Street clients across North America, and by focusing on the power of our field force.”

Ongoing efforts to expand distribution resulted in the company ending the year with a sales force of 116,827 life-licensed representatives at December 31, 2016, a year-over-year increase of more than 9%.

Sales force growth led to strong performance in 2016 (numbers are projected and growth is comparing 2016 with 2015 or measured at December 31):

  • Recruiting of New Representatives: Up 15%
  • New Life Insurance Licenses: Up 12%
  • Issued Term Life Insurance Policies: Up 14%
  • New Term Life Insurance Face Amount Issued: Approximately $90 billion
  • Term Life Insurance Policies Face Amount in Force: $728 billion

“Our field force is the most important factor of our success, and I am proud of the leadership provided by our representatives and their outstanding performance. I look forward to the accomplishments of the coming year,” says Williams.

Earnings Webcast Information
Primerica will hold a webcast Thursday, February 9, 2017 at 10:00 am ET, to discuss fourth quarter 2016 results. The news release announcing these earnings results will be distributed on Wednesday, February 8, 2017, after the close of the market (the release and a detailed financial supplement will be posted on Primerica’s website). Investors are encouraged to review these materials. To access the webcast go to http://investors.primerica.com at least 15 minutes prior to the event to register, download and install any necessary software.

A replay of the call will be available for approximately 30 days on Primerica’s website, http://investors.primerica.com.

*Compensation paid to the sales force reflects combined U.S. and Canadian dollars remaining in the local currency earned by the representative. Exchange rates fluctuate daily.

Forward-Looking Statements
Except for historical information contained in this press release, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contain known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from anticipated or projected results. Those risks and uncertainties include, among others, our failure to continue to attract and license new recruits, retain sales representatives or license or maintain the licensing of our sales representatives; changes to the independent contractor status of our sales representatives; our or our sales representatives’ violation of or non-compliance with laws and regulations or the failure to protect the confidentiality of client information; differences between our actual experience and our expectations regarding mortality, persistency, expenses and interests rates as reflected in the pricing for our insurance policies; the occurrence of a catastrophic event that causes a large number of premature deaths of our insureds; changes in federal and state legislation, including other legislation or regulation that affects our insurance and investment product businesses, such as the DOL’s regulation defining who is a “fiduciary” with respect to transactions involving qualified retirement plans; our failure to meet RBC standards or other minimum capital and surplus requirements; a downgrade or potential downgrade in our insurance subsidiaries’ financial strength ratings or our senior debt ratings; the effects of credit deterioration and interest rate fluctuations on our invested asset portfolio; incorrectly valuing our investments; inadequate or unaffordable reinsurance or the failure of our reinsurers to perform their obligations; the failure of, or legal challenges to, the support tools we provide to our sales force; heightened standards of conduct or more stringent licensing requirements for our sales representatives; inadequate policies and procedures regarding suitability review of client transactions; the failure of our investment products to remain competitive with other investment options or the change to investment and savings products offered by key providers in a way that is not beneficial to our business; fluctuations in the performance of client assets under management; the inability of our subsidiaries to pay dividends or make distributions; our inability to generate and maintain a sufficient amount of working capital; our non-compliance with the covenants of our senior unsecured debt; legal and regulatory investigations and actions concerning us or our sales representatives; the loss of key personnel; the failure of our information technology systems, breach of our information security or failure of our business continuity plan; and fluctuations in Canadian currency exchange rates. These and other risks and uncertainties affecting us are more fully described in our filings with the Securities and Exchange Commission, which are available in the “Investor Relations” section of our website at http://investors.primerica.com. Primerica assumes no duty to update its forward-looking statements as of any future date.

About Primerica, Inc.