Primerica grows profits, buys back shares

Primerica, the Duluth-based insurance and financial services provider, reported on Tuesday a 3 percent increase in net income on higher revenue.  Primerica also said it repurchased nearly $200 million worth of shares held by the its former parent company.

Primerica reported net income of $40.6 million, or 53 cents per diluted share, vs. $39.6 million or 52 cents per diluted share a year ago. Operating revenue climbed 15 percent to $276 million.

Investment and savings product sales rose 29 percent compared to third quarter a year ago, and operating revenue in that segment grew 16 percent. Term life insurance operating revenue was up 22 percent.