Primerica rides term-life gains

Duluth-based financial services firm Primerica outpaced expectations in second quarter, riding growth from term-life insurance policies.

The insurance and financial products seller said in a late Tuesday news release investment and savings division sales grew 5 percent over a year ago, and revenue from term life insurance premiums were up 28 percent.

Primerica said total revenue climbed 9 percent to $300.5 million. Net income was $46.2 million, or 72 cents per share, vs. $37.6 million, or 49 cents per share in second quarter 2011.

Primerica also announced this week it would buy back up to $75 million in common stock. Primerica shares finished up 5.5 percent Wednesday at $28.67.

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