Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 186

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 186
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        2023

        2022

        (In thousands)

        Quarterly incentive awards expense recognized currently
         
        $
        4,778

        $
        4,492

        $
        4,060

        Quarterly incentive awards expense deferred

        10,334

        10,546

        11,260

        Tax benefit associated with incentive awards

        2,939

        2,965

        3,056

       As of December 31, 2024, all agent equity awards were fully vested with the exception of approximately 16,694 shares that vested on January 1, 2025.  The following table summarizes non-cash share-based compensation expense by segment included in income from continuing operations:

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Non-cash share-based compensation expense:

        Term life insurance segment
         
        $
        4,974

        $
        4,285

        $
        4,133

        Investment and savings products segment

        3,171

        2,927

        3,212

        Corporate and other distributed products segment

        15,390

        11,031

        14,806

        Total non-cash share-based compensation expense
         
        $
        23,535

        $
        18,243

        $
        22,151

(17) Statutory Accounting and Dividend RestrictionsU.S. Insurance Subsidiaries. Our two underwriting U.S. insurance subsidiaries are Primerica Life and NBLIC. Primerica Life wholly owns Vidalia Re and ceded certain level-premium term life insurance policies to Vidalia Re through the Vidalia Re Coinsurance Agreement.Our U.S. insurance subsidiaries are required to report their results of operations and financial position to state authorities on the basis of statutory accounting practices prescribed or permitted by such authorities and the National Association of Insurance Commissioners (“NAIC”), which is a comprehensive basis of accounting other than U.S. GAAP. Prescribed statutory accounting practices include a variety of publications of the NAIC, as well as state laws, regulations and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed. The Company’s principal life insurance company, Primerica Life, prepares its statutory financial statements on the basis of accounting practices prescribed or permitted by the