Primerica ends 2021 with more than $900B term life coverage in force

Jan. 04, 2022 9:59 AM ETPrimerica, Inc. (PRI)By: Liz Kiesche, SA News Editor1 Comment

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  • Primerica (PRI +1.4%) issued $109B of new term life insurance coverage in 2021, ending the year with more than $900B of term life insurance coverage in force.
  • The company paid $2.1B in death claims during the year. "With over $900B of term life insurance coverage in force, we are positioned to protect more households in the future," said CEO Glenn Williams. "Our record investment sales of $11B and client asset values of $97B demonstrate we are assisting more families than ever with their savings and investment goals."
  • The company recruited 348,000 new representatives during the year. It ended the year with almost 26,300 securities licensed representatives.
  • e-TeleQuote, acquired by Primerica (NYSE:PRI) in July 2021, is projected to close out the year with 31,000 approved senior health policies during Q4. The company's U.S. mortgage distribution business closed over $1.2B of loans during the year.
  • Primerica (PRI) also repurchased $18.7M of common stock in Q4 2021 under its recently announced $275M repurchase program.

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