Primerica’s Q2: Nearly 97,000 new policies issued

Primerica hosted its Q2’23 earnings call on Aug 8, 2023. Select highlights:

• Team’s efforts are focusing on enhancing distribution capabilities.
• Sales momentum continues due to growth in the sales force and the appeal of life insurance products, even with financial pressure on middle-income households.
• Adjusted operating revenues: $690 million, up 3% from the previous year.
• Adjusted net operating income: $145 million, an 11% increase.
• Earnings per share: $3.99, an 18% rise from the prior year.
• Q2 recruitment: Over 86,000 individuals, 23% growth from Q2’22.
• New reps licensed in Q2: Over 12,600, a 10% increase from the previous year.
• Total life licensed reps at end of Q2: Nearly 138,000. Projected 3%-4% growth in sales force size for the full year 2023.
• Q2 Term Life business: Issued nearly 97,000 new policies, up 9% from the prior year.
• Productivity rate: 0.24 policies per licensed rep per month.