Primerica Reports Record Q2 Leading into Annual Convention
July 16, 2015 Leave a comment
Photo: An estimated 40,000 attendees gather at the Georgia Dome in Atlanta for Primerica’s 2015 Convention.
Primerica Inc. (PRI—NYSE) released a preview of its second quarter earnings today as the company kicked off its 2015 Convention in Atlanta. The financial services provider said quarterly sales and distribution results were the best since its IPO in 2010.
An expanding salesforce powered much of the company’s recent growth. According to a statement from Glenn Williams, presiding over his first convention as CEO, Primerica recorded a 15 percent uptick in newly licensed representatives compared to a year ago, bringing its total licensed salesforce to 101,000. New recruits increased by 20 percent, and policies issued in the Term Life segment increased 14 percent.
Not to be outdone, Primerica’s Investment and Savings Product business has also grown steadily in the past five years. “During this year’s second quarter, our ISP sales grew by 9 percent over what was a record-setting performance during the same period in 2014,” Williams noted.
Primerica is hosting an estimated 40,000 at the Georgia Dome for its 2015 Convention, held July 15–18. As the city’s largest corporate meeting, it will have an estimated $34 million impact on the local economy.