Primerica Q2 2024 Earnings Report
Key Takeaways
Primerica reported a net income of $1.2 million, or $0.03 per diluted share, impacted by the exit of the Senior Health business. However, the core business showed strength with adjusted net operating income increasing 12% to $162.7 million and adjusted operating earnings per diluted share growing 18% year-over-year to $4.71. Total revenue increased 17% to $803.4 million, including $50 million from an insurance claim.
New life licenses increased by 14%, driving the sales force to a record 145,789 representatives.
Investment and Savings Products sales increased by 29% to $3.1 billion.
Investment and Savings Products client asset values increased by 15%, ending the quarter at a record $105 billion.
The company declared a 20% increase in the dividend to $0.90 per share and repurchased $143 million of common stock during the quarter.
Primerica
Primerica
Primerica Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income