Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 333

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 333
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 the Company’s resources and assesses the performance of the Company’s segments. We have defined the Company’s CODM as the combined function of its Chief Executive Officer and its Chief Financial Officer. The CODM uses segment net income (loss) before income taxes to evaluate segment performance and in deciding how to allocate resources. The CODM does not use a measure of segment assets to evaluate segment performance or in deciding how to allocate resources. The CODM’s evaluation of segment performance occurs on a monthly basis, and the decision of how to allocate resources occurs primarily during the periodic budget and forecasting process. The CODM 

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considers budget-to-actual variances and variances compared to the same period in the prior year when making decisions about allocating capital and personnel to the segments.Income (loss) before income taxes by segment, including significant expense categories, was as follows: 

        Year ended December 31,

        2024

        2023

        2022

        (Dollars in thousands)

        Term life insurance segment:

        Total revenues
         
        $
        1,768,240

        $
        1,693,042

        $
        1,635,966

        Benefits and expenses:

        Benefits and claims

        635,354

        622,084

        619,997

        Future policy benefits remeasurement (gain) loss

        (31,265
        )

        (213
        )

        554

        Amortization of DAC

        291,488

        268,803

        254,875

        Insurance expenses

        250,957

        230,390

        230,796

        Insurance commissions

        17,664

        19,814

        15,335

        Total benefits and expenses

        1,164,198

        1,140,878

        1,121,557

        Income before income taxes
         
        $
        604,042

        $
        552,164

        $
        514,409

        Year ended December 31,

        2024

        2023

        2022

        (Dollars in thousands)

        Investment and savings products segment:

        Total revenues
         
        $
        1,056,742

        $
        865,265

        $
        863,432

        Expenses:

        Amort