Event to Showcase 2020 Initiatives, New Executive Hires, and 2019 Successes
Primerica, Inc. (NYSE:PRI), a leading provider of financial services to families in North America, is hosting over 500 of its top Regional Vice Presidents from across the U.S. and Canada to kick off the new year in Dallas on January 6-7, 2020. The event will launch Primerica’s next decade of helping people become properly protected and financially secure, and it will provide education and training opportunities for the sales leaders in attendance.
"As we enter 2020, the need for what Primerica does for families has never been greater, and we are more committed than ever to helping them achieve their financial goals," said Glenn Williams, Primerica CEO. "We will continue to improve the breadth and value of our products and services to enable us to meet more of our clients’ needs. We are using emerging technology to make our client interactions faster, more convenient, and more effective. These enhancements also help make our sales representatives more productive and improve our business opportunity for thousands of entrepreneurs across the U.S. and Canada."
Williams continued, "As competitors continue to move up market, we’re fortunate to have a diverse and talented sales force that provides us with a distinct competitive advantage in working to meet the financial needs of middle-income families. Events like our Dallas meeting ensure that our sales force is armed with the latest information and training they need to continue to deliver on our mission of helping people get on a path toward financial security."
Primerica announced today that it has expanded its talent base by adding two new executives to the Company’s existing management team. Estee Faranda joined the Company as of December 30, 2019 and will become the CEO of PFS Investments (PFSI). Faranda will assume responsibility for leading the Company’s investment and savings products (ISP) business from Bill Kelly, a long-time Primerica executive who has split his time between ISP leadership and serving as co-head of the Company’s Business Technology group. Kelly will devote his full attention to building out the Technology team to deliver industry-leading digital capabilities. In addition, PFSI’s strong team of existing Marketing and Operations leaders will remain focused on the growth of the ISP business.
Faranda is an accomplished business leader who joins Primerica from a leading platform provider in the managed account industry. Faranda was named among the "2018 Women to Watch" by Investment News, and also was named one of the "Top 16 Women in WealthTech" in 2019 by Investment Advisor. A well-known and dynamic industry speaker, she currently serves on the Board of Governors at the Money Management Institute.
Emily Rowe has been appointed to the role of Executive Vice President and Chief Actuary, effective February 10, 2020. Rowe will be replacing Dan Settle, who has served as Primerica’s Chief Actuary for the past 16 years and will retire at the end of 2020. Rowe has more than 20 years of actuarial management experience in the life insurance and financial services industries.
"Primerica is fortunate to have one of the strongest leadership teams within our industry," said Williams. "We’re pleased to have Estee and Emily join our team of proven senior management executives, helping ensure that we have positioned our top talent to achieve our major initiatives," said Williams. "These two accomplished leaders will help us continue to successfully execute our strategy to drive long-term growth."
The Company also will celebrate 2019 successes in Dallas, including the achievement of total face amount of life insurance in force of approximately $808 billion at year end, as well as an increase in projected Investment and Savings Products sales to over $7.5 billion. Primerica ended the year with a sales force of more than 130,500 life insurance-licensed representatives and more than 25,700 mutual fund-licensed representatives.
Additional 2019 production results include:
Recruiting of New Representatives: 282,207
Term Life Insurance Face Amount Issued: $94 billion
Term Life Insurance Claims Paid to Policy Beneficiaries: $1.4 billion
Client Asset Values of approximately $70 billion at year end
"We continued to execute our strategy to drive growth and improve performance by expanding distribution and prudently deploying capital, leading to another year of solid performance. I am proud of the leadership provided by our representatives in 2019. Thanks to their hard work and that of our employees, Primerica enters 2020 well-positioned to continue to deliver value to all of our stakeholders," says Williams.
1. All production results contained herein are projected.
About Primerica, Inc.
Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial 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, mutual funds, annuities and other financial products. Primerica insured approximately 5 million lives and had over 2 million client investment accounts at December 31, 2019. Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in North America in 2018. 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."
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Nicole Russell, 866-694-0420
Keith Hancock, 866-694-0420