Primerica Announces Senior Leadership Meeting in Atlanta to Kick off 2016
Primerica, Inc. (NYSE:PRI) announced it is hosting top representatives from across the United States and Canada for its Senior Leadership Meeting in Atlanta on January 3-4, 2016. The event will focus on sales force initiatives for 2016, in addition to celebrating Primerica's record-breaking success in 2015.
“2015 was Primerica’s strongest year of distribution growth since becoming a public company in 2010,” said CEO Glenn Williams. “In 2016, we plan to capitalize on this momentum by continuing to focus on the power of our Field Leadership as well as launching more initiatives to accelerate growth.”
Ongoing efforts to expand distribution resulted in the company’s projected sales force at more than 106,000 life-licensed representatives at December 31, 2015, a year-over-year increase of approximately 7%.
Sales force growth led to increases in other areas (numbers are projected and growth is comparing 2015 with 2014 at December 31, 2015):
- Recruiting of New Representatives: Up 19%
- New Life Insurance Licenses: Up 16%
- New Mutual Fund Licenses: Up 8%
- Issued Term Life Insurance Policies: Up 18%
- Term Life Insurance Policies Face Amount in Force: $690 billion
- Term Life Insurance Claims Paid to Policy Beneficiaries: $1.2 billion
- Compensation Paid to the Sales Force: $661 million, up $68 million
The company also experienced a third consecutive record-breaking year of sales in its Investment and Savings Products (ISP) business, and it expects to finish the year with an ISP sales increase of approximately 3% compared with 2014.
“The sales force is the most important factor of our success, and I am proud of the leadership provided by our representatives and their record-breaking performance. I look forward to the accomplishments of the coming year,” says Williams.
Earnings Webcast Information
Primerica will hold a webcast Thursday, February 11, 2016 at 10:00 am ET, to discuss fourth quarter results. This release and a detailed financial supplement will be posted on Primerica’s website. Investors are encouraged to review these materials. To access the webcast go to http://investors.primerica.com at least 15 minutes prior to the event to register, download and install any necessary software.
A replay of the call will be available for approximately 30 days on Primerica’s website, http://investors.primerica.com
Forward-Looking Statements
Except for historical information contained in this press release, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contain known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from anti