Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 158

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 158
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 Total revenues
         
        $
        3,089,143

        $
        2,748,507

        $
        2,657,451

      The following table reconciles segment income (loss) before income taxes to income from continuing operations before income taxes in the consolidated statements of income:

        Year ended December 31,

        2024

        2023

        2022

        (Dollars in thousands)

        Income (loss) from continuing operations before income taxes:

        Term life insurance segment
         
        $
        604,042

        $
        552,164

        $
        514,409

        Investment and savings products segment

        302,245

        242,826

        245,890

        Corporate and other distributed products segment

        32,960

        (23,252
        )

        (41,643
        )

        Total income from continuing operations before income taxes
         
        $
        939,247

        $
        771,738

        $
        718,656

       In April 2024, the Company executed agreements providing for the receipt of proceeds for certain claims filed by the Company under a Representation and Warranty insurance policy negotiated and purchased in connection with the acquisition of e-TeleQuote on July 1, 2021. The claims made by the Company involved breaches of certain representations and warranties relating to the pre-acquisition financial statements made by the sellers of e-TeleQuote in connection with the acquisition. The Company recognized a gain during the year ended December 31, 2024 of $50.0 million, which is equal to the aggregate proceeds received from the third-party insurers under the policy in May 2024, reflecting the full coverage under the policy. The Company recognized this gain in Corporate and Other Distributed Products segment revenues as it resulted from a corporate investment decision to purchase the insurance policy. On a consolidated basis, this gain is included in Other, net revenue in the accompanying consolidated statements of income. The Company recorded corporate restructuring charges of $2.8 million for the year ended December 31, 2024 associated with the decision to exit the Senior Health business, which are included in the determination of income (loss) from continuing operations before income taxes in the Corporate and Other Distributed Products segment. There were no corporate restructuring charges recorded during the years ended December 31, 2023 or 2022.  Insurance expenses and other operating expenses