Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 345

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 345
---
925

        -

        Allowance for credit losses

        (1,215
        )

        (1,120
        )

        Reinsurance recoverables
         
        $
        2,744,165

        $
        3,015,777

       NR – not rated by A.M. Best(1)   Reinsurance recoverables include balances ceded under coinsurance transactions of term life insurance policies that were in force as of December 31, 2009.      Amounts shown are net of their share of the reinsurance receivables from other reinsurers. Arrangements with these reinsurers include collateral trust agreements      held in support of reinsurance recoverables. (2)   Entity is rated AA by S&P as of December 31, 2024.(3)   Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies.(4)    Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc.Certain reinsurers with which we do business receive group ratings. Individually, those reinsurers are SCOR Global Life Americas Reinsurance Company, SCOR Global Life U.S.A. Reinsurance Company, SCOR Global Life Re Insurance Company of Delaware, and SCOR Global Life of Canada. 

92

The IPO coinsurance agreements include provisions to ensure that Primerica Life, Primerica Life Canada and NBLIC receive full regulatory credit for the reinsurance treaties. Under these agreements, the ceded business can be recaptured with no fee in the event the IPO coinsurers do not comply with the various safeguard provisions in their respective IPO coinsurance agreements. The rollforward of the allowance for credit losses (“ACL”) on reinsurance recoverables for the years ended December 31, 2024, 2023, and 2022 were as follows:

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Balance, beginning of period
         
        $
        1,120

        $
        2,936

        $
        2,942

        Current period provision for expected credit losses

        95

        3,703

        164

        Writeoffs charged against the ACL, if any

        -

        (5,519
        )

        -

        Recoveries of amounts previously written off

        -

        -

        (