Primerica Reports Q4 Revenue of $598.3 Million

Primerica, Inc. has announced the financial results for the fourth quarter of 2020. Total revenues for the quarter reached $598.3 million, an increase of 12% compared to the same quarter in 2019. The company’s net income also increased, rising 7% to $100.1 million.

The amount of term life policies issued increased 22%, a record $109 billion (face amount) issued for the full-year 2020, and investment and savings products sales increased 4% to $2.1 billion. Net earnings per diluted share (EPS) increased 13% to $2.52, while diluted adjusted operating EPS increased 10%, to $2.45.

Adjusted operating revenues were $594.7 million, a 12% increase over the same quarter in 2019, and adjusted net operating income increased 5%, to $97.3 million.

“The COVID-19 pandemic caused middle income consumers to clearly understand their need for protection today and investments for tomorrow,” said Glenn Williams, Primerica Chief Executive Officer. “The adaptability of our sales force allowed us to meet those needs more than ever before. I am very proud of how our Primerica team navigated the unique challenges of 2020 to continue to help clients achieve their financial goals.”

Total revenues for the year increased 8% year-over-year to reach $2.2 billion, a new annual record for the company, while net income increased 5%, totaling $386.2 million.