Bloomberg News

Primerica Gains as Sales Surge Drives Profit Rise

February 08, 2013

Primerica Inc. (PRI:US), the life insurer previously owned by Citigroup Inc., advanced in New York trading as fourth-quarter profit climbed on a boost in policy sales.

Primerica rose 3.3 percent to $33.63 at 4:06 p.m. The Duluth, Georgia-based company has climbed 35 percent in the past 12 months.

Net income (PRI:US) grew 8.2 percent to $40.3 million as net premiums increased 14 percent, Primerica said yesterday in a statement after the close of trading. Operating profit was 69 cents a share, missing by 1 cent the average estimate of seven analysts surveyed by Bloomberg.

“Our results were marked by solid performance across segments,” Co-Chief Executive Officer Rick Williams said in the statement. That includes a 16 percent increase in the term-life net premium revenue in the period, Primerica said.

To contact the reporter on this story: Elizabeth Bunn in New York at ebunn1@bloomberg.net

To contact the editor responsible for this story: Dan Reichl at dreichl@bloomberg.net


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Companies Mentioned

  • PRI
    (Primerica Inc)
    • $47.02 USD
    • 0.95
    • 2.03%
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