Primerica Hosts Annual Gathering of Top African American Representatives

Primerica Inc. on Friday kicked off the 16th annual meeting of its African American Leadership Council (AALC), held March 18–20 in Orlando.

Though salesforce events are a regular occurrence in the direct selling space, the three-day gathering was unique for bringing together top African American representatives within the company. The financial services firm said it expected 5,000 to attend the weekend’s conference, up from 3,000 last year.

“Since its founding in 2000, our AALC has grown into a significant force within Primerica,” John Lennon, Primerica Senior National Sales Director and AALC Co-Chairman, said in a statement. “This year’s conference theme—Bigger! Stronger! Faster!—and our exciting agenda underscore our mission of empowering African Americans in Primerica to establish a legacy of financial independence through entrepreneurship.”

Attendees gathered at the Orlando World Center Marriott heard from top Primerica sales representatives, as well as company CEO Glenn Williams and President Peter Schneider. The event also featured workshops focused on equipping representatives with business skills to better serve African American families in their communities.


Thousands to Attend Primerica Events Marking 30 Years in Canada

Primerica Canada has announced plans to usher in its 30th year of business with six events across the country on Saturday, Jan. 9.

The company expects about 10,000 representatives to attend the meetings, which will feature an address by chief executive Glenn Williams, who brings firsthand knowledge of the Canadian side of the business. Williams was part of the team that launched operations in the country in 1986, and went on to serve as President and CEO of Primerica Canada from 1996 to 2000. His live address to an audience in Toronto will be simulcast to crowds in Calgary, Halifax, Montreal, Vancouver and Winnipeg.

“Our salesforce of more than 10,000 men and women is the most important factor of our success, and I am honoured to recognize their outstanding performance in 2015 during our upcoming meetings,” Williams said in a statement. “But equally important, we will focus on new initiatives to help us grow our strong momentum and meet the needs of thousands of additional Canadian families.”

Like the company’s U.S. business, Primerica Canada is in the midst of unprecedented growth. The Canadian segment has paid out more than $1 billion in Term Life Insurance claims, and currently insures more than 400,000 lives. Salesforce compensation in 2015 amounted to a record $124 million, up 15 percent year-over-year.

Primerica Beats Wall Street Expectations with Record Earnings

Primerica Inc. (PRI—NYSE) generated net income of $49.4 million in the third quarter, the financial services firm said Wednesday.

The Duluth, Georgia-based company posted record earnings of 98 cents per share, up 19 percent from a year ago. On average, analysts surveyed by Zacks Investment Research had predicted earnings of 93 cents per share.

Revenue climbed 5 percent to $355.8 million. The year-over-year growth resulted primarily from higher sales of the company’s term life insurance product. The number of policies issued rose 21 percent in the quarter, driving operating revenue in the segment up 11 percent to $197.2 million. Sales of investment and savings products remained flat versus the prior year, but fell 13 percent on a sequential basis to $128.7 million in operating revenue.

“Our ongoing efforts to expand distribution resulted in a 7 percent increase in the size of our life insurance licensed salesforce, which contribute to the 21 percent growth in life insurance issued compared with third quarter a year ago,” CEO Glenn Williams said in the company’s release.

John Addison Joins LegalShield Board of Directors

After stepping down as Co-CEO of Primerica earlier this year, industry veteran John Addison is joining LegalShield’s board of directors, the legal services provider announced Monday.

Addison, who also sits on Primerica’s board, is the non-executive Chairman of Primerica Distribution. He transitioned to the role in April, after 33 years with the financial services distributor. Formerly a part of Citigroup, Primerica conducted a successful IPO in 2010 under the leadership of Addison and Co-CEO Rick Williams.

“John Addison is not only an industry pioneer who understands our business; he also sits at the vanguard of people development and motivation,” LegalShield CEO Jeff Bell said in a statement. “We are combining best-in-class leadership with an industry-leading suite of products, creating a business that truly helps people.”

After more than 40 years in the business, Oklahoma-based LegalShield has built a membership of 1.4 million covering 3.7 million lives. Independent Associates market the company’s 24/7 legal counsel and identity theft protection to businesses as well as individuals. Currently, upwards of 34,000 companies offer the LegalShield plan to employees as a voluntary benefit.

Addison’s relationship with LegalShield began in 1997, when he met the company’s late founder, Harland Stonecipher. “Harland always said LegalShield exists to serve a mission greater than itself—equal access to equal justice—something that matters now more than ever. I am very proud to be a part of this company,” said Addison.

In the past year, LegalShield has taken steps to enhance its digital presence, including an overhaul of the company’s websites and the launch of three new mobile apps, providing legal advice to the general public and more extensive services for members. In April, LegalShield acquired the assets of Shake LLC, owner of the Shake app, which enables users to create and manage legal contracts from their smartphones. Business Insider named Shake one of the Top 11 App Developers to Watch in 2014.

Primerica Reports Increases in Sales and Membership

In reporting second quarter sales and earnings for 2015, Primerica Inc. (PRI—NYSE) highlighted a 14 percent growth in life insurance policies issued and 5 percent growth in life insurance licensed representatives to reach a total of 101,008. The company stated that second quarter operating revenue increased by 6 percent to $350.3 million compared with $330.3 million in the prior year period.

Glenn Williams, CEO, credited the company’s growth to a “solid core performance across business segments” and “ongoing efforts to drive organic growth.” With increases in both life-licensed sales members (5 percent growth) and recruitment of new members (20 percent growth), the company credits excitement generated by new incentives, technology, and product enhancements offered to the sales representatives and to customers.

To listen to a replay of the investor call held on Aug. 6, click here.

$50K Primerica Grant Will Equip At-Risk Teens

During its 2015 Convention this month, Primerica brought home the event’s theme—“Freedom Redefined”—with the announcement of a $50,000 grant that will equip at-risk teens for future success.

CEO Glenn Williams presented the grant award to Sam Bracken, Co-Founder of The Orange Duffel Bag Initiative (ODBI), an organization Primerica has supported since 2013. ODBI helps Georgia teens who are homeless or aging out of the foster care system, often without the means or skills necessary to support themselves. ODBI’s team of certified life and executive coaches provides coaching, training and ongoing advocacy to these youth.

“It’s unimaginable that thousands of Georgia teens are homeless or will soon be too old to remain in the foster care system. These kids did not choose to be in this situation, and they deserve a chance for a better future,” Williams told the crowd of approximately 40,000 gathered in Atlanta’s Georgia Dome. “We applaud the exceptional work done by the ODBI and are proud to support this worthwhile organization.”

The Orange Duffel Bag Initiative grew largely from Bracken’s own experiences. Though he would later become a star football player for Georgia Tech and an executive with FranklinCovey, Bracken was once a homeless teen who could carry everything he owned in an orange duffel bag. He has shared his experiences in My Orange Duffel Bag: A Journey to Radical Change, a book he co-authored.

Primerica Reports Record Q2 Leading into Annual Convention

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.

Primerica Posts Quarterly Earnings Growth, Narrowly Misses Estimates

Primerica Inc. (PRI—NYSE) reported growth across all key metrics in its first earnings results under the leadership of new CEO Glenn Williams.

Revenue rose 6 percent to $345.1 million in the first quarter, the financial services provider said Wednesday. Net income was $43.2 million, or 82 cents a share, boosted by strong sales of Primerica’s term life product.

Operating income was 80 cents a share, missing analysts’ estimates by 1 cent, partly due to the timing of expense recognition for annual equity awards granted to retirement eligible employees. Earnings also took a minor hit from the unfavorable Canadian exchange rate, though Canada sales were up 8 percent in local currency.

Total policies issued rose 13 percent versus a year ago, driving 8 percent revenue growth in the term life category. Revenue from investment and savings products was up 7 percent to $129.1 million. The number of new representatives joining the company rose 10 percent over the prior-year period.

“Continued success in executing our organic growth strategy, coupled with our share repurchase program, position us well to continue delivering strong stockholder returns,” said Williams, who officially stepped into his new role at the beginning of April. The Atlanta-area company generated sales of $1.34 billion in 2014, earning the No. 14 rank on the DSN Global 100.

2015 DSN North America 50 List

The DSN North America 50DSN Announces the 2015 North America 50!

This marks the sixth year for the Global 100 list of top direct selling companies in the world, and we would not be Direct Selling News if we did not continually strive to raise the bar.

That is why we are pleased to share with you a new component of the project this year: The North America 50. As a subset of the Global 100, this list draws attention to the most significant players in one of the world’s largest direct selling markets.

As DSN embarks on the annual research for the Global 100, we continue to refine the process as we identify the largest companies and acknowledge their achievements while bringing attention to the magnitude of the direct selling industry as a whole. Within that context, the impact that North American companies have on the global marketplace as well as on those that buy and sell through this channel cannot be overstated.

The following contains the North America 50 ranking for the 2015 DSN Global 100 (based on 2014 revenues). Both lists will be published in the June issue of Direct Selling News.

2015 Rank

Company Name

2014 Revenue

1 Amway $10.80B
2 Avon $8.9B
3 Herbalife $5.0B
4 Mary Kay $4.0B
5 Tupperware $2.60B
6 Nu Skin $2.57B
7 Ambit Energy $1.50B
8 Primerica $1.34B
9 Stream Energy $918M
10 Shaklee $844M

Click here to see the rest of the DSN North America 50 List.

2015 DSN Global 100 List

DSN 100

DSN Announces the 2015 Global 100!

Since 2004 Direct Selling News has been dedicated to telling stories focused on relating the opportunities direct sellers provide to millions of independent business owners around the globe. So it seemed only fitting for DSN to further recognize the industry by compiling a comprehensive list, starting in 2010, of the top direct selling companies in the world.

The DSN Global 100 list offers a unique perspective on the global impact of the industry on economic and social realms. It provides a range of mutual learning not only for industry members but also for researchers, investors and—most important—those seeking opportunities within the industry.

We thank all the companies that willingly participated in our survey as well as our dedicated team of researchers who helped us present to you the remarkable achievements of direct sellers around the globe.

The following contains the ranking for the 2015 DSN Global 100 (based on 2014 revenues), our annual list of the top revenue-generating direct selling companies in the world. The list is published in the June issue of Direct Selling News.

2015 Rank

Company Name

2014 Revenue

1 Amway $10.80B
2 Avon $8.90B
3 Herbalife $5.00B
4 Mary Kay $4.00B
5 Vorwerk $3.90B
6 Natura $3.20B
7 Infinitus $2.64B
8 Tupperware $2.60B
9 Nu Skin $2.57B
10 JoyMain $2.00B

Click here for the rest of the 2015 DSN Global 100 list.