Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 160

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 160
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127,454

        156

        (15,443
        )

        112,167

        Other asset-backed securities

        258,857

        763

        (12,262
        )

        247,358

        Total fixed-maturity securities

        2,935,212

        19,919

        (235,664
        )

        2,719,467

        Short-term investments

        276

        -

        -

        276

        Total fixed-maturity and short-term investments
         
        $
        2,935,488

        $
        19,919

        $
        (235,664
        )
         
        $
        2,719,743

       All of our AFS mortgage- and asset-backed securities represent beneficial interests in variable interest entities (“VIEs”). We are not the primary beneficiary of these VIEs because we do not have the power to direct the activities that most significantly impact the entities’ economic performance. The maximum exposure to loss as a result of our involvement in these VIEs equals the carrying value of the securities.The scheduled maturity distribution of the AFS fixed-maturity securities portfolio as of December 31, 2024 was as follows: 

        Amortized cost

        Fair value

        (In thousands)

        Due in one year or less
         
        $
        164,334

        $
        163,859

        Due after one year through five years

        734,771

        718,204

        Due after five years through 10 years

        839,321

        773,086

        Due after 10 years

        500,138

        459,455

        2,238,564

        2,114,604

        Mortgage- and asset-backed securities

        913,919

        831,522

          Total AFS fixed-maturity securities
         
        $
        3,152,483

        $
        2,946,126

       Expected maturities may differ from scheduled contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties. Held-to-maturity Security. Concurrent with the execution of the Vidalia Re Coinsurance Agreement, Vidalia Re entered into a Surplus Note Purchase Agreement (the “Sur