Primerica Gains as Sales Surge Drives Profit Rise

By Elizabeth Bunn, February 8, 2013

Primerica Inc., the life insurer previously owned by Citigroup Inc., advanced in New York trading as fourth-quarter profit climbed on a boost in policy sales.

Primerica rose 3.3 percent to $33.63 at 4:06 p.m. The Duluth, Georgia-based company has climbed 35 percent in the past 12 months.

Net income grew 8.2 percent to $40.3 million as net premiums increased 14 percent, Primerica said yesterday in a statement after the close of trading. Operating profit was 69 cents a share, missing by 1 cent the average estimate of seven analysts surveyed by Bloomberg.

“Our results were marked by solid performance across segments,” Co-Chief Executive Officer Rick Williams said in the statement. That includes a 16 percent increase in the term-life net premium revenue in the period, Primerica said.

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