Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 339

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 339
---
 inputs are considered in deriving the fair value of the underlying financial instrument, including interest rate and yield curves, credit spread, and foreign exchange rates. All significant inputs are observable, or derived from observable information in the marketplace or are supported by observable levels at which transactions are executed in the marketplace. Financial instruments in this category could include: cash equivalents and short-term investments in U.S. treasury securities; certain public and private corporate fixed-maturity and equity securities; government or agency securities; and certain mortgage- and asset-backed securities; and•Level 3. Valuations derived from valuation techniques in which one or more significant inputs are unobservable. Level 3 consists of financial instruments whose fair value is estimated based on industry-standard pricing methodologies and models using significant inputs not based on, nor corroborated by, readily available market information. Valuations for this category primarily consist of non-binding broker quotes. Financial instruments in this category could include less liquid mortgage- and asset-backed securities and equity securities.As of each reporting period, all assets and liabilities recorded at fair value are classified in their entirety based on the lowest level of input (Level 3 being the lowest in the hierarchy) that is significant to the fair value measurement. Significant levels of estimation and 

88

judgment are required to determine the fair value of certain of our investments. The factors influencing these estimations and judgments are subject to change in subsequent reporting periods.The estimated fair value and hierarchy classifications for assets and liabilities that are measured at fair value on a recurring basis were as follows: 

        December 31, 2024

        Level 1

        Level 2

        Level 3

        Total

        (In thousands)

        Fair value assets:

        Available-for-sale fixed-maturity securities:

        U.S. government and agencies
         
        $
        -

        $
        9,503

        $
        -

        $
        9,503

        Foreign government

        -

        166,424

        -

        166,424

        States and political subdivisions

        -

        113,569

        -

        113,569

        Corporates

        3,787

        1,821,321

        -

        1,825,108

        Mortgage-and asset-backed securities:

        Residential mortgage-backed securities

        -

        486,557

        -

        486,557

        Commercial mortgage-backed securities

        -

        99,445

        -

        99,445

        Other asset