Institutional investors own Primerica. The top shareholders include:
The Vanguard Group, Inc (4,276,754 shares)
Kayne Anderson Rudnick Investment Management LLC (3,908,076 shares)
FMR LLC (3,548,101 shares)
Blackrock Inc (3,291,752 shares)
Primerica is a financial services company. They were previously owned by Citigroup but were spun off through an initial public offering on April 1, 2010. Primerica provides insurance for more than five million people and manages more than 2.5 million client investment accounts.
The company was founded in 1977 by Arthur L. Williams Jr. The company's sales pitch was to "buy term and invest the difference." This concept was based on purchasing sufficient protection with term life insurance, while also saving and investing in separate investment vehicles (IRAs, mutual funds, etc).
Primerica is headquartered in Duluth, Georgia, and is the parent company of National Benefit Life Insurance Company, Primerica Life, Peach Re, and Vidalia Re. They also acquired e-Telequote in July 2021.
Primerica primarily sells term life insurance plans, but it also sells:
Mutual funds
Annuities
Segregated funds
Managed accounts
Long-term care insurance
Pre-paid legal services
Auto insurance
Home Insurance
Credit monitoring
Debt management plans
Primerica uses a multi-level marketing model to sell its policies by encouraging new insurance agents to sell policies to family members, friends, and co-workers and then recruit them to join the business. Agents who work for Primerica make money by selling policies and for the number of agents they recruit.
In 2021, Primerica's annual revenue was $2.71 billion, with approximately 2,800 employees.
