Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 342

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 342
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18,383

        Policy loans (1)

        40,884

        40,884

        38,975

        38,975

        Deposit asset underlying 10% coinsurance agreement (1)

        158,913

        158,913

        187,377

        187,377

        Separate accounts

        2,209,287

        2,209,287

        2,395,842

        2,395,842

        Liabilities:

        Note payable (2)  (3)

        594,512

        513,862

        593,709

        508,832

        Surplus note (1)  (2)

        1,303,556

        1,225,708

        1,386,592

        1,329,159

        Separate accounts

        2,209,287

        2,209,287

        2,395,842

        2,395,842

       (1)Classified as Level 3 fair value measurement.(2)Carrying value amounts shown are net of unamortized issuance costs.(3)Classified as Level 2 fair value measurement. The fair values of financial instruments presented above are estimates of the fair values at a specific point in time using various sources and methods, including market quotations and a complex matrix system that takes into account issuer sector, quality, and spreads in the current marketplace.Financial Instruments Recognized at Fair Value in the Balance Sheets. Estimated fair values of investments in AFS securities are principally a function of current spreads and interest rates that are corroborated by independent third-party data. Therefore, the fair values presented are indicative of amounts we could realize or settle at the respective balance sheet date. We do not necessarily intend to dispose of or liquidate such instruments prior to maturity. Trading securities and equity securities, including common and nonredeemable preferred stocks, are carried at fair value. Segregated funds in separate accounts are carried at the underlying value of the variable insurance contracts, which is fair value.The carrying amounts for cash and cash equivalents, trade receivables, accrued investment income, accounts payable, cash collateral and payables for security transactions approximate their fair values due to the short-term nature of these instruments. Consequently, such financial instruments are not included in the above table.

(7) ReinsuranceWe use reinsurance extensively,