PRI

EX-99.1

2 pri-ex99_1.htm

EX-99.1

EX-99.1

PRIMERICA REPORTS SECOND QUARTER 2026 RESULTS

Record investment sales of $4.4 billion, up 23%

All-time high client asset values ended the quarter at $140 billion, up 16%

Life-licensed sales force totaled 148,612 at June 30, 2026

Net premiums increased 1%; adjusted direct premiums increased 3%

Net earnings per diluted share (EPS) of $6.45 increased 19%; return on stockholders’ equity (ROE) of 32.1%

Diluted adjusted operating EPS of $6.41 increased 17%; adjusted net operating income return on adjusted stockholders’ equity (ROAE) of 33.1%

Repurchases of $135 million of common stock during the quarter;

declared dividend of $1.20 per share payable on September 14, 2026

Duluth, GA, Aug. 5, 2026 – Primerica, Inc. (NYSE: PRI) reported financial results for the quarter ended June 30, 2026. Total revenues of $865 million increased 9% compared to the second quarter of 2025. Net income of $202 million increased 13% and net earnings per diluted share of $6.45 increased 19% compared to the prior year period.

Adjusted operating revenues of $863 million increased 8% compared to the second quarter of 2025. Adjusted net operating income of $201 million increased 11%, while adjusted operating earnings per diluted share of $6.41 increased 17% compared to the prior year period.

During the second quarter of 2026, the Company's financial results reflected continued strength in its investment business. Sales growth was driven by strong client demand and attractive product offerings, while favorable equity market performance contributed to client asset value growth. The Term Life business continued to generate stable earnings and predictable cash flow, reflecting the Company’s large in-force block of term life insurance policies.

“Our second quarter results demonstrated the strength and resilience of Primerica’s complementary business model, with our insurance business providing stability while our investment business drives growth,” said Glenn Williams, Chief Executive Officer. “The

1

need for our products and services remains strong, and our representatives continue to play an important role in helping underserved middle-income families address their protection needs and build long-term financial security.”

Second Quarter Distribution & Segment Results

Distribution Results

Q2 2026

Q2 2025

% Change

Life-Licensed Sales Force

148,612

152,592

(3

)%

Recruits

82,346

80,924

2

%

New Life-Licensed Representatives

11,020

12,903

(15

)%

Life Insurance Policies Issued

78,904

89,850

(12

)%

Life Productivity (1)

0.18

0.20

*

Issued Term Life Face Amount ($ billions) (2)

$

27.7

$

30.3

(8

)%

ISP Product Sales ($ billions)

$

4.4

$

3.5

23

%

Average Client Asset Values ($ billions)

$

135.5

$

114.0

19

%

Closed U.S. Mortgage Volume ($ million brokered)

$

150.6

$

132.8

13

%

(1) Life productivity equals the average monthly policies issued divided by the average number of life insurance licensed representatives.

(2) Includes face amount on issued term life policies, additional riders added to existing policies, and face increases under increasing benefit riders.

* Not calculated or less than 1%

Segment Results

Q2 2026

Q2 2025

% Change

($ in thousands)

Adjusted Operating Revenues:

Term Life Insurance

$

443,605

$

441,834

*

Investment and Savings Products

360,518

298,298

21

%

Corporate and Other Distributed Products (1)

59,253

55,886

6

%

Total adjusted operating revenues (1)

$

863,376

$

796,018

8

%

Adjusted Operating Income (Loss) before income taxes:

Term Life Insurance

$

148,479

$

155,012

(4

)%

Investment and Savings Products

104,215

79,421

31

%

Corporate and Other Distributed Products (1)

3,834

2,748

40

%

Total adjusted operating income before income taxes (1)

$

256,528

$

237,181

8

%

(1) See the Non-GAAP Financial Measures section and the Adjusted Operating Results reconciliation tables at the end of this release for additional information.

* Not calculated or less than 1%

2

Life Insurance Licensed Sales Force

During the second quarter of 2026, recruiting increased 2% year-over-year to 82,346 new recruits. A total of 11,020 representatives obtained a new life insurance license, decreasing 15% compared to the prior year period. The life-licensed sales force totaled 148,612 as of June 30, 2026.

Term Life Insurance

During the second quarter of 2026, estimated annualized issued premium of $89.9 million decreased 9% compared to the prior year period. The Company issued 78,904 new life insurance policies, representing 12% fewer policies than the prior year period, with total face amount issued of $27.7 billion.

Second quarter Term Life revenues were $444 million, with 3% growth in adjusted direct premiums. Pre-tax income was $148 million, 4% lower compared to the prior year period. The current year period included a $4.9 million remeasurement gain compared to a $5.7 million

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8-K

false000147592200014759222026-02-112026-02-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): February 11, 2026

Primerica, Inc. (Exact Name of Registrant as Specified in Its Charter)

Delaware

001-34680

27-1204330

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1 Primerica Parkway Duluth, Georgia 30099

(Address of Principal Executive Offices, and Zip Code)

(770) 381-1000 (Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

PRI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 11, 2026, Primerica, Inc. (the “Company”) announced its results of operations for the quarter ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

The information provided pursuant to this Item 2.02, including Exhibit 99.1 in Item 9.01, is “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, and shall not be incorporated by reference in any filing made by the Company under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), except to the extent expressly set forth by specific reference in any such filings.

Use of Non-GAAP Financial Measures.

In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company presents certain non-GAAP financial measures. Specifically, the Company presents adjusted direct premiums, other ceded premiums, adjusted operating revenues, adjusted operating income before income taxes, adjusted net operating income, diluted adjusted operating earnings per share and adjusted stockholders’ equity.

Adjusted direct premiums and other ceded premiums are net of amounts ceded under coinsurance transactions that were executed concurrent with our initial public offering (the “IPO coinsurance transactions”) for all periods presented. We exclude amounts ceded under the IPO coinsurance transactions in measuring adjusted direct premiums and other ceded premiums to present meaningful comparisons of the actual premiums economically maintained by the Company. Amounts ceded under the IPO coinsurance transactions will continue to decline over time as policies terminate within this block of business.

Adjusted operating revenues, adjusted operating income before income taxes, adjusted net operating income and diluted adjusted operating earnings per share exclude the impact of investment gains (losses), including credit impairments, and fair value mark-to-market (“MTM”) investment adjustments for all periods presented. We exclude investment gains (losses), including credit impairments, and MTM investment adjustments in measuring these non-GAAP financial measures to eliminate period-over-period fluctuations that may obscure comparisons of operating results due to items such as the timing of recognizing gains (losses) and market pricing variations prior to an invested asset’s maturity or sale that are not directly associated with the Company’s insurance operations. Also excluded from these non-GAAP financial measures is the receipt of insurance proceeds under a Representation and Warranty policy purchased in connection with the 2021 acquisition of e-TeleQuote Insurance, Inc. and subsidiaries (“e-TeleQuote”). We exclude this gain from our non-GAAP financial measures as it represen