Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 431

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 431
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 both indirect policy issuance costs and costs associated with unsuccessful efforts to acquire new policies.

•Insurance commissions. Reflects sales commissions with respect to insurance products that are not eligible for deferral. 

•Interest expense. Reflects interest on our note payable, any interest and the commitment fee on our Revolving Credit Facility, fees paid for the credit enhancement feature on our held-to-maturity invested asset, and a finance charge incurred pursuant to one of our coinsurance agreements with an IPO coinsurer.

•Other operating expenses. Consists primarily of staff compensation, technology and communications, various independent sales force-related costs, non-bank custodial and transfer agent recordkeeping administrative costs, outsourcing and professional fees, and other corporate and administrative fees and expenses.

54

Insurance expenses and other operating expenses directly attributable to the Term Life Insurance and Investment and Savings Products segments are recorded directly to the applicable segment. We allocate certain other revenue and operating expenses that are not directly attributable to a specific operating segment using methods expected to reasonably measure the benefit received by each reporting segment. Such methods include time studies, recorded usage, revenue distribution, and independent sales force representative distribution. These allocated items include fees charged for access to POL and costs incurred for technology, independent sales force support, occupancy and other general and administrative costs. Costs that are not directly charged or allocated to our two primary operating segments are included in the Corporate and Other Distributed Products segment.

Primerica, Inc. and Subsidiaries Results. Our results of operations for the years ended December 31, 2024, 2023, and 2022 were as follows:

    2024 vs. 2023

    2023 vs. 2022

    Year ended December 31,

    change

    change

    2024

    2023

    2022

    $

    %

    $

    %

    (Dollars in thousands)

    Revenues:

    Direct premiums
     
    $
    3,393,604

    $
    3,312,125

    $
    3,230,120

    $
    81,479

    2
    %
     
    $
    82,005

    3
    %

    Ceded premiums

    (1,664,433
    )

    (1,651,811
    )

    (1,629,892
    )

    12,622

    *

    21,919

    *

    Net premiums