Exhibit 99.1

PRIMERICA REPORTS FIRST QUARTER 2024 RESULTS

Continued momentum in recruiting and licensing, up 18% and 16%, respectively

Life-licensed sales force ended the quarter at 142,855, up 5%

Term Life net premiums grew 5%; adjusted direct premiums grew 6%

Investment and Savings Products sales of $2.8 billion, up 20%

Investment and Savings Products client asset values up 18%, ending the quarter at $103 billion

Earnings per diluted share (EPS) of $3.93 increased 14%; return on stockholders’ equity (ROE) was 25.9%

Diluted adjusted operating EPS of $3.91 increased 10%; adjusted net operating income return on adjusted stockholders’ equity (ROAE) was 24.1%

Declared dividend of $0.75 per share, payable on June 12, 2024, and repurchased $109 million of common stock during the quarter

Duluth, GA, May 6, 2024 – Primerica, Inc. (NYSE: PRI) today announced financial results for the quarter ended March 31, 2024. Total revenues of $742.8 million increased 8% compared to the first quarter of 2023. Net income of $137.9 million increased 8%, while earnings per diluted share of $3.93 increased 14% compared to the prior year period.

Adjusted operating revenues of $741.7 million increased 7% compared to the first quarter of 2023. Adjusted net operating income of $137.0 million increased 4%, while adjusted operating earnings per diluted share of $3.91 increased 10% compared to the prior year period.

Financial results during the first quarter of 2024 reflected the stability of the Company’s large in-force block of term life insurance, higher investment products sales, appreciation of client asset values, and the impact of higher interest rates on net investment income. Results were partly offset by weakness in the Senior Health business, which reported a loss of $14 million. Distribution results demonstrated sustained momentum in recruiting and the Company’s continued success in licensing new representatives.

“Our financial results reflect the fundamental strength in our core Term Life and ISP segments and the predictability of our model, particularly during uncertain times,” said Glenn Williams, Chief Executive Officer of Primerica, inc. “We started 2024 with solid momentum and we are well-positioned to grow the size of our sales force for the third consecutive year.”

First Quarter Distribution & Segment Results

* Not calculated

Life Insurance Licensed Sales Force

The attractiveness of Primerica’s business opportunity continues to generate a high degree of interest, creating momentum in both recruiting and licensing and fueling growth in the size of the sales force. During the first quarter, recruiting increased 18% compared to the same period in 2023 while new life licenses increased 16%. As of March 31, 2024, the Company had a total of 142,855 independent life-licensed representatives, a 5% increase year-over-year.

Term Life Insurance

Life insurance policies issued during the first quarter of 2024 increased 2% to 86,587, helping to drive $28.7 billion in term life face amount issued during the three months ended March 31, 2024. Productivity, as measured by the number of policies issued per life-licensed representative per month, was 0.20 policies compared to 0.21 policies in the first quarter of 2023.

Compared to the prior year period, first quarter revenues increased 5% to $440.4 million due principally to a 6% increase in adjusted direct premium. Pre-tax operating income of $138.4 million increased 6%. The benefits and claims ratio at 58.0% and the DAC amortization ratio at 12.2% were both stable year-over-year. The Term Life operating margin was 22.0%, in line with the prior year period

Investment and Savings Products

Total product sales of $2.8 billion during the first quarter increased 20% compared to the prior year period, driven by continued strong sales of mutual funds in both the U.S. and Canada as well as solid demand for variable annuities and managed accounts. On March 31, 2024, client asset values were $103 billion, up 18% year-over-year primarily due to strong equity market appreciation as well continued net client inflows of $274 million during the quarter.

First quarter revenues of $243.7 million increased 16% compared to the prior year period, while pre-tax operating income of $65.6 million increased 17% driven by a combination of strong sales and an increase in average client asset values. Sales-based commissions and fees revenues increased 23%, in line with a 24% increase in revenue generating product sales, while sales-based commission expenses increased 20%. Asset-based revenues increased 15%, in line with the growth in average client asset values. The change in asset-based commission expenses was consistent with asset-based revenues, excluding revenues on Canadian segregated funds. Expenses related to Canadian segregated funds are reflected in insurance commissions and amortization of DAC.

Senior Health

During the first quarter of 2024, a total of 15,023 policies were approved by carriers, representing 18% fewer policies than in the prior year period due to fewer tenured agents and the negative impact of an industry-wide service disruption in a third-party service provider that affected the ability of our agents to verify plan eligibility. The lifetime value of commissions per approved policy (“LTV”) was $926, while contract acquisition costs per approved policy (“CAC”) were $901 for a LTV/CAC ratio of 1.0.

First quarter revenues of $6.9 million included a $7.8 million negative tail revenue adjustment. The tail adjustment was largely driven by an increase in plan switching. Total contract acquisition costs declined 10% year-over-year, reflecting lower sales volume, while operating expenses remained unchanged. The operating loss was $14.2 million compared to a loss of $3.8 million in the prior year period. The Company did not contribute cash to the segment during the first quarter of 2024, nor does it expect to do so for the remainder of the year.

Corporate and Other Distributed Products

During the first quarter of 2024, the segment recorded an adjusted operating loss of $11.7 million compared to an adjusted operating loss of $11.0 million in the prior year period. Adjusted net investment income increased $6.6 million from the continued benefit of higher interest rates and growth in the size of the invested asset portfolio. Insurance and other operating expenses increased $7.4 million due to higher growth-related technology costs and employee-related compensation increase.

Capital

The Company repurchased 465,938 shares of common stock for $109 million during the first quarter of 2024 and the Board of Directors has approved a dividend of $0.75 per share, payable on June 12, 2024 to stockholders of record on May 21, 2024.

Primerica has a strong balance sheet, including invested assets and cash at the holding company of $281 million. Primerica Life Insurance Company’s statutory risk-based capital (RBC) ratio was estimated to be approximately 430% as of March 31, 2024.

Subsequent Event

In April 2024, the Company executed agreements providing for the payment of certain claims filed by the Company under a Representation and Warranty insurance policy negotiated and purchased in connection with the acquisition of e-TeleQuote Insurance. The claims made by the Company involved breaches of certain representations and warranties relating to the pre-acquisition financial statements made by the sellers of e-TeleQuote in connection with the acquisition. The Company will recognize a gain in earnings during the three months ended June 30, 2024 of $50 million, which is equal to the aggregate proceeds to be received from the third-party insurers under the policy, reflecting the full coverage under the policy. The proceeds of this claim will be excluded from second quarter adjusted operating results to provide comparability to the prior year results.

Non-GAAP Financial Measures

In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company presents certain non-GAAP financial measures. Specifically, the Company presents adjusted direct premiums, other ceded premiums, adjusted operating revenues, adjusted operating income before income taxes, adjusted net operating income, adjusted stockholders’ equity and diluted adjusted operating earnings per share.

Adjusted direct premiums and other ceded premiums are net of amounts ceded under coinsurance transactions that were executed concurrent with our initial public offering (the “IPO coinsurance transactions”) for all periods presented. We exclude amounts ceded under the IPO coinsurance transactions in measuring adjusted direct premiums and other ceded premiums to present meaningful comparisons of the actual premiums economically maintained by the Company. Amounts ceded under the IPO coinsurance transactions will continue to decline over time as policies terminate within this block of business.

Adjusted operating revenues, adjusted operating income before income taxes, adjusted net operating income and diluted adjusted operating earnings per share exclude the impact of investment gains (losses), including credit impairments, and fair value mark-to-market (“MTM”) investment adjustments for all periods presented. We exclude investment gains (losses), including credit impairments, and MTM investment adjustments in measuring these non-GAAP financial measures to eliminate period-over-period fluctuations that may obscure comparisons of operating results due to items such as the timing of recognizing gains (losses) and market pricing variations prior to an invested asset’s maturity or sale that are not directly associated with the Company’s insurance operations.

Adjusted stockholders’ equity excludes the impact of net unrealized investment gains (losses) recorded in accumulated other comprehensive income (loss) for all periods presented. We exclude unrealized investment gains (losses) in measuring adjusted stockholders’ equity as unrealized gains (losses) from the Company’s available-for-sale securities are largely caused by market movements in interest rates and credit spreads that do not necessarily correlate with the cash flows we will ultimately realize when an available-for-sale security matures or is sold. Adjusted stockholders’ equity also excludes the difference in future policy benefits calculated using the current discount rate and future policy benefits calculated using the locked-in discount rate at contract issuance recognized in accumulated other comprehensive income. We exclude the impact from the difference in the discount rate in measuring adjusted stockholders' equity as such difference is caused by market movements in interest rates that are not permanent and may not align with the cash flows we will ultimately incur when policy benefits are settled.

Our definitions of these non-GAAP financial measures may differ from the definitions of similar measures used by other companies. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company’s performance. Furthermore, management believes that these non-GAAP financial measures may provide users with additional meaningful comparisons between current results and results of prior periods as they are expected to be reflective of the core ongoing business. These measures have limitations and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP.

Reconciliations of GAAP to non-GAAP financial measures are attached to this release.

Earnings Webcast Information

Primerica will hold a webcast on Tuesday, May 7, 2024, at 10:00 a.m. Eastern, to discuss the quarter’s results. To access the webcast, go to https://investors.primerica.com at least 15 minutes prior to the event to register, download and install any necessary software. A replay of the call will be available for approximately 30 days. This release and a detailed financial supplement will be posted on Primerica’s website.

Forward-Looking Statements

Except for historical information contained in this press release, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contain known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from anticipated or projected results. Those risks and uncertainties include, among others, our failure to continue to attract and license new recruits, retain sales representatives or license or maintain the licensing of sales representatives; new laws or regulations that could apply to our distribution model, which could require us to modify our distribution structure; changes to the independent contractor status of sales representatives; our or sales representatives’ violation of or non-compliance with laws and regulations; litigation and regulatory investigations and actions concerning us or sales representatives; differences between our actual experience and our expectations regarding mortality, persistency, disability or insurance as reflected in the pricing for our insurance policies; changes in federal, state and provincial legislation or regulation that affects our insurance, investment product and mortgage businesses; our failure to meet regulatory capital ratios or other minimum capital and surplus requirements; a significant downgrade by a ratings organization; the failure of our reinsurers or reserve financing counterparties to perform their obligations; the failure of our investment products to remain competitive with other investment options or the loss of our relationship with one or more of the companies whose investment products we provide; heightened standards of conduct or more stringent licensing requirements for sales representatives; inadequate policies and procedures regarding suitability review of client transactions; revocation of our subsidiary’s status as a non-bank custodian; we may not be able to execute an effective senior health insurance business strategy; a failure by e-TeleQuote to comply with the requirements of the United States government’s Centers for Medicare and Medicaid Services and those of its carrier partners; legislative or regulatory changes to Medicare Advantage or changes to the implementing guidance by the Centers for Medicare and Medicaid Services; e-TeleQuote’s inability to acquire or generate leads on commercially viable terms, convert leads to sales or if customer policy retention is lower than assumed; e-TeleQuote’s inability to enroll individuals during the Medicare annual election period; the loss of a key carrier, or the modification of commission rates or underwriting practices with a key carrier partner could adversely affect e-TeleQuote’s business; a significant change to or disruption in the mortgage lenders’ mortgage businesses or an inability of the mortgage lenders to satisfy their contractual obligations to us; economic downcycles that impact our business, financial condition and results of operations; major public health pandemics, epidemics or outbreaks or other catastrophic events; the failure of our or a third-party partner’s information technology systems, breach of our information security, failure of our business continuity plan or the loss of the Internet; any failure to protect the confidentiality of client information; the current legislative and regulatory climate with regard to privacy and cybersecurity; cyber-attack(s), security breaches or if e-TeleQuote is otherwise unable to safeguard the security and privacy of confidential data, including personal health information; the effects of credit deterioration and interest rate fluctuations on our invested asset portfolio and other assets; incorrectly valuing our investments; changes in accounting standards may impact how we record and report our financial condition and results of operations; the inability of our subsidiaries to pay dividends or make distributions; litigation and regulatory investigations and actions; a significant change in the competitive environment in which we operate; the loss of key personnel or sales force leaders; the efficiency and success of business initiatives to enhance our technology, products and services; any acquisition or investment in businesses that do not perform as we expect or are difficult to integrate; and fluctuations in the market price of our common stock or Canadian currency exchange rates.

These and other risks and uncertainties affecting us are more fully described in our filings with the Securities and Exchange Commission, which are available in the "Investor Relations" section of our website at https://investors.primerica.com. Primerica assumes no duty to update its forward-looking statements as of any future date.

About Primerica, Inc.

Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial products and services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. We insured approximately 5.7 million lives and had approximately 2.9 million client investment accounts on December 31, 2023. Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in the United States and Canada in 2023. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.

Investor Contact:

Nicole Russell

470-564-6663
Email: Nicole.Russell@primerica.com

Media Contact:

Susan Chana

404-229-8302

Email: Susan.Chana@Primerica.com

Exhibit 99.2

Supplemental Financial Information

First Quarter 2024

This document may contain forward-looking statements and information. Additional information and factors that could cause actual results to differ materially from any forward-looking statements or information in this document is available in our Form 10-K for the year ended December 31, 2023.

First Quarter 2024

This document is a financial supplement to our first quarter 2024 earnings release. It is designed to enable comprehensive analysis of our ongoing business using the same core metrics that our management utilizes in assessing our business and making strategic and operational decisions. Throughout this document we provide financial information that is derived from our U.S. GAAP financial statements and adjusted for three different purposes, as follows:

• Operating adjustments exclude the impact of investment gains/losses, including credit impairmentsand mark-to-market (MTM) investment adjustments. We exclude investment gains/losses, including credit impairments, and MTM investment adjustments in measuring adjusted operating revenues to eliminate period-over-period fluctuations that may obscure comparisons of operating results due to items such as the timing of recognizing gains and losses and other factors prior to an invested asset's maturity or sale that are not directly associated with the Company's insurance operations.

• Adjusted stockholders’ equity refers to the removal of the impact of net unrealized gains and losses on invested assets. We exclude unrealized investment gains and losses in measuring adjusted stockholders' equity as unrealized gains and losses from the Company's invested assets are largely caused by market movements in interest rates and credit spreads that do not necessarily correlate with the cash flows we will ultimately realize when an invested asset matures or is sold. Adjustedstockholders' equity alsoexcludes the difference in future policy benefits calculated using the current discount rate and future policy benefits calculated using the locked-in discount rate at contract issuance recognized in accumulated other comprehensive income. We exclude the impact from the difference in the discount rate in measuring adjusted stockholders' equity as it is caused by market movements in interest rates that are not permanent and may not align with the cash flow we will ultimately incur when policy benefits are settled.

• IPO coinsurance transactions adjustments relate to transactions in the first quarter of 2010, where we coinsured between 80% and 90% of our business that was in-force at year-end 2009 to entities then affiliated with Citigroup Inc. that were executed concurrent with our initial public offering (IPO). We exclude amounts ceded under the IPO coinsurance transactions in measuring adjusted direct premiums and other ceded premiums to present meaningful comparisons of the actual premiums economically maintained by the Company. Amounts ceded under the IPO coinsurance transactions will continue to decline over time as policies terminate within this block of business.

Management utilizes these non-GAAP financial measures in managing the business and believes they present relevant and meaningful analytical metrics for evaluating the ongoing business. Reconciliations of non-GAAP to GAAP financial measures are included in this financial supplement.

Certain items throughout this supplement may not add due to rounding and as such, may not agree to other public reporting of the respective item. Certain items throughout this supplement are noted as ‘na’ to indicate not applicable. Certain variances are noted as ‘nm’ to indicate not meaningful. Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. These reclassifications had no impact on net income or total stockholders’ equity.