The following is a summary of the Primerica, Inc. (PRI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Primerica reported an adjusted net operating income of $137 million in Q1 2024, a 4% increase from the previous year, with adjusted operating income per share at $3.91, up by 10%.

• The underperformance of the Senior Health business led to a $14 million loss during the quarter.

• Primerica declared a common stock repurchase of $109 million and a dividend of $0.75 per share.

• A projected loss of approximately $25 million to $30 million in the Senior Health business segment for 2024 is anticipated.

Business Progress:

• Primerica experienced growth in their Term Life and Investment and Savings product lines, recruiting over 110,000 individuals in the first quarter which is an 18% increase year over year.

• Sales force growth of 5%, issuance of 86,587 new term life policies, and Total investment product sales were at $2.8 billion, a 20% increase.

• For the first time in its history, the company's client assets surpassed $100 billion.

• After revamping the Senior Health sales process, agent attrition decreased by 40%.

• Expected annual growth in the size of the sales force in 2024 is over 3% and around 3% to 5% in policies issued.

• Despite facing challenges, the company is committed to making the Senior Health business profitable and has paused capital investments in it for better understanding of its dynamics.

• Primerica intends to continue to serve middle-income families across North America through a comprehensive strategy and is expecting strong activity after the upcoming July convention.

More details: Primerica IR

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