Industry Overview - The Zacks Life Insurance industry includes companies offering life insurance, retirement benefits, and wealth management solutions, with products such as annuities, term life insurance, and health insurance [3] - The industry is expected to grow, with gross written premiums projected to reach $1.34 trillion in 2025, driven by increasing demand for protection products and retirement benefits [4] - The global life insurance market is forecasted to reach $2.5 trillion by 2026, with a CAGR of 3.54% from 2025 to 2029 [9] Key Trends - **Interest Rate Cuts**: The Fed cut interest rates three times in 2024, totaling 150 basis points, with two more cuts expected in 2025, impacting life insurers' investment returns [5][6] - **Product Redesign**: Insurers are shifting from long-duration term life insurance to bundled investment products offering guaranteed retirement income, life, and healthcare benefits [7] - **Technology Adoption**: Increased automation, digital platforms, and online sales are driving premium growth and operational efficiency, with investments in AI, blockchain, and cognitive intelligence [11][12] Industry Performance - The life insurance industry has collectively gained 26.9%, outperforming the Finance sector's 22% increase and matching the S&P 500's 26.9% growth [15] - The industry's trailing 12-month price-to-book (P/B) ratio is 1.91X, lower than the S&P 500's 8.67X and the Finance sector's 3.97X [16] Companies to Watch - **Reinsurance Group of America (RGA)**: Zacks Rank 1, with a 5.5% YoY earnings increase expected in 2025 and a four-quarter average earnings surprise of 17.74% [18][19] - **Primerica (PRI)**: Zacks Rank 2, with a 7.2% YoY earnings increase expected in 2025 and a four-quarter average earnings surprise of 4.89% [20][21] - **Sun Life Financial (SLF)**: Zacks Rank 3, with a 10.6% YoY earnings increase expected in 2025 and a long-term earnings growth rate of 7% [22][23] - **Lincoln National (LNC)**: Zacks Rank 3, with a 9% YoY earnings increase expected in 2025 and a long-term earnings growth rate of 17% [24][25] - **Voya Financial (VOYA)**: Zacks Rank 3, with a 26.3% YoY earnings increase expected in 2025 and a long-term earnings growth rate of 15.9% [26][27] Growth Drivers - Rising demand for retirement benefits due to the aging baby boomer population [4] - Strong sales in emerging markets like China, India, and Latin America, expected to boost premiums by 5.7% in 2025 [10] - Increased automation and digitalization driving premium growth and operational efficiency [11][12]

Primerica (PRI) has been on a downward spiral lately with significant selling pressure. After declining 10% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

The Future Investor with Albert Anthony is a new series of curated research articles on the Seeking Alpha platform, focusing on growing a diversified portfolio and unlocking future drivers of performance.Albert Anthony is the pen name of a contributing analyst who has covered over +200 stocks on this platform since 2023, growing to over 1.07K followers. Based on this new article series, he is also working on a new book on Amazon to be called The Future Investor: Growing a Diversified Portfolio (2025 edition ...

Primerica, Inc. (PRI) shares gained 3.4% since it reported third-quarter earnings on Nov. 6, 2024. The quarterly results benefited from strong Term Life sales and Investment and Savings Product sales. Growth in policies issued and equity market appreciation also favored the results. Higher benefits and expenses partially offset the positives.Primerica reported a third-quarter 2024 adjusted earnings of $5.68 per share, which beat the Zacks Consensus Estimate by 18.8%. The bottom line jumped 32.7% from the pr ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

Investors in Primerica, Inc. (PRI) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $175 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean ...

Financial Data and Key Metrics - Adjusted net operating income was $193 million, up 21% YoY [8] - Diluted adjusted operating earnings per share increased 28% to $5.68 [8] - The company repurchased $129 million of common stock and paid $31 million in regular dividends during the quarter [8] - Year-to-date, the company returned $463 million to stockholders through share repurchases and dividends [9] Business Line Data and Key Metrics - Term Life segment revenues increased 5% YoY to $450 million, driven by 6% growth in adjusted direct premiums [22] - Investment and Savings Products (ISP) segment sales increased 34% YoY to $2.9 billion, with variable annuity sales up 42% and mutual fund sales up 23% [15] - Client asset values in the ISP segment ended the quarter at $111 billion, up 26% YoY [16] - The company licensed 14,349 individuals, a 17% increase YoY, and issued 93,377 new term life policies, a 5% increase YoY [11][12] Market Data and Key Metrics - The company recruited over 142,000 individuals during the quarter, driven by a promotion that discounted licensing fees [10] - The size of the life license sales force increased 7% YoY to 148,890 as of September 30, 2024, and surpassed 150,000 licensed reps by the end of October [11] - In Canada, the company entered into a new distribution agreement with Canada Life, expanding product choices for Canadian families [17] Company Strategy and Industry Competition - The company continues to focus on growing its distribution network and serving middle-income families in the US and Canada [6] - Improvements in product offerings, such as more portfolio options in managed accounts and attractive variable annuity choices, have driven strong sales in the ISP segment [14] - The company is optimistic about the long-term potential of its mortgage business, which has seen a 25% increase in US mortgage volume year-to-date [18] Management Commentary on Operating Environment and Future Outlook - The company benefited from favorable equity markets, which bolstered investor confidence and drove strong results in the ISP segment [7] - Management expects full-year life sales to grow around 3%, despite cost-of-living pressures on middle-income families [13] - The company raised its 2024 ISP sales forecast to a range of 22% to 25% due to continued sales strength in October [16] Other Important Information - The company successfully exited its senior health business by abandoning e-TeleQuote Inc and permanently surrendering its rights to e-TeleQuote [21] - The senior health exit generated a tax saving of approximately $98 million, with the majority realized in 2024 [85][86] Q&A Session Summary Question: How has recruiting been following the expiration of the discounted licensing fees? - Recruiting has remained strong since the expiration of the discounted fees, with continued growth in recruiting through the rest of the quarter and a good October [37][38] Question: What are the main drivers of the upside surprise in sales force growth? - Strong recruiting at the front-end of the pipeline, improvements in focus and process, and effective communication by field leaders have driven the upside surprise in sales force growth [41][42][43] Question: What is driving the strong annuity sales? - Strong annuity sales are driven by attractive product features, an aging client base moving into the decumulation phase, and improved sales force effectiveness [76][77][78] Question: What is the outlook for the ISP redemption rate? - The ISP redemption rate is expected to average out over the long term, with some upward pressure from economic dynamics and the aging client base [47][48] Question: What is the impact of the senior health exit on taxes? - The senior health exit generated a tax saving of approximately $98 million, with the majority realized in 2024 [85][86] Question: What is the outlook for the YRT ceded premium ratio? - The YRT ceded premium ratio is expected to remain consistent, with the benefits and claims ratio projected to be around 58% for the fourth quarter [89][90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34680 Primerica, Inc. (Exact name of registrant as specified in its charter) Delaware 27-1204330 Common Stock PRI New York ...

Earnings Results Quarter Ended September 30, 2024 Forward-Looking Statements This presentation may contain forward-looking statements. Information on factors that could cause results to differ materially from those projected in this presentation is available in our Form 10-K for the year ended December 31, 2023, as may be modified by subsequent Forms 10-Q. These documents are available in the Investor Relations section of our website, https://investors.primerica.com. The forwardlooking statements speak as o ...