Primerica, Inc. (NYSE: PRI) is hosting its top representatives from across the United States and Canada for its Senior Leadership Meeting in Atlanta.
The event, which began yesterday and will run through today, will largely focus on new sales force and client initiatives for 2019.
The meeting will also celebrate Primerica's ongoing success in 2018, including term life insurance face amount in force of approximately $782 billion at year end, as well as record-breaking Investment and Savings Products sales of $7 billion, an increase of 13 percent year-over-year.
“2018 was another outstanding year for Primerica as we continued to execute our strategy to drive growth and improve performance by expanding distribution and prudently deploying capital,” said Glenn Williams, chief executive officer. “We ended the year with a sales force of more than 130,700 life insurance-licensed representatives and more than 25,000 mutual fund-licensed representatives, both of which represent the highest counts since the company went public in 2010. Our diverse, talented sales force is our biggest competitive advantage, and it positions us well to continue providing exemplary service and financial products to middle income families while delivering long-term value for all of our stakeholders.”
Additional 2018 production results include:
- Recruiting of New Representatives: 291,000
- Term Life Insurance Face Amount Issued: $95 billion
- Term Life Insurance Claims Paid to Policy Beneficiaries: $1.4 billion
- Client Asset Values of approximately $56 billion at year end
- Compensation Paid to the Sales Force of approximately $790 million
“In 2019, we plan to refine our clients' experience, evaluate new product offerings, and enhance distribution capabilities for our representatives,” said Williams. “The middle-income market's need for income protection and retirement savings is greater than ever. Thanks to the strong leadership of our sales force, I am confident in our ability to meet the financial needs of hard-working families throughout North America in the coming year.”