Primerica, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Primerica, Inc. reported revenue of $3.3B (+6.6% year on year) and net income of $751.2M (+59.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Direct premiums | $3.5B | $3.4B | $3.3B | $3.2B |
| Ceded premiums | ($1.7B) | ($1.7B) | ($1.7B) | ($1.6B) |
| Net premiums | $1.8B | $1.7B | $1.7B | $1.6B |
| Commissions and fees | $1.3B | $1.1B | $950.4M | $944.7M |
| Investment income net of investment expenses | $225.2M | $218.2M | $201.3M | $157.0M |
| Interest expense on surplus note | ($58.0M) | ($62.7M) | ($65.5M) | ($63.9M) |
| Net investment income | $167.2M | $155.5M | $135.8M | $93.1M |
| Realized investment gains (losses) | ($2.0M) | $1.0M | ($645.0K) | $1.4M |
| Other investment gains (losses) | $1.2M | $1.2M | ($5.3M) | ($2.4M) |
| Investment gains (losses) | ($816.0K) | $2.2M | ($5.9M) | ($995.0K) |
| Other, net | $65.6M | $119.3M | $75.0M | $83.2M |
| Total revenues | $3.3B | $3.1B | $2.8B | $2.7B |
| Benefits and claims | $665.9M | $648.2M | $643.0M | $665.7M |
| Future policy benefits remeasurement (gain) loss | ($37.4M) | ($25.9M) | ($384.0K) | — |
| Amortization of deferred policy acquisition costs | $322.9M | $298.1M | $275.8M | $356.1M |
| Sales commissions | $686.9M | $573.2M | $457.4M | $462.8M |
| Insurance expenses | $263.5M | $255.6M | $235.5M | $235.4M |
| Insurance commissions | $23.0M | $32.0M | $34.2M | $30.3M |
| Interest expense | $24.0M | $25.0M | $26.6M | $27.2M |
| Other operating expenses | $368.4M | $343.6M | $336.6M | $320.4M |
| Total benefits and expenses | $2.3B | $2.1B | $2.1B | $2.2B |
| Income from continuing operations before income taxes | $974.6M | $939.2M | $751.7M | $493.7M |
| Income taxes from continuing operations | $223.3M | $219.1M | $175.1M | $125.8M |
| Income from continuing operations | $751.2M | $720.1M | — | — |
| Loss from discontinued operations | $0 | ($249.6M) | — | — |
| Net income | $751.2M | $470.5M | $576.6M | $368.0M |
| Continuing operations | $22.95 | $21.02 | — | — |
| Basic earnings per share attributable to common stockholders | $22.95 | $13.73 | $15.97 | $9.77 |
| Continuing operations | $22.91 | $20.99 | — | — |
| Discontinued operations | $0 | ($7.29) | — | — |
| Diluted earnings per share attributable to common stockholders | $22.91 | $13.71 | $15.94 | $9.74 |
| Basic | 32.6M | 34.1M | 36.0M | 38.0M |
| Diluted | 32.7M | 34.2M | 36.0M | 38.1M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Direct premiums | $877.8M | $871.2M | $868.7M | $866.3M |
| Ceded premiums | ($442.3M) | ($414.9M) | ($414.1M) | ($433.4M) |
| Net premiums | $435.5M | $456.4M | $454.5M | $432.8M |
| Commissions and fees | $368.6M | $356.7M | $325.5M | $306.0M |
| Investment income net of investment expenses | $56.6M | $56.5M | $56.9M | $55.5M |
| Interest expense on surplus note | ($12.9M) | ($13.2M) | ($14.5M) | ($14.6M) |
| Net investment income | $43.7M | $43.3M | $42.4M | $40.9M |
| Realized investment gains (losses) | $78.0K | ($847.0K) | $170.0K | ($2.3M) |
| Other investment gains (losses) | $1.6M | $1.2M | $482.0K | ($528.0K) |
| Investment gains (losses) | $1.7M | $396.0K | $652.0K | ($2.9M) |
| Other, net | $15.6M | $15.9M | $16.7M | $16.4M |
| Total revenues | $865.1M | $872.7M | $839.9M | $793.3M |
| Benefits and claims | $147.3M | $171.3M | $172.2M | $152.5M |
| Future policy benefits remeasurement (gain) loss | ($5.0M) | ($7.4M) | ($23.1M) | ($5.9M) |
| Amortization of deferred policy acquisition costs | $85.1M | $84.3M | $81.5M | $80.0M |
| Sales commissions | $201.9M | $195.2M | $174.7M | $166.3M |
| Insurance expenses | $71.2M | $66.6M | $64.1M | $64.4M |
| Insurance commissions | $5.8M | $5.6M | $5.5M | $5.8M |
| Interest expense | $5.8M | $5.9M | $6.0M | $6.0M |
| Other operating expenses | $94.7M | $101.9M | $87.3M | $89.8M |
| Total benefits and expenses | $606.8M | $623.3M | $568.2M | $558.8M |
| Income before income taxes | $258.2M | $249.4M | $271.7M | $234.5M |
| Income taxes | $55.9M | $59.3M | $64.9M | $56.2M |
| Net income | $202.3M | $190.1M | $206.8M | $178.3M |
| Basic earnings per share | $6.46 | $5.98 | $6.36 | $5.41 |
| Diluted earnings per share | $6.45 | $5.97 | $6.35 | $5.40 |
| Basic | 31.2M | 31.7M | 32.4M | 32.9M |
| Diluted | 31.2M | 31.7M | 32.5M | 32.9M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Fixed-maturity securities available-for-sale, at fair value (amortized cost: $167,384 in 2025 and $142,939 in 2024) | $3.3B | $2.9B | $2.7B | $2.5B |
| Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,153,047 in 2025 and $1,227,428 in 2024) | $1.2B | $1.3B | $1.4B | $1.4B |
| Equity securities, at fair value (historical cost: $20,501 in 2025 and $22,935 in 2024) | $26.4M | $27.1M | $29.7M | $35.4M |
| Trading securities, at fair value (cost: $13,084 in 2025 and $3,562 in 2024) | $12.8M | $3.0M | $18.4M | $3.7M |
| Policy loans and other invested assets | $56.2M | $50.9M | $51.2M | $48.7M |
| Total investments | $4.5B | $4.3B | $4.2B | $4.1B |
| Cash and cash equivalents | $756.2M | $687.8M | $613.1M | $489.2M |
| Accrued investment income | $30.1M | $28.1M | $24.0M | $20.9M |
| Reinsurance recoverables | $2.6B | $2.7B | $3.0B | $4.0B |
| Deferred policy acquisition costs, net | $3.9B | $3.7B | $3.4B | $3.1B |
| Agent balances, due premiums and other receivables | $275.2M | $282.6M | $273.1M | $254.3M |
| Intangible asset | $45.3M | $45.3M | $175.0M | $185.5M |
| Income tax receivable | $45.3M | $0 | $6.9M | — |
| Deferred income taxes | $132.0M | $122.7M | $116.6M | $101.3M |
| Operating lease right-of-use assets | $41.9M | $47.0M | $53.7M | $40.5M |
| Other assets | $387.8M | $403.6M | $382.5M | $428.3M |
| Separate account assets | $2.3B | $2.2B | $2.4B | $2.3B |
| Total assets | $15.0B | $14.6B | $15.0B | $15.3B |
| Future policy benefits | $6.8B | $6.5B | $6.7B | $7.4B |
| Unearned and advance premiums | $15.5M | $15.6M | $14.9M | $15.4M |
| Policy claims and other benefits payable | $495.4M | $488.4M | $513.8M | $538.3M |
| Other policyholders’ funds | $356.4M | $402.3M | $435.1M | $483.8M |
| Notes payable | $595.3M | $594.5M | $593.7M | — |
| Surplus note | $1.2B | $1.3B | $1.4B | $1.4B |
| Income tax payable | $119.7M | $58.0M | $22.7M | $36.9M |
| Deferred income taxes | $28.3M | $57.6M | $112.6M | $91.5M |
| Operating lease liabilities | $49.6M | $55.5M | $61.4M | $46.0M |
| Other liabilities | $546.6M | $549.2M | $583.4M | $580.8M |
| Payable under securities lending | $84.9M | $86.0M | $99.8M | $100.9M |
| Separate account liabilities | $2.3B | $2.2B | $2.4B | $2.3B |
| Total liabilities | $12.6B | $12.3B | $13.0B | $13.6B |
| Common stock ($0.01 par value; authorized 500,000 shares in 2025 and 2024; issued and outstanding 31,810 shares in 2025 and 33,368 shares in 2024) | 318.0K | 334.0K | 350.0K | 368.0K |
| Retained earnings | $2.4B | $2.2B | $2.3B | $2.0B |
| Effect of change in discount rate assumptions on the liability for future policy benefits | $134.6M | $224.8M | ($39.1M) | — |
| Unrealized foreign currency translation gains (losses) | ($15.8M) | ($34.8M) | ($2.2M) | ($11.4M) |
| Net unrealized investment gains (losses) on available-for-sale securities | ($89.3M) | ($162.8M) | ($170.0M) | ($240.9M) |
| Total stockholders' equity | $2.4B | $2.3B | $2.1B | $1.7B |
| Total liabilities and stockholders' equity | $15.0B | $14.6B | $15.0B | $15.3B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Fixed-maturity securities available-for-sale, at fair value (amortized cost: $3,611,960 in 2026 and $3,378,618 in 2025) | $3.5B | $3.4B | $3.1B | $3.1B |
| Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,036,619 in 2026 and $1,153,047 in 2025) | $1.1B | $1.1B | $1.2B | $1.3B |
| Short-term investments available-for-sale, at fair value (amortized cost: $4,953 in 2026) | $5.0M | — | — | — |
| Equity securities, at fair value (historical cost: $20,624 in 2026 and $20,501 in 2025) | $29.3M | $27.7M | $26.2M | $24.9M |
| Trading securities, at fair value (cost: $32,813 in 2026 and $13,084 in 2025) | $32.4M | $32.5M | $12.8M | $3.0M |
| Policy loans and other invested assets | $120.7M | $56.3M | $54.1M | $53.0M |
| Total investments | $4.7B | $4.7B | $4.5B | $4.4B |
| Cash and cash equivalents | $600.2M | $645.8M | $644.9M | $621.2M |
| Accrued investment income | $33.3M | $31.4M | $28.9M | $29.2M |
| Reinsurance recoverables | $2.5B | $2.5B | $2.6B | $2.7B |
| Deferred policy acquisition costs, net | $4.0B | $4.0B | $3.9B | $3.8B |
| Agent balances, due premiums and other receivables | $291.4M | $280.2M | $301.1M | $300.5M |
| Intangible asset | $45.3M | $45.3M | $45.3M | $45.3M |
| Income taxes | $181.0M | $130.8M | $128.3M | $131.8M |
| Operating lease right-of-use assets | $39.7M | $40.9M | $43.0M | $44.1M |
| Other assets | $259.7M | $254.8M | $400.1M | $387.6M |
| Separate account assets | $2.2B | $2.1B | $2.3B | $2.3B |
| Total assets | $14.8B | $14.7B | $14.8B | $14.8B |
| Future policy benefits | $6.8B | $6.7B | $6.8B | $6.7B |
| Unearned and advance premiums | $16.4M | $17.0M | $16.2M | $16.9M |
| Policy claims and other benefits payable | $489.1M | $488.9M | $477.8M | $507.6M |
| Other policyholders’ funds | $344.4M | $342.4M | $368.2M | $382.1M |
| Note payable | $595.7M | $595.5M | $595.1M | $594.9M |
| Surplus note | $1.1B | $1.1B | $1.2B | $1.3B |
| Income taxes | $24.9M | $66.8M | $52.1M | $65.5M |
| Operating lease liabilities | $46.9M | $48.4M | $50.9M | $52.3M |
| Other liabilities | $619.8M | $531.5M | $515.1M | $523.5M |
| Payable under securities lending | $88.6M | $85.0M | $104.5M | $83.4M |
| Separate account liabilities | $2.2B | $2.1B | $2.3B | $2.3B |
| Total liabilities | $12.3B | $12.2B | $12.6B | $12.5B |
| Common stock ($0.01 par value; authorized 500,000 shares in 2026 and 2025; issued and outstanding 30,898 shares in 2026 and 31,810 shares in 2025) | 309.0K | 313.0K | 321.0K | 326.0K |
| Retained earnings | $2.5B | $2.4B | $2.3B | $2.3B |
| Effect of change in discount rate assumptions on the liability for future policy benefits | $190.8M | $223.8M | $89.7M | $174.6M |
| Unrealized foreign currency translation gains (losses) | ($31.0M) | ($23.4M) | ($22.2M) | ($13.8M) |
| Net unrealized investment gains (losses) on available-for-sale securities | ($110.6M) | ($121.1M) | ($91.7M) | ($124.6M) |
| Total stockholders' equity | $2.5B | $2.5B | $2.3B | $2.3B |
| Total liabilities and stockholders' equity | $14.8B | $14.7B | $14.8B | $14.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $751.2M | $470.5M | $576.6M | $368.0M |
| Change in future policy benefits and other policy liabilities | $95.2M | $144.3M | $102.5M | $225.9M |
| Deferral of policy acquisition costs | ($535.0M) | ($547.6M) | ($515.0M) | ($503.3M) |
| Amortization of deferred policy acquisition costs | $322.9M | $298.1M | $275.8M | $356.1M |
| Deferred tax provision | ($29.6M) | ($110.6M) | ($43.4M) | ($80.0M) |
| Change in income taxes | $17.4M | $46.6M | ($8.8M) | $26.4M |
| Investment (gains) losses | $816.0K | ($2.2M) | $5.9M | $995.0K |
| Accretion and amortization of investments | ($3.4M) | ($3.4M) | ($2.0M) | $3.3M |
| Depreciation and amortization | $19.3M | $23.4M | $32.0M | $34.2M |
| Change in reinsurance recoverables | $231.8M | $191.0M | $237.3M | $231.9M |
| Change in agent balances, due premiums and other receivables | $7.4M | ($12.3M) | ($18.8M) | ($475.0K) |
| Change in renewal commissions receivable | $3.8M | $22.7M | $9.8M | $19.8M |
| Trading securities sold, matured, or called (acquired), net | ($9.5M) | $15.3M | ($14.6M) | $20.0M |
| Share-based compensation | $24.6M | $25.1M | $18.9M | $22.4M |
| Impairment of goodwill and other long-lived assets | $0 | $253.6M | — | — |
| Gain on insurance proceeds received from acquisition representation and warranty policy | $0 | ($50.0M) | — | — |
| Loss on disposal of discontinued operations, excluding income tax benefit | $0 | $95.8M | — | — |
| Change in other operating assets and liabilities, net | $4.2M | $1.9M | $36.2M | ($27.5M) |
| Net cash provided by (used in) operating activities | $901.2M | $862.1M | $692.5M | $757.7M |
| Fixed-maturity securities — sold | $24.7M | $7.4M | $19.2M | $23.6M |
| Fixed-maturity securities — matured or called | $454.3M | $420.7M | $263.4M | $359.7M |
| Short-term investments — sold | $0 | — | $28.8M | $28.3M |
| Short-term investments — matured or called | $0 | $268.0K | $61.8M | $85.3M |
| Equity securities - sold | $26.0K | — | $3.1M | $16.0K |
| Equity securities - matured or called | $1.8M | $4.4M | $3.1M | $3.1M |
| Fixed-maturity securities | ($690.2M) | ($664.2M) | ($412.3M) | ($580.5M) |
| Short-term investments | $0 | — | ($19.8M) | ($97.4M) |
| Equity securities — acquired | ($228.0K) | ($211.0K) | ($430.0K) | ($187.0K) |
| Purchases of property and equipment and other investing activities, net | ($26.1M) | ($29.2M) | ($33.9M) | ($25.8M) |
| Cash collateral received (returned) on loaned securities, net | ($1.2M) | ($13.8M) | ($1.2M) | $6.4M |
| Sales (purchases) of short-term investments using securities lending collateral, net | $1.2M | $13.8M | $1.2M | ($6.4M) |
| Insurance proceeds received from acquisition representation and warranty policy | $0 | $50.0M | — | — |
| Disposal of cash in discontinued operations | $0 | ($21.4M) | — | — |
| Net cash provided by (used in) investing activities | ($235.6M) | ($232.3M) | ($90.1M) | ($200.0M) |
| Dividends paid | ($136.1M) | ($112.8M) | ($93.7M) | ($83.8M) |
| Common stock repurchased | ($450.0M) | ($428.4M) | ($375.1M) | ($356.3M) |
| Excise tax paid on common stock repurchased | ($3.9M) | — | — | — |
| Proceeds from revolving credit facility | $0 | $0 | $0 | $0 |
| Tax withholdings on share-based compensation | ($9.4M) | ($9.6M) | ($10.6M) | ($5.1M) |
| Finance leases | ($262.0K) | ($256.0K) | ($265.0K) | ($262.0K) |
| Net cash provided by (used in) financing activities | ($599.6M) | ($551.1M) | ($479.6M) | ($457.9M) |
| Effect of foreign exchange rate changes on cash | $2.4M | ($4.0M) | $1.1M | ($3.0M) |
| Change in cash and cash equivalents | $68.4M | $74.7M | $123.9M | $96.7M |
| Cash and cash equivalents, beginning of period | $687.8M | $613.1M | $489.2M | $392.5M |
| Cash and cash equivalents, end of period | $756.2M | $687.8M | $613.1M | $489.2M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $392.4M | $190.1M | $554.2M | $347.4M |
| Change in future policy benefits and other policy liabilities | $91.9M | $42.4M | $33.2M | $93.7M |
| Deferral of policy acquisition costs | ($252.5M) | ($126.8M) | ($407.7M) | ($275.3M) |
| Amortization of deferred policy acquisition costs | $169.4M | $84.3M | $240.1M | $158.6M |
| Change in income taxes | ($94.0M) | ($52.1M) | ($48.4M) | ($49.9M) |
| Investment (gains) losses | ($2.1M) | ($396.0K) | $1.5M | $2.1M |
| Accretion and amortization of investments | ($1.6M) | ($672.0K) | ($2.5M) | ($1.6M) |
| Depreciation and amortization | $7.9M | $3.9M | $14.3M | $10.0M |
| Change in reinsurance recoverables | $73.0M | $53.9M | $203.5M | $88.8M |
| Change in agent balances, due premiums and other receivables | ($16.2M) | ($5.0M) | ($18.5M) | ($12.8M) |
| Trading securities sold, matured, called or (acquired), net | ($19.7M) | ($19.8M) | ($9.6M) | $123.0K |
| Share-based compensation | $15.6M | $12.6M | $19.8M | $15.5M |
| Change in other operating assets and liabilities, net | ($13.3M) | ($25.5M) | ($19.6M) | ($17.8M) |
| Net cash provided by (used in) operating activities | $350.6M | $156.8M | $562.9M | $360.0M |
| Fixed-maturity securities — sold | $3.0M | $2.0M | $18.3M | $1.3M |
| Fixed-maturity securities — matured or called | $297.2M | $152.7M | $349.9M | $235.7M |
| Equity securities — sold | $0 | $0 | $26.0K | $26.0K |
| Equity securities — matured or called | $0 | $0 | $1.8M | $1.8M |
| Fixed-maturity securities | ($539.8M) | ($364.4M) | ($468.3M) | ($327.0M) |
| Short-term investments | ($5.0M) | — | — | — |
| Equity securities — acquired | ($123.0K) | ($60.0K) | ($169.0K) | ($112.0K) |
| Purchases of property and equipment and other investing activities, net | ($35.8M) | ($9.1M) | ($17.4M) | ($12.3M) |
| Cash collateral received (returned) on loaned securities, net | $3.7M | $144.0K | $18.5M | ($2.6M) |
| Sales (purchases) of short-term investments using securities lending collateral, net | ($3.7M) | ($144.0K) | ($18.5M) | $2.6M |
| Cash received from redemption of deposit asset | $131.4M | $131.4M | — | — |
| Net cash provided by (used in) investing activities | ($149.1M) | ($87.4M) | ($115.8M) | ($100.5M) |
| Dividends paid | ($75.6M) | ($38.1M) | ($102.8M) | ($68.9M) |
| Common stock repurchased | ($270.2M) | ($135.0M) | ($380.0M) | ($251.0M) |
| Excise tax paid on common stock repurchased | ($4.2M) | — | — | — |
| Tax withholdings on share-based compensation | ($6.1M) | ($6.0M) | ($8.7M) | ($8.7M) |
| Finance leases | ($117.0K) | ($58.0K) | ($205.0K) | ($137.0K) |
| Net cash provided by (used in) financing activities | ($356.2M) | ($179.2M) | ($491.6M) | ($328.7M) |
| Effect of foreign exchange rate changes on cash | ($1.4M) | ($597.0K) | $1.5M | $2.6M |
| Change in cash and cash equivalents | ($156.0M) | ($110.4M) | ($43.0M) | ($66.6M) |
| Cash and cash equivalents, beginning of period | $756.2M | $756.2M | $687.8M | $687.8M |
| Cash and cash equivalents, end of period | $600.2M | $645.8M | $644.9M | $621.2M |
Primerica, Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.