Primerica, the Duluth financial services firm, saw fourth quarter growth in its term life insurance business and strong sales of investment and savings products, the company said in a Thursday news release.
Primerica’s total revenue was $304.5 million, up 10 percent from the fourth quarter of 2011. Net income was $60.9 million for the quarter, an 8 percent increase.
For the year, Primerica’s total revenue rose 8 percent, to $1.2 billion, and net income was up 10 percent, to $173.8 million.
Term life net premiums were up 20 percent for the year, and investment and savings sales were up 10 percent in 2012. The company bought back 15 percent of its outstanding stock shares.
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