Primerica (PRI) Approves $200M Buyback

Primerica, Inc. (NYSE: PRI) announced today that its Board of Directors has authorized a share repurchase program for the remainder of fiscal year 2015 and continuing through fiscal year 2016, pursuant to which the Company expects to repurchase up to $200 million of its common stock. The share repurchases may be made from time to time through open market transactions, block trades and/or privately negotiated transactions and are subject to market conditions, as well as corporate, regulatory, and other considerations.

Glenn Williams, Chief Executive Officer said, “One of the key benefits of Primerica’s diverse income sources is our capacity to generate and deploy capital to drive stockholder value. In each full year since our IPO, we have consistently returned 95% or more of operating earnings to stockholders while executing initiatives to drive long-term distribution growth. We recently completed our previously announced $150 million share repurchase program for 2015, and given our strong year to date performance in sales force growth, term life insurance sales, and Investment and Savings Products sales, our Board determined that the timing is ideal to continue our share repurchase program. This $200 million repurchase authority represents an incremental $50 million above our previously stated plan to annually return $150 million plus dividends to shareholders through 2016. This action reflects the company’s strong momentum, our positive long-term outlook for the company, and our dedication to delivering strong returns on equity.”

This share repurchase program may be discontinued at any time by the Board of Directors, and the Company has no obligation to repurchase any amount of its common stock under the program. The company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

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