Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 308

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 308
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ptions) used in estimating the liability for future policy benefits for term life insurance contracts required subjective 		auditor judgment and specialized skills and knowledge.

The following are the primary procedures we performed to address this critical audit matter. With the assistance of actuarial 		professionals with specialized skills and knowledge, we evaluated the design and tested the operating effectiveness of certain 		internal controls related to the Company’s process for estimating the liability for future policy benefits for term life insurance 	contracts. This included controls related to the actuarial methodologies and the key assumptions. We also involved actuarial 		professionals with specialized skills and knowledge, who assisted in:

•assessing the actuarial methodologies used to estimate the liability for future policy benefits for term life insurance contracts for consistency with generally accepted actuarial methodologies

•evaluating the Company’s key assumptions by comparing them to the Company’s relevant historical experience data and anticipated trends

•recalculating the projected cash flows for a selection of term life insurance contracts and comparing the results to the Company’s estimates.

/s/ KPMG LLP

We have served as the Company’s auditor since 2007.

Atlanta, Georgia

February 28, 2025

68

PRIMERICA, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

    December 31, 2024

    December 31, 2023

    (In thousands, except per-share amounts)

    Assets:

    Investments:

    Fixed-maturity securities available-for-sale, at fair value (amortized cost: $3,152,483 in 2024   and $2,935,212 in 2023)
     
    $
    2,946,126

    $
    2,719,467

    Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,227,428 in 2024 and   $1,334,892 in 2023)

    1,303,880

    1,386,980

    Short-term investments available-for-sale, at fair value (amortized cost: $276 in 2023)

    -

    276

    Equity securities, at fair value (historical cost: $22,935 in 2024 and $27,106 in 2023)

    27,144

    29,680

    Trading securities, at fair value (cost