Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 170

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 170
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 Reinsurance Companies.(4)    Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc.Certain reinsurers with which we do business receive group ratings. Individually, those reinsurers are SCOR Global Life Americas Reinsurance Company, SCOR Global Life U.S.A. Reinsurance Company, SCOR Global Life Re Insurance Company of Delaware, and SCOR Global Life of Canada. 

92

The IPO coinsurance agreements include provisions to ensure that Primerica Life, Primerica Life Canada and NBLIC receive full regulatory credit for the reinsurance treaties. Under these agreements, the ceded business can be recaptured with no fee in the event the IPO coinsurers do not comply with the various safeguard provisions in their respective IPO coinsurance agreements. The rollforward of the allowance for credit losses (“ACL”) on reinsurance recoverables for the years ended December 31, 2024, 2023, and 2022 were as follows:

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Balance, beginning of period
         
        $
        1,120

        $
        2,936

        $
        2,942

        Current period provision for expected credit losses

        95

        3,703

        164

        Writeoffs charged against the ACL, if any

        -

        (5,519
        )

        -

        Recoveries of amounts previously written off

        -

        -

        (170
        )

           Balance, at the end of period
         
        $
        1,215

        $
        1,120

        $
        2,936

(8) Deferred Policy Acquisition CostsThe balances and activity in DAC were as follows: 

        Year ended December 31,

        2024

        2023

        (In thousands)

        Term Life Insurance

        Segregated Funds (Canada)

        Term Life Insurance

        Segregated Funds (Canada)

        DAC balance, beginning of period
         
        $
        3,366,281

        $
        63,029

        $
        3,106,148

        $
        62,341

        Capitalization

        555,162

        2,959

        521,718

        4,353

        Amortization