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.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
