Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 444

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 444
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    AA+

     Province of New Brunswick Canada

    12,553

    12,779

    (226
    )
     
    A+

     Berkshire Hathaway Inc

    12,534

    12,582

    (48
    )
     
    AA

     ONEOK Inc

    12,394

    12,899

    (505
    )
     
    BBB

     Intact Financial Corp

    11,492

    11,247

    245

    A+

    Total – ten largest holdings
     
    $
    132,912

    $
    136,541

    $
    (3,629
    )

    Total – fixed-maturity securities
     
    $
    2,949,137

    $
    3,155,494

    Percent of total fixed-maturity securities

    5
    %

    4
    %

(1)Includes trading securities at carrying value and available-for-sale securities at amortized cost.

For additional information on our invested asset portfolio, see Note 5 (Investments) and Note 6 (Fair Value of Financial Instruments) to our consolidated financial statements included elsewhere in this report.

Other Significant Assets and Liabilities. The balances of and changes in other significant assets and liabilities were as follows:

    December 31,

    Change

    2024

    2023

    $

    %

    (Dollars in thousands)

    Assets:

    Reinsurance recoverables
     
    $
    2,744,165

    $
    3,015,777

    $
    (271,612
    )

    (9
    )%

    Deferred policy acquisition costs, net

    3,680,430

    3,447,234

    233,196

    7
    %

    Liabilities:

    Future policy benefits
     
    $
    6,503,064

    $
    6,742,025

    $
    (238,961
    )

    (4
    )%

Reinsurance recoverables. Reinsurance recoverables reflects future policy benefit reserves and claim reserves ceded to reinsurers, including the IPO coinsurers. Reinsurance recoverables as of December 31, 2024 decreased compared with December 31, 2023, primarily due to the continued runoff of the IPO book