The Way To Connect With Direct Selling Industry

The Way To Connect With Direct Selling Industry

Primerica Investment and Savings Products Sales Q1 2021 Reach $2.9 Billion

In the first quarter of 2021, Primerica, Inc. posted total sales of $637.7 million, up 21% from the same quarter in 2020. The company’s net income increased by 35% to $97.9 million, and earnings per diluted share increased by 41% to $2.46.

Owing to a sharp decline at the start of the pandemic, last year’s first-quarter results included pre-tax recognized losses on the invested asset portfolio of $10 million, as well as a mark-to-market change on the reinsurance deposit asset of $6.4 million. In Q1 2021, the ROE was 21.1 percent, up from 18.2 percent in Q1 2020.

The demand for mutual funds and managed accounts has risen, which has contributed to the rise. Owing to the pandemic, Term Life products saw increased sales and higher claims, resulting in nearly $21 million in COVID-related death claims.

“Our outstanding first-quarter results represent the strength of our company and the momentum generated by our capacity to meet the financial needs of middle-market families,” said Glenn Williams, CEO. “The effect of COVID has raised market consciousness about their finances, assisting Primerica in achieving record production results in hiring, released life policies, and investment sales.”

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