Primerica

Reinsurance Group of America Appoints New Member to Board of Directors

Retrieved on: 
Monday, April 1, 2024
Health Insurance, Professional Services, Health, Insurance, Risk management, Growth, Business, RGA, Strategic planning, University, IPO, Audit committee, Primerica, Reinsurance Group of America, Management

Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, today announced the appointment of Alison Rand to its Board of Directors.

Key Points: 
  • Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, today announced the appointment of Alison Rand to its Board of Directors.
  • Ms. Rand is an Independent Director of Regions Financial Corporation and a member of the Board’s Audit and Technology Committees.
  • She is a member of the university’s National Foundation Board and formerly served as the Audit Committee Chair.
  • She currently serves as Vice Chair of the Dean’s Advisory Council at the University of Florida Warrington College of Business.

Primerica Reports Fourth Quarter 2023 Results

Retrieved on: 
Tuesday, February 13, 2024
Personal Finance, Finance, Banking, Professional Services, Insurance, Acquisition, DAC, Primerica, Share repurchase, Marketing, Growth, Sale, Adjustment, IPO, RBC, GAAP, Webcast, Policy, Tax, MTM, CAC, Software

Productivity, as measured by the number of policies issued per life-licensed reps per month, increased from an adjusted 0.20 policies in the fourth quarter of 2022 to 0.21 policies in the fourth quarter of 2023.

Key Points: 
  • Productivity, as measured by the number of policies issued per life-licensed reps per month, increased from an adjusted 0.20 policies in the fourth quarter of 2022 to 0.21 policies in the fourth quarter of 2023.
  • The fourth quarter results reflect lower sales from a less tenured agent mix.
  • During the fourth quarter of 2023, the segment recorded an adjusted operating pre-tax loss of $5.4 million compared to an adjusted operating pre-tax loss of $8.8 million in the fourth quarter of 2022.
  • The effective tax rate was 22.9% in the fourth quarter of 2023 compared to 21.4% in the prior year period.

SPECIAL REPORT: Even as Inflation Drops, Financial Challenges Remain for Middle-Income Families

Retrieved on: 
Tuesday, December 12, 2023
Personal Finance, Finance, Professional Services, Other Professional Services, Asset Management, Food, PRI, NYSE, Tutoring, Primerica

Primerica, Inc. (NYSE: PRI), a leading provider of financial services in the United States and Canada, released a special report titled, “Perception vs.

Key Points: 
  • Primerica, Inc. (NYSE: PRI), a leading provider of financial services in the United States and Canada, released a special report titled, “Perception vs.
  • As a result, rebuilding depleted savings and paying off debt is likely to take several more months and potentially even several years for many middle-income families.
  • “The compounding impact of inflation has left a deep mark on middle-income household finances,” Cutts said.
  • “This report highlights the importance of budgeting and seeking guidance from a financial professional, who can assist households as they navigate financial difficulties.”

Primerica Household Budget Index™: Middle-Income Households Saw Improving Financial Conditions in October

Retrieved on: 
Thursday, November 30, 2023
Men, Retail, Family, Utilities, Consumer, Public Policy, Government, Energy, Personal Finance, Professional Services, Supermarket, Other Consumer, Women, Food, Beverage, Other Policy Issues, PRI, NYSE, Traction, Multimedia, Doctor of Philosophy, Growth, Gasoline, Cryptocurrency, Tutoring, Primerica

In October 2023, the average purchasing power for middle-income households was 99.1%, up from 98.1% in September.

Key Points: 
  • In October 2023, the average purchasing power for middle-income households was 99.1%, up from 98.1% in September.
  • View the full release here: https://www.businesswire.com/news/home/20231129111859/en/
    Primerica Household Budget Index™ (HBI™) – In October 2023, the average purchasing power for middle-income households was 99.1%, up from 98.1% in September.
  • Since the baseline of January 2019, the average middle-income household has cumulatively spent around $1,095 more than budget on basic necessities.
  • For more information on the Primerica Household Budget Index, visit www.householdbudgetindex.com .

Primerica Announces $425 Million Share Repurchase Program for 2024

Retrieved on: 
Thursday, November 16, 2023
Banking, Professional Services, Insurance, Finance, Share repurchase, Primerica, PRI, Term Life, NYSE

After reporting solid third quarter results, Primerica, Inc. (NYSE: PRI) today announced that its Board of Directors has authorized a $425 million share repurchase program to occur through December 31, 2024.

Key Points: 
  • After reporting solid third quarter results, Primerica, Inc. (NYSE: PRI) today announced that its Board of Directors has authorized a $425 million share repurchase program to occur through December 31, 2024.
  • Share repurchases may be made from time to time through open market transactions, block trades and/or privately negotiated transactions and are subject to market conditions, as well as corporate, regulatory, and other considerations.
  • “Our Term Life business remains a dependable and consistent source of free cash flow for the Company.
  • “The strength of the business supported the Board of Directors’ decision to once again increase the size of our share repurchase program.”
    This share repurchase program may be discontinued at any time by the Board of Directors, and the Company has no obligation to repurchase any amount of its common stock under the program.

AM Best Affirms Credit Ratings of Primerica, Inc. and Its Subsidiaries

Retrieved on: 
Wednesday, November 15, 2023
Professional Services, Insurance, Finance, Medicare Advantage, Return on equity, Medigap, NYSE, Risk management, Investment, Credit, AM Best, Superior, Medicare, News, ALL, Primerica, Mississauga

AM Best also has affirmed the Long-Term Issue Credit Rating of “a-” (Excellent) on $600 million, 2.8% senior unsecured notes, due 2031, of Primerica.

Key Points: 
  • AM Best also has affirmed the Long-Term Issue Credit Rating of “a-” (Excellent) on $600 million, 2.8% senior unsecured notes, due 2031, of Primerica.
  • The outlook of these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Blue Chip Partners Named a Top Registered Investment Advisory Firm in Michigan by Forbes

Retrieved on: 
Monday, December 11, 2023
Passover Seder, Blue Chip Economic Indicators, CMT, Primerica, Telephone, Senior, Notre Dame High School, Genuine Parts Company, ASML Holding, Blue chip, EDS, PDF, CAIA, CFA, Investment, Research, Partner, Professional corporation, Marketing, Michigan State University, Golf, Amy, Tree, Electronic Data Systems, Chocolate, Forgotten Harvest, University, Partnership, CPA, Education, Family, Foreign Investment Review Board, MSU, Orchard, RIA, Texas Instruments, Financial adviser, Pharmaceutical industry, Nursing, Telescopic sight, Video game, Engineering

FARMINGTON HILLS, Mich., Dec. 11, 2023 /PRNewswire/ -- Blue Chip Partners ("Blue Chip"), an award-winning, independent Registered Investment Advisor (RIA) and comprehensive wealth management firm located just outside of Detroit, was recently named one of the top RIA firms in Michigan by Forbes and SHOOK Research.

Key Points: 
  • FARMINGTON HILLS, Mich., Dec. 11, 2023 /PRNewswire/ -- Blue Chip Partners ("Blue Chip"), an award-winning, independent Registered Investment Advisor (RIA) and comprehensive wealth management firm located just outside of Detroit, was recently named one of the top RIA firms in Michigan by Forbes and SHOOK Research.
  • In the 2023 list of America's Top RIA Firms , Blue Chip was ranked #10 in Michigan and #215 nationally.
  • "Being included in this industry-leading ranking is a huge honor for us," said Robert Steinberg, Founder and CEO of Blue Chip Partners.
  • To learn more about McLeod and the rest of the team at Blue Chip Partners, please visit the firm's team page .

InsurTech Leader FastTrack & Primerica Canada Strengthen Commitment to Customer Excellence with Renewal Agreement

Retrieved on: 
Tuesday, November 14, 2023
FastTrack, Life, Disability, Primerica, Partnership, Risk management, Renewable energy

BEDMINSTER, N.J., Nov. 14, 2023 /PRNewswire/ -- FastTrack , a leader in the Life & Disability Digital Transformation Insurance vertical, is pleased to announce the renewal of its customer agreement with longstanding partner Primerica Life Insurance Company of Canada ("Primerica Canada"), a leading provider of financial products and services in Canada.

Key Points: 
  • BEDMINSTER, N.J., Nov. 14, 2023 /PRNewswire/ -- FastTrack , a leader in the Life & Disability Digital Transformation Insurance vertical, is pleased to announce the renewal of its customer agreement with longstanding partner Primerica Life Insurance Company of Canada ("Primerica Canada"), a leading provider of financial products and services in Canada.
  • As part of this agreement, FastTrack will continue to provide Life Waiver Tools and Claim Decision Readiness Services to support Primerica's Canada operations and growth strategies.
  • "We are thrilled to continue our collaboration with Primerica Canada as they embark on their next phase of success," said Thomas Capato CEO and Cofounder, of FastTrack.
  • Both FastTrack and Primerica Canada are enthusiastic about the prospects that this renewal agreement brings forth.

While Feds Hold Steady on Interest Rates, Top Certificate Rates Soar Says Alliant Credit Union

Retrieved on: 
Wednesday, November 8, 2023
Alliant Credit Union, Federal, Alliant, Primerica, APY, Digital, Federal Reserve, Bank

CHICAGO, Nov. 8, 2023 /PRNewswire/ -- With the recent announcement of an unchanged interest rate by the Federal Reserve coupled with a rate of inflation holding steady at 3.7%, economic stress continues to grip American households. Rising costs, a weak stock market, soaring home prices and mortgage rates to match and a personal savings rate at its lowest this year (just 3.4%) paint a bleak picture, but one often unheard-of financial tool is seeing record rate increases and may offer some relief: certificates.

Key Points: 
  • Top certificates have stayed steady in their trajectory of continuing to beat the inflation rate.
  • Today, Alliant Credit Union announced its highest certificate rates to date, increasing 18-month regular certificates from 5.05% annual percentage yield (APY) to 5.30% APY and 18-month jumbo certificates from 5.10% APY to 5.35% APY, among the top rates currently on the market.
  • "As the Federal Reserve is keeping interest rates steady, we at Alliant wanted to go further to help members who are looking to get ahead financially by increasing our certificate rates of return," added Grover.
  • Alliant Credit Union is a member-based financial institution, joinable through numerous partner organizations.

Primerica Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Personal Finance, Professional Services, Insurance, Finance, Adjustment, IPO, Sale, Policy, Segregation, Tax, DAC, GAAP, Acquisition, AEP, Software, Primerica, Growth, CAC, RBC, COVID-19, Webcast, Investment, MTM, Cryptocurrency, Pharmaceutical industry, Life insurance, Bank

The effective tax rate was 23.5% in the third quarter of 2023 compared to 34.3% in the prior year period.

Key Points: 
  • The effective tax rate was 23.5% in the third quarter of 2023 compared to 34.3% in the prior year period.
  • The Board of Directors has approved a dividend of $0.65 per share, payable on December 12, 2023, to stockholders of record on November 21, 2023.
  • Primerica Life Insurance Company’s statutory risk-based capital (RBC) ratio was estimated to be approximately 445% as of September 30, 2023.
  • Primerica will hold a webcast on Wednesday, November 8, 2023, at 10:00 a.m. Eastern, to discuss the quarter’s results.