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 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,

*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 Primerica assumes no duty to update its forward-looking statements as of any future date.

About Primerica, Inc.