Primerica, Inc. - FORM 8-K - EX-99.2

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8-K - 8-K - Primerica, Inc.	pri-8k_20180807.htm
EX-99.1 - EX-99.1 - Primerica, Inc.	pri-ex991_6.htm

Exhibit 99.2

Supplemental Financial Information

Second Quarter 2018

Table of Contents

PRIMERICA, INC.

Financial Supplement

	Page
Preface, definition of Non-GAAP financial measures	3
Condensed balance sheets and reconciliation of balance sheet non-GAAP to GAAP financial measures	4
Financial results and other statistical data	5
Statements of income	6
Reconciliation of statement of income GAAP to non-GAAP financial measures	7
Segment operating results	8
Term Life Insurance segment - financial results, key statistics, and financial analysis	9-10
Investment and Savings Products segment - financial results, financial analysis, and key statistics	11-12
Investment portfolio	13-15
Five-year historical key statistics	16

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, 2017.

2 of 16

Preface

PRIMERICA, INC.

Financial Supplement

Second Quarter 2018

This document is a financial supplement to our second quarter 2018 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 realized investment gains/losses, mark-to-market (MTM) investment adjustments, and the one-time transition impact of the Tax Cuts and Jobs Act of 2017 (Tax Reform). We exclude realized investment gains/losses 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. We exclude the provisional one-time transition impact from Tax Reform recognized in the fourth quarter of 2017, as well as all adjustments recognized in 2018 to the provisional one-time transition impact, to present meaningful and useful period-over-period comparisons that could be distorted by this historically infrequent tax law change.

•

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.

•

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.

3 of 16

Condensed Balance Sheets and Reconciliation of Balance Sheet Non-GAAP to GAAP Financial Measures

PRIMERICA, INC.

Financial Supplement

(Dollars in thousands)				Dec 31, 2016			Mar 31, 2017			Jun 30, 2017			Sep 30, 2017			Dec 31, 2017			Mar 31, 2018			Jun 30, 2018
Condensed Balance Sheets
Assets:
	Investments and cash excluding securities held to maturity			$	2,087,607		$	2,110,131		$	2,139,275		$	2,157,513		$	2,287,955		$	2,254,512		$	2,239,045
	Securities held to maturity				503,230			535,160			635,690			688,840			737,150			796,450			843,810
			Total investments and cash		2,590,837			2,645,291			2,774,965			2,846,353			3,025,105			3,050,962			3,082,855
	Due from reinsurers				4,193,562			4,219,547			4,191,754			4,238,978			4,205,173			4,263,111			4,199,275
	Deferred policy acquisition costs				1,713,065			1,767,681			1,833,877			1,900,122			1,951,892			1,998,985			2,053,445
	Other assets				653,525			681,156			719,765			734,425			705,661			759,973			772,058
	Separate account assets				2,287,953			2,356,320			2,424,937			2,486,960			2,572,872			2,419,707			2,389,007
			Total assets	$	11,438,943		$	11,669,996		$	11,945,297		$	12,206,839		$	12,460,704		$	12,492,737		$	12,496,640

Liabilities:
	Future policy benefits			$	5,673,890		$	5,736,313		$	5,812,217		$	5,894,882		$	5,954,524		$	6,004,101		$	6,057,112
	Other policy liabilities				631,700			642,640			645,443			656,434			685,885			693,223			673,912
	Income taxes				225,006			237,719			241,314			255,877			177,468			184,161			182,140
	Other liabilities				449,963			449,734			428,176			463,926			451,398			506,535			495,242
	Notes payable				372,919			373,011			373,103			373,196			373,288			373,381			373,474
	Surplus note				502,491			534,435			634,980			688,055			736,381			795,697			843,073
	Payable under securities lending				73,646			93,326			115,875			106,978			89,786			89,433			82,096
	Separate account liabilities				2,287,953			2,356,320			2,424,937			2,486,960			2,572,872			2,419,707			2,389,007
			Total liabilities		10,217,568			10,423,499			10,676,044			10,926,309			11,041,603			11,066,237			11,096,056

Stockholders’ equity:
	Common stock ($0.01 par value) (1)				457			455			450			444			443			440			432
	Paid-in capital				52,468			28,606			(0	)		(0	)		(0	)		(0	)		(0	)
	Retained earnings				1,138,851			1,182,038			1,224,375			1,228,546			1,375,090			1,416,564			1,409,104
	Treasury stock				—			—			—			—			—			—			—
	Accumulated other comprehensive income (loss), net:
		Net unrealized investment gains (losses) not other-than-temporarily impaired			42,852			47,534			49,883			47,191			39,686			14,039			1,493
		Net unrealized investment losses other-than-temporarily impaired			(62	)		(56	)		(54	)		(143	)		(113	)		(136	)		(136	)
		Cumulative translation adjustment			(13,193	)		(12,082	)		(5,401	)		4,492			3,995			(4,406	)		(10,309	)
			Total stockholders’ equity		1,221,374			1,246,497			1,269,253			1,280,530			1,419,101			1,426,500			1,400,584
			Total liabilities and stockholders' equity	$	11,438,943		$	11,669,996		$	11,945,297		$	12,206,839		$	12,460,704		$	12,492,737		$	12,496,640

Reconciliation of Adjusted Stockholders' Equity to Total Stockholders' Equity
Adjusted stockholders' equity				$	1,178,584		$	1,199,018		$	1,219,424		$	1,233,482		$	1,379,528		$	1,412,597		$	1,399,227
Reconciling items:
	Net unrealized investment gains (losses) not other-than-temporarily impaired				42,852			47,534			49,883			47,191			39,686			14,039			1,493
	Net unrealized investment losses other-than-temporarily impaired				(62	)		(56	)		(54	)		(143	)		(113	)		(136	)		(136	)
		Total reconciling items			42,791			47,479			49,829			47,048			39,573			13,903			1,357
			Total stockholders’ equity	$	1,221,374		$	1,246,497		$	1,269,253		$	1,280,530		$	1,419,101		$	1,426,500		$	1,400,584

Adjusted Stockholders' Equity Rollforward
Balance, beginning of period				$	1,149,131		$	1,178,584		$	1,199,018		$	1,219,424		$	1,233,482		$	1,379,528		$	1,412,597
	Net Income				56,874			52,069			63,107			66,635			168,443			65,714			86,699
	Shareholder dividends				(8,410	)		(8,882	)		(8,799	)		(9,120	)		(9,020	)		(11,278	)		(11,086	)
	Retirement of shares and warrants				(18,697	)		(36,353	)		(45,185	)		(57,916	)		(17,318	)		(51,563	)		(87,448	)
	Net foreign currency translation adjustment				(4,966	)		1,111			6,681			9,893			(497	)		(8,402	)		(5,903	)
	Other, net				4,653			12,489			4,602			4,565			4,437			38,598			4,367
Balance, end of period				$	1,178,584		$	1,199,018		$	1,219,424		$	1,233,482		$	1,379,528		$	1,412,597		$	1,399,227

Deferred Policy Acquisition Costs Rollforward
Balance, beginning of period				$	1,672,454		$	1,713,065		$	1,767,681		$	1,833,877		$	1,900,122		$	1,951,892		$	1,998,985
	General expenses deferred				8,226			9,489			9,061			9,350			8,887			9,599			9,800
	Commission costs deferred				89,647			95,923			99,341			102,113			99,411			104,314			103,192
	Amortization of deferred policy acquisition costs				(53,305	)		(51,850	)		(47,861	)		(53,384	)		(56,304	)		(60,165	)		(53,847	)
	Foreign currency impact and other, net				(3,957	)		1,054			5,653			8,166			(224	)		(6,655	)		(4,684	)
Balance, end of period				$	1,713,065		$	1,767,681		$	1,833,877		$	1,900,122		$	1,951,892		$	1,998,985		$	2,053,445

(1)	Outstanding common shares exclude restricted stock units.

4 of 16

Financial Results and Other Statistical Data

PRIMERICA, INC.

Financial Supplement

																					YOY Q2												YOY YTD
(Dollars in thousands, except per-share data)			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Earnings per Share
Basic earnings per share:
	Weighted-average common shares and fully vested equity awards			46,301,339			45,983,783			45,317,641			44,809,433			44,739,864			44,065,972			(1,917,811	)		-4.2	%		46,141,684			44,401,056			(1,740,628	)	-3.8%

	Net income		$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	23,592			37.4	%	$	115,176		$	152,413		$	37,237		32.3%
	Less income attributable to unvested participating securities			(421	)		(430	)		(465	)		(1,171	)		(425	)		(483	)		(53	)		-12.2	%		(859	)		(917	)		(59	)	-6.8%
		Net income used in computing basic EPS	$	51,648		$	62,677		$	66,170		$	167,272		$	65,289		$	86,216		$	23,540			37.6	%	$	114,317		$	151,496		$	37,178		32.5%
		Basic earnings per share	$	1.12		$	1.36		$	1.46		$	3.73		$	1.46		$	1.96		$	0.59			43.5	%	$	2.48		$	3.41		$	0.93		37.7%

	Adjusted net operating income		$	51,976		$	63,039		$	66,620		$	72,258		$	66,215		$	85,984		$	22,946			36.4	%	$	115,015		$	152,200		$	37,185		32.3%
	Less operating income attributable to unvested participating securities			(421	)		(430	)		(465	)		(502	)		(428	)		(479	)		(49	)		-11.4	%		(857	)		(916	)		(59	)	-6.8%
		Adjusted net operating income used in computing basic operating EPS	$	51,556		$	62,609		$	66,156		$	71,755		$	65,787		$	85,506		$	22,897			36.6	%	$	114,158		$	151,284		$	37,127		32.5%
		Basic adjusted operating income per share	$	1.11		$	1.36		$	1.46		$	1.60		$	1.47		$	1.94		$	0.58			42.5	%	$	2.47		$	3.41		$	0.93		37.7%

Diluted earnings per share:
	Weighted-average common shares and fully vested equity awards			46,301,339			45,983,783			45,317,641			44,809,433			44,739,864			44,065,972			(1,917,811	)		-4.2	%		46,141,684			44,401,056			(1,740,628	)	-3.8%
	Dilutive impact of contingently issuable shares			72,947			86,550			89,455			107,386			115,421			140,567			54,017			62.4	%		79,748			127,995			48,247		60.5%
		Shares used to calculate diluted EPS		46,374,286			46,070,333			45,407,096			44,916,819			44,855,285			44,206,539			(1,863,794	)		-4.0	%		46,221,432			44,529,051			(1,692,381	)	-3.7%

	Net income		$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	23,592			37.4	%	$	115,176		$	152,413		$	37,237		32.3%
	Less income attributable to unvested participating securities			(421	)		(430	)		(464	)		(1,169	)		(424	)		(481	)		(52	)		-12.1	%		(857	)		(915	)		(58	)	-6.7%
		Net income used in computing diluted EPS	$	51,648		$	62,677		$	66,171		$	167,275		$	65,290		$	86,217		$	23,540			37.6	%	$	114,319		$	151,498		$	37,179		32.5%
		Diluted earnings per share	$	1.11		$	1.36		$	1.46		$	3.72		$	1.46		$	1.95		$	0.59			43.4	%	$	2.47		$	3.40		$	0.93		37.6%

	Adjusted net operating income		$	51,976		$	63,039		$	66,620		$	72,258		$	66,215		$	85,984		$	22,946			36.4	%	$	115,015		$	152,200		$	37,185		32.3%
	Less operating income attributable to unvested participating securities			(420	)		(429	)		(464	)		(501	)		(427	)		(478	)		(48	)		-11.3	%		(856	)		(914	)		(58	)	-6.7%
		Adjusted net operating income used in computing diluted operating EPS	$	51,556		$	62,609		$	66,156		$	71,756		$	65,788		$	85,507		$	22,898			36.6	%	$	114,159		$	151,286		$	37,128		32.5%
		Diluted adjusted operating income per share	$	1.11		$	1.36		$	1.46		$	1.60		$	1.47		$	1.93		$	0.58			42.3	%	$	2.47		$	3.40		$	0.93		37.6%

																				YOY Q2												YOY YTD
		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Annualized Return on Equity
	Average stockholders' equity	$	1,233,936		$	1,257,875		$	1,274,892		$	1,349,815		$	1,422,801		$	1,413,542		$	155,667			12.4	%	$	1,245,905		$	1,418,171		$	172,266			13.8	%
	Average adjusted stockholders' equity	$	1,188,801		$	1,209,221		$	1,226,453		$	1,306,505		$	1,396,063		$	1,405,912		$	196,691			16.3	%	$	1,199,011		$	1,400,988		$	201,976			16.8	%

	Net income return on stockholders' equity		16.9	%		20.1	%		20.9	%		49.9	%		18.5	%		24.5	%		4.5	%	nm				18.5	%		21.5	%		3.0	%	nm
	Net income return on adjusted stockholders' equity		17.5	%		20.9	%		21.7	%		51.6	%		18.8	%		24.7	%		3.8	%	nm				19.2	%		21.8	%		2.5	%	nm

	Adjusted net operating income return on adjusted stockholders' equity		17.5	%		20.9	%		21.7	%		22.1	%		19.0	%		24.5	%		3.6	%	nm				19.2	%		21.7	%		2.5	%	nm

Capital Structure
	Debt-to-capital (1)		23.0	%		22.7	%		22.6	%		20.8	%		20.7	%		21.1	%		-1.7	%	nm				22.7	%		21.1	%		-1.7	%	nm

	Cash and invested assets to stockholders' equity		2.1	x		2.2	x		2.2	x		2.1	x		2.1	x		2.2	x		0.0	x	nm				2.2	x		2.2	x		0.0	x	nm
	Cash and invested assets to adjusted stockholders' equity		2.2	x		2.3	x		2.3	x		2.2	x		2.2	x		2.2	x		(0.1	x)	nm				2.3	x		2.2	x		(0.1	x)	nm

	Share count, end of period (2)		45,549,739			45,034,788			44,380,349			44,251,256			43,953,046			43,168,005			(1,866,783	)		-4.1	%		45,034,788			43,168,005			(1,866,783	)		-4.1	%
	Adjusted stockholders' equity per share	$	26.32		$	27.08		$	27.79		$	31.17		$	32.14		$	32.41		$	5.34			19.7	%	$	27.08		$	32.41		$	5.34			19.7	%

Financial Strength Ratings - Primerica Life Insurance Co
	Moody's	A2			A2			A2			A2			A2			A2			nm			nm			nm			nm			nm			nm
	S&P	AA-			AA-			AA-			AA-			AA-			AA-			nm			nm			nm			nm			nm			nm
	A.M. Best	A+			A+			A+			A+			A+			A+			nm			nm			nm			nm			nm			nm

Holding Company Senior Debt Ratings
	Moody's	Baa2			Baa2			Baa2			Baa2			Baa2			Baa2			nm			nm			nm			nm			nm			nm
	S&P	A-			A-			A-			A-			A-			A-			nm			nm			nm			nm			nm			nm
	A.M. Best	a-			a-			a-			a-			a-			a-			nm			nm			nm			nm			nm			nm

(1)	Debt-to-capital is that of the parent company only. Capital in the debt-to-capital ratio includes stockholders' equity and the note payable.

(2)	Share count reflects outstanding common shares, but excludes restricted stock units (RSUs).

5 of 16

Statements of Income

PRIMERICA, INC.

Financial Supplement

																					YOY Q2												YOY YTD
(Dollars in thousands)			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Statement of Income
Revenues:
	Direct premiums		$	627,698		$	637,426		$	646,079		$	650,906		$	656,087		$	667,191		$	29,764			4.7	%	$	1,265,124		$	1,323,278		$	58,153			4.6	%
	Ceded premiums			(399,769	)		(406,043	)		(397,641	)		(397,318	)		(394,249	)		(403,449	)		2,593			0.6	%		(805,811	)		(797,698	)		8,113			1.0	%
		Net premiums		227,929			231,384			248,438			253,587			261,838			263,741			32,357			14.0	%		459,313			525,579			66,266			14.4	%
	Net investment income			19,894			19,742			19,922			19,459			19,017			20,030			288			1.5	%		39,636			39,047			(589	)		-1.5	%
	Commissions and fees:
		Sales-based (1)		60,517			60,692			53,488			58,307			64,461			64,307			3,615			6.0	%		121,209			128,768			7,559			6.2	%
		Asset-based (2)		64,474			67,424			70,279			72,982			74,649			75,672			8,249			12.2	%		131,897			150,322			18,424			14.0	%
		Account-based (3)		13,217			13,282			13,811			14,720			20,595			20,438			7,156			53.9	%		26,499			41,033			14,534			54.8	%
		Other commissions and fees		6,060			6,919			7,049			8,097			7,122			7,523			604			8.7	%		12,979			14,644			1,666			12.8	%
	Realized investment (losses) gains			134			104			22			1,079			(1,656	)		1,313			1,208		nm				238			(344	)		(581	)	nm
	Other, net			12,939			14,150			14,291			14,710			13,897			14,790			640			4.5	%		27,089			28,687			1,598			5.9	%
	Total revenues			405,164			413,696			427,300			442,941			459,923			467,814			54,118			13.1	%		818,860			927,737			108,877			13.3	%
Benefits and expenses:
	Benefits and claims			102,385			99,512			105,864			108,259			116,890			105,069			5,558			5.6	%		201,897			221,960			20,063			9.9	%
	Amortization of DAC			51,850			47,861			53,384			56,304			60,165			53,847			5,986			12.5	%		99,710			114,011			14,301			14.3	%
	Insurance commissions			4,899			5,157			5,593			5,459			5,877			6,417			1,260			24.4	%		10,057			12,294			2,237			22.2	%
	Insurance expenses			37,621			36,920			37,636			35,102			41,109			43,451			6,531			17.7	%		74,541			84,560			10,019			13.4	%
	Sales commissions:
		Sales-based (1)		43,209			43,253			38,338			41,261			46,259			45,905			2,652			6.1	%		86,462			92,163			5,702			6.6	%
		Asset-based (2)		27,630			28,965			30,220			31,698			32,484			33,350			4,384			15.1	%		56,595			65,833			9,238			16.3	%
		Other sales commissions		2,865			3,221			3,463			3,864			3,777			3,700			479			14.9	%		6,086			7,477			1,390			22.8	%
	Interest expense			7,127			7,144			7,074			7,143			7,173			7,229			85			1.2	%		14,271			14,401			131			0.9	%
	Other operating expenses			52,736			45,274			45,528			45,762			63,228			55,083			9,809			21.7	%		98,011			118,311			20,300			20.7	%
	Total benefits and expenses			330,322			317,308			327,100			334,852			376,961			354,050			36,742			11.6	%		647,630			731,011			83,381			12.9	%
	Income before income taxes			74,841			96,389			100,200			108,089			82,962			113,764			17,375			18.0	%		171,230			196,726			25,496			14.9	%
Income taxes				22,772			33,282			33,565			(60,355	)		17,248			27,065			(6,217	)		-18.7	%		56,054			44,313			(11,741	)		-20.9	%
	Net income		$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	23,592			37.4	%	$	115,176		$	152,413		$	37,237			32.3	%

Income Before Income Taxes by Segment
Term Life			$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	13,972			22.6	%	$	110,877		$	135,448		$	24,571			22.2	%
Investment & Savings Products				37,119			39,684			39,050			46,982			39,985			43,228			3,544			8.9	%		76,803			83,213			6,410			8.3	%
Corporate & Other Distributed Products				(11,300	)		(5,149	)		(5,392	)		(7,131	)		(16,644	)		(5,291	)		(141	)		-2.7	%		(16,450	)		(21,935	)		(5,485	)		-33.3	%
	Income before income taxes		$	74,841		$	96,389		$	100,200		$	108,089		$	82,962		$	113,764		$	17,375			18.0	%	$	171,230		$	196,726		$	25,496			14.9	%

(1)	Sales-based - revenues or commission expenses relating to the sales of mutual funds and variable annuities.

(2)	Asset-based - revenues or commission expenses relating to the value of assets in client accounts for which we earn ongoing service, distribution, and other fees.

(3)	Account-based - revenues relating to the fee generating client accounts we administer.

6 of 16

Reconciliation of Statement of Income GAAP to Non-GAAP Financial Measures

PRIMERICA, INC.

Financial Supplement

																				YOY Q2												YOY YTD
(Dollars in thousands)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Reconciliation from Term Life Direct Premiums to Term Life Adjusted Direct Premiums
	Term Life direct premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	30,019			4.8	%	$	1,250,865		$	1,309,871		$	59,006			4.7	%
	Less: Premiums ceded to IPO Coinsurers		312,982			308,323			304,580			300,144			294,301			290,956			(17,366	)		-5.6	%		621,304			585,257			(36,047	)		-5.8	%
	Term Life adjusted direct premiums	$	307,397		$	322,163		$	334,251		$	344,230		$	355,065		$	369,548		$	47,385			14.7	%	$	629,560		$	724,614		$	95,053			15.1	%


Reconciliation from Term Life Ceded Premiums to Term Life Other Ceded Premiums
	Term Life ceded premiums	$	(398,077	)	$	(404,175	)	$	(395,772	)	$	(394,987	)	$	(392,561	)	$	(401,686	)	$	2,489			0.6	%	$	(802,252	)	$	(794,247	)	$	8,005			1.0	%
	Less: Premiums ceded to IPO Coinsurers		(312,982	)		(308,323	)		(304,580	)		(300,144	)		(294,301	)		(290,956	)		17,366			5.6	%		(621,304	)		(585,257	)		36,047			5.8	%
	Term Life other ceded premiums	$	(85,095	)	$	(95,852	)	$	(91,193	)	$	(94,843	)	$	(98,260	)	$	(110,730	)	$	(14,877	)		-15.5	%	$	(180,948	)	$	(208,990	)	$	(28,042	)		-15.5	%


Reconciliation from Net Investment Income to Adjusted Net Investment Income
	Net Investment Income	$	19,894		$	19,742		$	19,922		$	19,459		$	19,017		$	20,030		$	288			1.5	%	$	39,636		$	39,047		$	(589	)		-1.5	%
	Less: MTM investment adjustments		—			—			—			—			(1,288	)		(375	)	nm			nm				—			(1,663	)	nm			nm
	Adjusted net investment income	$	19,894		$	19,742		$	19,922		$	19,459		$	20,305		$	20,405		$	664			3.4	%	$	39,636		$	40,710		$	1,074			2.7	%


Reconciliation from Total Revenues to Adjusted Operating Revenues
	Total revenues	$	405,164		$	413,696		$	427,300		$	442,941		$	459,923		$	467,814		$	54,118			13.1	%	$	818,860		$	927,737		$	108,877			13.3	%
	Less: Realized investment gains/(losses)		134			104			22			1,079			(1,656	)		1,313		nm			nm				238			(344	)	nm			nm
	Less: MTM investment adjustments		—			—			—			—			(1,288	)		(375	)	nm			nm				—			(1,663	)	nm			nm
	Adjusted operating revenues	$	405,030		$	413,592		$	427,278		$	441,862		$	462,866		$	466,877		$	53,285			12.9	%	$	818,622		$	929,743		$	111,121			13.6	%


Reconciliation from Income Before Income Taxes to Adjusted Operating Income Before Income Taxes
	Income before income taxes	$	74,841		$	96,389		$	100,200		$	108,089		$	82,962		$	113,764		$	17,375			18.0	%	$	171,230		$	196,726		$	25,496			14.9	%
	Less: Realized investment gains/(losses)		134			104			22			1,079			(1,656	)		1,313		nm			nm				238			(344	)	nm			nm
	Less: MTM investment adjustments		—			—			—			—			(1,288	)		(375	)	nm			nm				—			(1,663	)	nm			nm
	Adjusted operating income before income taxes	$	74,708		$	96,285		$	100,178		$	107,010		$	85,906		$	112,827		$	16,542			17.2	%	$	170,992		$	198,733		$	27,740			16.2	%


Reconciliation from Net Income to Adjusted Net Operating Income
	Net income	$	52,069		$	63,107		$	66,635		$	168,443		$	65,714		$	86,699		$	23,592			37.4	%	$	115,176		$	152,413		$	37,237			32.3	%
	Less: Income before income taxes reconciling items		134			104			22			1,079			(2,944	)		937		nm			nm				238			(2,006	)	nm			nm
	Less: Tax impact of income before income taxes reconciling items		(41	)		(36	)		(8	)		(350	)		675			(223	)	nm			nm				(77	)		452		nm			nm
	Less: Transition impact of tax reform (1)		—			—			—			95,457			1,768			—		nm			nm				—			1,768		nm			nm
	Adjusted net operating income	$	51,976		$	63,039		$	66,620		$	72,258		$	66,215		$	85,984		$	22,946			36.4	%	$	115,015		$	152,200		$	37,185			32.3	%

(1)

Represents a preliminary estimate of the transition effect of revaluing deferred tax assets and liabilities to a 21% tax rate and the inclusion of tax on mandatory deemed repatriated foreign earnings expected to be recognized in the fourth quarter of 2017 due to the enactment of Tax Reform, which was signed into law on December 22, 2017. The final transition impact of Tax Reform may change from the preliminary estimate, possibly materially, when assumptions are refined and interpretations of the legislation are finalized including the Company’s application of any additional guidance that may be issued by the U.S. Department of the Treasury or the Internal Revenue Service.

7 of 16

Segment Operating Results

PRIMERICA, INC.

Financial Supplement

																				YOY Q2												YOY YTD
(Dollars in thousands)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Term Life Insurance
Revenues:
	Direct Premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	30,019			4.8	%	$	1,250,865		$	1,309,871		$	59,006			4.7	%
	Premiums ceded to IPO coinsurers (1)		(312,982	)		(308,323	)		(304,580	)		(300,144	)		(294,301	)		(290,956	)		17,366			5.6	%		(621,304	)		(585,257	)		36,047			5.8	%
	Adjusted direct premiums (2)		307,397			322,163			334,251			344,230			355,065			369,548			47,385			14.7	%		629,560			724,614			95,053			15.1	%
	Other ceded premiums (3)		(85,095	)		(95,852	)		(91,193	)		(94,843	)		(98,260	)		(110,730	)		(14,877	)		-15.5	%		(180,948	)		(208,990	)		(28,042	)		-15.5	%
	Net premiums		222,302			226,311			243,058			249,387			256,805			258,818			32,508			14.4	%		448,613			515,624			67,011			14.9	%
	Allocated net investment income		2,303			2,347			2,527			2,754			3,089			3,246			899			38.3	%		4,650			6,334			1,684			36.2	%
	Other, net		9,446			10,244			10,655			10,890			10,415			10,913			669			6.5	%		19,690			21,328			1,638			8.3	%
	Revenues		234,051			238,902			256,240			263,031			270,309			272,978			34,076			14.3	%		472,953			543,286			70,334			14.9	%

Benefits and expenses:
	Benefits and claims		97,771			95,532			101,351			103,559			112,831			101,755			6,224			6.5	%		193,302			214,586			21,284			11.0	%
	Amortization of DAC		50,133			44,937			50,386			56,294			56,673			51,257			6,320			14.1	%		95,070			107,930			12,859			13.5	%
	Insurance commissions		1,408			1,646			1,874			1,799			2,228			2,856			1,210			73.5	%		3,055			5,084			2,029			66.4	%
	Insurance expenses		35,717			34,932			36,086			33,142			38,956			41,282			6,351			18.2	%		70,649			80,238			9,589			13.6	%
	Benefits and expenses		185,029			177,047			189,697			194,794			210,688			197,150			20,103			11.4	%		362,076			407,838			45,762			12.6	%
	Income before income taxes	$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	13,972			22.6	%	$	110,877		$	135,448		$	24,571			22.2	%

Investment & Savings Products
Revenues:
	Commissions and fees:
	Sales-based	$	60,517		$	60,692		$	53,488		$	58,307		$	64,461		$	64,307		$	3,615			6.0	%	$	121,209		$	128,768		$	7,559			6.2	%
	Asset-based		64,474			67,424			70,279			72,982			74,649			75,672			8,249			12.2	%		131,897			150,322			18,424			14.0	%
	Account-based		13,217			13,282			13,811			14,720			20,595			20,438			7,156			53.9	%		26,499			41,033			14,534			54.8	%
	Other, net		2,199			2,376			2,480			2,499			2,336			2,424			47			2.0	%		4,575			4,760			184			4.0	%
	Revenues		140,407			143,774			140,058			148,508			162,042			162,841			19,067			13.3	%		284,181			324,882			40,701			14.3	%

Benefits and expenses:
	Amortization of DAC		1,734			2,310			2,780			(656	)		3,442			2,080			(231	)		-10.0	%		4,044			5,521			1,477			36.5	%
	Insurance commissions		2,959			3,050			3,219			3,278			3,199			3,132			83			2.7	%		6,008			6,332			323			5.4	%
	Sales commissions:
	Sales-based		43,209			43,253			38,338			41,261			46,259			45,905			2,652			6.1	%		86,462			92,163			5,702			6.6	%
	Asset-based		27,630			28,965			30,220			31,698			32,484			33,350			4,384			15.1	%		56,595			65,833			9,238			16.3	%
	Other operating expenses		27,756			26,512			26,451			25,945			36,673			35,147			8,635			32.6	%		54,268			71,820			17,552			32.3	%
	Benefits and expenses		103,288			104,090			101,008			101,526			122,057			119,613			15,523			14.9	%		207,378			241,670			34,292			16.5	%
	Income before income taxes	$	37,119		$	39,684		$	39,050		$	46,982		$	39,985		$	43,228		$	3,544			8.9	%	$	76,803		$	83,213		$	6,410			8.3	%

Corporate & Other Distributed Products
Revenues:
	Direct premiums	$	7,319		$	6,941		$	7,249		$	6,532		$	6,721		$	6,686		$	(255	)		-3.7	%	$	14,260		$	13,407		$	(853	)		-6.0	%
	Ceded premiums		(1,692	)		(1,868	)		(1,869	)		(2,331	)		(1,688	)		(1,763	)		105			5.6	%		(3,560	)		(3,451	)		108			3.0	%
	Net premiums		5,627			5,073			5,380			4,201			5,033			4,923			(150	)		-3.0	%		10,700			9,956			(745	)		-7.0	%
	Allocated net investment income		17,591			17,395			17,395			16,705			17,216			17,159			(236	)		-1.4	%		34,986			34,375			(610	)		-1.7	%
	Commissions and fees:
	Prepaid Legal Services		2,946			3,063			3,182			3,318			3,669			3,607			544			17.8	%		6,009			7,276			1,267			21.1	%
	Auto and Homeowners Insurance		1,815			2,166			1,980			2,238			1,347			1,800			(367	)		-16.9	%		3,981			3,146			(835	)		-21.0	%
	Other sales commissions		1,299			1,689			1,887			2,541			2,106			2,116			427			25.3	%		2,989			4,222			1,233			41.3	%
	Other, net		1,294			1,530			1,156			1,320			1,145			1,453			(76	)		-5.0	%		2,824			2,599			(225	)		-8.0	%
	Adjusted operating revenues		30,572			30,917			30,981			30,323			30,516			31,058			142			0.5	%		61,489			61,574			86			0.1	%

Benefits and expenses:
	Benefits and claims		4,615			3,980			4,513			4,700			4,059			3,314			(666	)		-16.7	%		8,595			7,373			(1,221	)		-14.2	%
	Amortization of DAC		(17	)		613			218			666			50			510			(103	)		-16.8	%		596			560			(35	)		-6.0	%
	Insurance commissions		532			461			500			382			450			428			(33	)		-7.1	%		994			879			(115	)		-11.6	%
	Insurance expenses		1,904			1,988			1,551			1,961			2,153			2,169			180			9.1	%		3,892			4,322			429			11.0	%
	Sales commissions		2,865			3,221			3,463			3,864			3,777			3,700			479			14.9	%		6,086			7,477			1,390			22.8	%
	Interest expense		7,127			7,144			7,074			7,143			7,173			7,229			85			1.2	%		14,271			14,401			131			0.9	%
	Other operating expenses		24,980			18,763			19,077			19,817			26,554			19,936			1,174			6.3	%		43,742			46,491			2,748			6.3	%
	Benefits and expenses		42,006			36,170			36,395			38,532			44,216			37,287			1,116			3.1	%		78,176			81,503			3,327			4.3	%
	Adjusted operating income before income taxes	$	(11,434	)	$	(5,254	)	$	(5,415	)	$	(8,209	)	$	(13,700	)	$	(6,228	)	$	(974	)		-18.5	%	$	(16,687	)	$	(19,928	)	$	(3,241	)		-19.4	%

(1)	Premiums ceded to IPO coinsurers - premiums ceded to IPO coinsurers under the IPO coinsurance transactions excluding any reimbursements from the IPO coinsurers on previously existing reinsurance agreements.

(2)	Adjusted direct premiums - direct premiums net of premiums ceded to IPO coinsurers.

(3)	Other ceded premiums - premiums ceded to non-IPO coinsurers net of any applicable reimbursements from the IPO coinsurers.

8 of 16

Term Life Insurance - Financial Results and Analysis

PRIMERICA, INC.

Financial Supplement

																				YOY Q2												YOY YTD
(Dollars in thousands)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change			% Change
Term Life Insurance Income Before Income Taxes
	Revenues:
	Direct Premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	30,019			4.8	%	$	1,250,865		$	1,309,871		$	59,006			4.7	%
	Premiums ceded to IPO coinsurers (1)		(312,982	)		(308,323	)		(304,580	)		(300,144	)		(294,301	)		(290,956	)		17,366			5.6	%		(621,304	)		(585,257	)		36,047			5.8	%
	Adjusted direct premiums (2)		307,397			322,163			334,251			344,230			355,065			369,548			47,385			14.7	%		629,560			724,614			95,053			15.1	%
	Other ceded premiums (3)		(85,095	)		(95,852	)		(91,193	)		(94,843	)		(98,260	)		(110,730	)		(14,877	)		-15.5	%		(180,948	)		(208,990	)		(28,042	)		-15.5	%
	Net premiums		222,302			226,311			243,058			249,387			256,805			258,818			32,508			14.4	%		448,613			515,624			67,011			14.9	%
	Allocated net investment income		2,303			2,347			2,527			2,754			3,089			3,246			899			38.3	%		4,650			6,334			1,684			36.2	%
	Other, net		9,446			10,244			10,655			10,890			10,415			10,913			669			6.5	%		19,690			21,328			1,638			8.3	%
	Revenues		234,051			238,902			256,240			263,031			270,309			272,978			34,076			14.3	%		472,953			543,286			70,334			14.9	%

	Benefits and expenses:
	Benefits and claims		97,771			95,532			101,351			103,559			112,831			101,755			6,224			6.5	%		193,302			214,586			21,284			11.0	%
	Amortization of DAC		50,133			44,937			50,386			56,294			56,673			51,257			6,320			14.1	%		95,070			107,930			12,859			13.5	%
	Insurance commissions		1,408			1,646			1,874			1,799			2,228			2,856			1,210			73.5	%		3,055			5,084			2,029			66.4	%
	Insurance expenses		35,717			34,932			36,086			33,142			38,956			41,282			6,351			18.2	%		70,649			80,238			9,589			13.6	%
	Benefits and expenses		185,029			177,047			189,697			194,794			210,688			197,150			20,103			11.4	%		362,076			407,838			45,762			12.6	%
	Income before income taxes	$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	13,972			22.6	%	$	110,877		$	135,448		$	24,571			22.2	%

Total Term Life Insurance - Financial Analysis
	Primary direct premiums (4)	$	227,390		$	240,580		$	250,457		$	258,524		$	267,615		$	280,209		$	39,629			16.5	%	$	467,970		$	547,824		$	79,854			17.1	%
	Legacy direct premiums (5)		392,989			389,906			388,373			385,849			381,751			380,295			(9,610	)		-2.5	%		782,894			762,046			(20,848	)		-2.7	%
	Total direct premiums	$	620,379		$	630,485		$	638,830		$	644,373		$	649,366		$	660,505		$	30,019			4.8	%	$	1,250,865		$	1,309,871		$	59,006			4.7	%

	Premiums ceded to IPO coinsurers	$	312,982		$	308,323		$	304,580		$	300,144		$	294,301		$	290,956		$	(17,366	)		-5.6	%	$	621,304		$	585,257		$	(36,047	)		-5.8	%
	% of Legacy direct premiums		79.6	%		79.1	%		78.4	%		77.8	%		77.1	%		76.5	%	nm			nm				79.4	%		76.8	%	nm			nm

	Benefits and claims, net (6)	$	182,866		$	191,384		$	192,544		$	198,402		$	211,091		$	212,485		$	21,101			11.0	%	$	374,250		$	423,576		$	49,326			13.2	%
	% of adjusted direct premiums		59.5	%		59.4	%		57.6	%		57.6	%		59.5	%		57.5	%	nm			nm				59.4	%		58.5	%	nm			nm

	DAC amortization & insurance commissions	$	51,542		$	46,584		$	52,260		$	58,094		$	58,901		$	54,113		$	7,529			16.2	%	$	98,125		$	113,014		$	14,889			15.2	%
	% of adjusted direct premiums		16.8	%		14.5	%		15.6	%		16.9	%		16.6	%		14.6	%	nm			nm				15.6	%		15.6	%	nm			nm

	Insurance expenses, net (7)	$	26,271		$	24,687		$	25,431		$	22,251		$	28,541		$	30,369		$	5,682			23.0	%	$	50,958		$	58,910		$	7,951			15.6	%
	% of adjusted direct premiums		8.5	%		7.7	%		7.6	%		6.5	%		8.0	%		8.2	%	nm			nm				8.1	%		8.1	%	nm			nm

	Total Term Life income before income taxes	$	49,022		$	61,855		$	66,543		$	68,237		$	59,621		$	75,827		$	13,972			22.6	%	$	110,877		$	135,448		$	24,571			22.2	%
	Term Life operating margin (8)		15.9	%		19.2	%		19.9	%		19.8	%		16.8	%		20.5	%	nm			nm				17.6	%		18.7	%	nm			nm

(1)	Premiums ceded to IPO coinsurers - premiums ceded to IPO coinsurers under the IPO coinsurance transactions excluding any reimbursements from the IPO coinsurers on previously existing reinsurance agreements.

(2)	Adjusted direct premiums - direct premiums net of premiums ceded to IPO coinsurers.

(3)	Other ceded premiums - premiums ceded to non-IPO coinsurers net of any applicable reimbursements from the IPO coinsurers.

(4)	Primary direct premiums - direct premiums not subject to the 2010 IPO coinsurance transactions.

(5)	Legacy direct premiums - direct premiums subject to the 2010 IPO coinsurance transactions.

(6)	Benefits and claims, net - benefits & claims net of other ceded premiums which are largely YRT.

(7)	Insurance expenses, net - insurance expenses net of other, net revenues.

(8)	Term Life operating margin - Term Life operating income before income taxes as a percentage of adjusted direct premiums.

9 of 16

Term Life Insurance - Key Statistics

PRIMERICA, INC.

Financial Supplement

																					YOY Q2												YOY YTD
(Dollars in thousands, except as noted)			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Key Statistics

Life-insurance licensed sales force, beginning of period				116,827			117,907			121,471			124,436			126,121			127,182			9,275			7.9	%		116,827			126,121			9,294			8.0	%
	New life-licensed representatives			10,903			12,947			12,783			11,902			11,730			13,544			597			4.6	%		23,850			25,274			1,424			6.0	%
	Non-renewal and terminated representatives			(9,823	)		(9,383	)		(9,818	)		(10,217	)		(10,669	)		(10,570	)		(1,187	)		-12.7	%		(19,206	)		(21,239	)		(2,033	)		-10.6	%
Life-insurance licensed sales force, end of period				117,907			121,471			124,436			126,121			127,182			130,156			8,685			7.1	%		121,471			130,156			8,685			7.1	%

Estimated annualized issued term life premium ($mills) (1):
	Premium from new policies		$	59.4		$	70.2		$	65.8		$	67.6		$	60.4		$	71.1		$	0.9			1.2	%	$	129.6		$	131.5		$	1.9			1.5	%
	Additions and increases in premium			15.1			16.5			16.4			17.5			16.9			18.7			2.2			13.3	%		31.6			35.6			4.0			12.5	%
		Total estimated annualized issued term life premium	$	74.5		$	86.7		$	82.2		$	85.1		$	77.3		$	89.8		$	3.0			3.5	%	$	161.2		$	167.1		$	5.8			3.6	%

Issued term life policies				70,642			84,033			78,056			80,068			70,821			83,754			(279	)		-0.3	%		154,675			154,575			(100	)		-0.1	%
Estimated average annualized issued term life premium per policy (1)(2)			$	841		$	836		$	843		$	845		$	853		$	849		$	13			1.6	%	$	838		$	851		$	13			1.5	%

Term life face amount in-force, beginning of period ($mills)			$	728,385		$	733,756		$	746,427		$	757,411		$	763,831		$	765,732		$	31,976			4.4	%	$	728,385		$	763,831		$	35,446			4.9	%
	Issued term life face amount (3)			21,628			25,458			24,035			24,515			22,258			26,001			543			2.1	%		47,086			48,259			1,173			2.5	%
	Terminated term life face amount			(16,704	)		(14,994	)		(16,331	)		(17,929	)		(17,788	)		(16,341	)		(1,347	)		-9.0	%		(31,698	)		(34,128	)		(2,431	)		-7.7	%
	Foreign currency impact, net			447			2,207			3,280			(165	)		(2,570	)		(1,788	)		(3,995	)	nm				2,654			(4,358	)		(7,012	)	nm
Term life face amount in-force, end of period			$	733,756		$	746,427		$	757,411		$	763,831		$	765,732		$	773,604		$	27,177			3.6	%	$	746,427		$	773,604		$	27,177			3.6	%

(1) Estimated annualized issued term life premium - estimated as average premium per $1,000 of face amounts issued on new policies and additions (before free look returns) multiplied by actual face amount issued on new policies, rider additions and face amount increases.

(2) In whole dollars.

(3) Issued term life face amount - includes face amount on issued term life policies, additional riders added to existing policies, and face increases under increasing benefit riders.

10 of 16

Investment and Savings Products - Financial Results and Financial Analysis

PRIMERICA, INC.

Financial Supplement

																				YOY Q2												YOY YTD
(Dollars in thousands, except as noted)		Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$ Change			% Change			YTD 2017			YTD 2018			$ Change		% Change
Investment & Savings Products Income Before Income Taxes
	Revenues:
	Commissions and fees:
	Sales-based	$	60,517		$	60,692		$	53,488		$	58,307		$	64,461		$	64,307		$	3,615			6.0	%	$	121,209		$	128,768		$	7,559		6.2	%
	Asset-based		64,474			67,424			70,279			72,982			74,649			75,672			8,249			12.2	%		131,897			150,322			18,424		14.0	%
	Account-based		13,217			13,282			13,811			14,720			20,595			20,438			7,156			53.9	%		26,499			41,033			14,534		54.8	%
	Other, net		2,199			2,376			2,480			2,499			2,336			2,424			47			2.0	%		4,575			4,760			184		4.0	%
	Revenues		140,407			143,774			140,058			148,508			162,042			162,841			19,067			13.3	%		284,181			324,882			40,701		14.3	%

	Benefits and expenses:
	Amortization of DAC		1,734			2,310			2,780			(656	)		3,442			2,080			(231	)		-10.0	%		4,044			5,521			1,477		36.5	%
	Insurance commissions		2,959			3,050			3,219			3,278			3,199			3,132			83			2.7	%		6,008			6,332			323		5.4	%
	Sales commissions:
	Sales-based		43,209			43,253			38,338			41,261			46,259			45,905			2,652			6.1	%		86,462			92,163			5,702		6.6	%
	Asset-based		27,630			28,965			30,220			31,698			32,484			33,350			4,384			15.1	%		56,595			65,833			9,238		16.3	%
	Other operating expenses		27,756			26,512			26,451			25,945			36,673			35,147			8,635			32.6	%		54,268			71,820			17,552		32.3	%
	Benefits and expenses		103,288			104,090			101,008			101,526			122,057			119,613			15,523			14.9	%		207,378			241,670			34,292		16.5	%
	Income before income taxes	$	37,119		$	39,684		$	39,050		$	46,982		$	39,985		$	43,228		$	3,544			8.9	%	$	76,803		$	83,213		$	6,410		8.3	%

Financial Analysis

	Fees paid based on client asset values (1)	$	4,884		$	5,088		$	5,440		$	5,697		$	5,690		$	5,833		$	744			14.6	%	$	9,972		$	11,523		$	1,550		15.5	%
	Fees paid based on fee-generating positions (2)		5,017			4,590			4,495			4,537			12,495			10,854			6,265			136.5	%		9,607			23,350			13,743		143.1	%
	Other operating expenses		17,855			16,834			16,516			15,711			18,488			18,460			1,626			9.7	%		34,689			36,948			2,259		6.5	%
	Total other operating expenses	$	27,756		$	26,512		$	26,451		$	25,945		$	36,673		$	35,147		$	8,635			32.6	%	$	54,268		$	71,820		$	17,552		32.3	%

	Sales-based net revenue as % of revenue-generating sales (3)
	U.S.		1.27	%		1.25	%		1.26	%		1.28	%		1.24	%		1.27	%	nm			nm				1.26	%		1.25	%	nm		nm
	Canada		1.01	%		0.99	%		0.98	%		0.97	%		1.05	%		0.95	%	nm			nm				1.00	%		1.01	%	nm		nm
	Total		1.23	%		1.21	%		1.22	%		1.24	%		1.20	%		1.22	%	nm			nm				1.22	%		1.21	%	nm		nm

	Asset-based net revenue as % of average asset values (4)
	U.S.		0.035	%		0.036	%		0.036	%		0.036	%		0.036	%		0.037	%	nm			nm				0.072	%		0.073	%	nm		nm
	Canada		0.129	%		0.123	%		0.120	%		0.154	%		0.111	%		0.123	%	nm			nm				0.252	%		0.234	%	nm		nm
	Total		0.051	%		0.050	%		0.050	%		0.055	%		0.048	%		0.051	%	nm			nm				0.101	%		0.099	%	nm		nm

	Account-based net revenue per average fee generating position (5)(6)	$	2.84		$	2.98		$	3.20		$	3.52		$	2.90		$	3.49		nm			nm			$	5.82		$	6.38		nm		nm

(1)	Fees paid based on client asset values - administration fees on Canadian Segregated Funds and advisory fees on Managed Accounts that vary directly with client asset values.

(2)	Fees paid based on fee-generating positions - recordkeeping fees that vary with the number of fee-generating positions.

(3)	Sales-based net revenue - commission and fee revenue less commissions paid to the sales force based on product sales activity.

(4)	Asset-based net revenue - commission and fee revenue less administration and advisory fees paid to third-party providers and commissions paid to the sales force earned based on product account values including amortization of deferred acquisition costs for segregated funds.

(5)	Account-based net revenue - fee revenue less recordkeeping fees paid to third-party providers based on fee-generating positions and certain direct general expenses.

(6)	In whole dollars.

11 of 16

Investment and Savings Products - Key Statistics

PRIMERICA, INC.

Financial Supplement

																							YOY Q2												YOY YTD
(Dollars in thousands, except as noted)					Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$/# Change			% Change			YTD 2017			YTD 2018			$/# Change			% Change
Key Statistics

	Product sales ($mills)
		U.S. Retail Mutual Funds			$	752.2		$	804.2		$	707.4		$	752.7		$	792.4		$	800.6		$	(3.6	)		-0.5	%	$	1,556.5		$	1,593.0		$	36.5			2.3	%
		Canada Retail Mutual Funds				232.8			182.7			170.8			199.3			276.2			199.2			16.6			9.1	%		415.5			475.4			59.9			14.4	%
		Indexed Annuities				80.9			83.6			64.2			58.4			67.5			71.9			(11.6	)		-13.9	%		164.5			139.5			(25.0	)		-15.2	%
		Variable Annuities and other				346.2			366.5			301.7			368.2			376.1			432.2			65.7			17.9	%		712.7			808.3			95.6			13.4	%
				Total sales-based revenue generating product sales		1,412.2			1,437.0			1,244.1			1,378.5			1,512.2			1,504.0			67.0			4.7	%		2,849.1			3,016.2			167.0			5.9	%
		Managed Accounts				70.8			72.4			125.4			159.7			188.8			204.3			132.0		nm				143.1			393.1			250.0		nm
		Segregated Funds				102.4			63.5			61.7			64.7			82.0			50.6			(12.9	)		-20.3	%		165.9			132.7			(33.2	)		-20.0	%
				Total product sales	$	1,585.3		$	1,572.8		$	1,431.2		$	1,602.9		$	1,783.0		$	1,758.9		$	186.1			11.8	%	$	3,158.1		$	3,542.0		$	383.8			12.2	%

		Canada Retail Mutual Funds			$	232.8		$	182.7		$	170.8		$	199.3		$	276.2		$	199.2		$	16.6			9.1	%	$	415.5		$	475.4		$	59.9			14.4	%
		Segregated Funds				102.4			63.5			61.7			64.7			82.0			50.6			(12.9	)		-20.3	%		165.9			132.7			(33.2	)		-20.0	%
			Total Canada product sales			335.2			246.2			232.5			264.0			358.2			249.8			3.6			1.5	%		581.4			608.1			26.7			4.6	%
			Total U.S. product sales			1,250.1			1,326.6			1,198.7			1,338.8			1,424.8			1,509.1			182.4			13.8	%		2,576.8			2,933.9			357.1			13.9	%
				Total product sales	$	1,585.3		$	1,572.8		$	1,431.2		$	1,602.9		$	1,783.0		$	1,758.9		$	186.1			11.8	%	$	3,158.1		$	3,542.0		$	383.8			12.2	%

	Client asset values, beginning of period ($mills)				$	52,339		$	54,925		$	56,591		$	58,671		$	61,167		$	60,821		$	5,896			10.7	%	$	52,339		$	61,167		$	8,828			16.9	%
		Inflows				1,585			1,573			1,431			1,603			1,783			1,759			186			11.8	%		3,158			3,542			384			12.2	%
		Outflows (1)				(1,266	)		(1,318	)		(1,258	)		(1,306	)		(1,571	)		(1,498	)		(180	)		-13.7	%		(2,583	)		(3,069	)		(486	)		-18.8	%
				Net flows		320			255			174			297			212			261			6			2.2	%		575			473			(102	)	nm
		Foreign currency impact, net				47			241			354			(18	)		(283	)		(195	)		(436	)	nm				288			(478	)		(766	)	nm
		Change in market value, net and other (2)				2,219			1,170			1,552			2,217			(276	)		891			(280	)		-23.9	%		3,389			615			(2,774	)	nm
	Client asset values, end of period				$	54,925		$	56,591		$	58,671		$	61,167		$	60,821		$	61,777		$	5,186			9.2	%	$	56,591		$	61,777		$	5,186			9.2	%
		Annualized net flows as % of beginning of period asset values				2.4	%		1.9	%		1.2	%		2.0	%		1.4	%		1.7	%		-0.1	%	nm				2.2	%		1.5	%		-0.7	%	nm

	Average client asset values ($mills)
		U.S. Retail Mutual Funds			$	26,899		$	27,890		$	28,756		$	29,826		$	30,674		$	30,348		$	2,458			8.8	%	$	27,395		$	30,511		$	3,116			11.4	%
		Canada Retail Mutual Funds				6,434			6,673			6,960			7,255			7,508			7,444			771			11.6	%		6,553			7,476			923			14.1	%
		Managed Accounts				1,954			2,084			2,246			2,494			2,739			2,930			846			40.6	%		2,019			2,834			815			40.4	%
		Indexed Annuities				1,699			1,774			1,836			1,890			1,939			1,997			223			12.6	%		1,737			1,968			231			13.3	%
		Variable Annuities and other				14,505			14,982			15,394			15,928			16,333			16,176			1,194			8.0	%		14,744			16,254			1,511			10.2	%
		Segregated Funds				2,331			2,375			2,463			2,513			2,510			2,402			28			1.2	%		2,353			2,456			103			4.4	%
				Total	$	53,823		$	55,778		$	57,656		$	59,906		$	61,704		$	61,297		$	5,519			9.9	%	$	54,801		$	61,500		$	6,700			12.2	%

		Canada Retail Mutual Funds			$	6,434		$	6,673		$	6,960		$	7,255		$	7,508		$	7,444		$	771			11.6	%	$	6,553		$	7,476		$	923			14.1	%
		Segregated Funds				2,331			2,375			2,463			2,513			2,510			2,402			28			1.2	%		2,353			2,456			103			4.4	%
			Total Canada average client assets			8,765			9,048			9,423			9,768			10,018			9,846			798			8.8	%		8,906			9,932			1,026			11.5	%
			Total U.S. average client assets			45,058			46,730			48,233			50,138			51,685			51,451			4,721			10.1	%		45,894			51,568			5,674			12.4	%
				Total average client assets	$	53,823		$	55,778		$	57,656		$	59,906		$	61,704		$	61,297		$	5,519			9.9	%	$	54,801		$	61,500		$	6,700			12.2	%

	Average number of fee-generating positions (thous) (3)
		Recordkeeping and custodial				2,218			2,237			2,235			2,215			2,130			2,086			(151	)		-6.8	%		2,228			2,108			(120	)		-5.4	%
		Recordkeeping only				670			676			678			677			665			660			(16	)		-2.4	%		673			662			(10	)		-1.5	%
				Total		2,887			2,913			2,913			2,892			2,795			2,746			(167	)		-5.7	%		2,900			2,770			(130	)		-4.5	%

(1)

Asset value outflows - include (a) redemptions of assets, (b) sales charges on the inflow sales figures, and (c) the net flow of money market funds sold and redeemed on the company's recordkeeping platform. The redemptions of assets must be estimated for approximately 4% of account values as these figures are not readily available. Actual redemptions as a percentage of account values for similar known account values are used to estimate the unknown redemption values.

(2)	Change in market value, net - market value fluctuations net of fees and expenses.

(3)

Fee generating positions - mutual fund positions for which we receive recordkeeping fees. An individual client account may include multiple mutual fund positions. We may also receive fees earned for custodial services that we provide to clients with retirement plan accounts that hold positions in these mutual funds.

12 of 16

Investment Portfolio - Summary of Holdings

PRIMERICA, INC.

Financial Supplement

				As of or for the period ended June 30, 2018
											% of Total						Avg
				Market		Amortized		Unrealized			Market			Amortized			Book			Avg
(Dollars in thousands)				Value		Cost		G/(L)			Value			Cost			Yield			Rating
Investment Portfolio by Asset Class

Cash and cash equivalents				$	159,280	$	159,280	$	-			7.2	%		7.2	%

Fixed Income:
	Treasury				27,245		27,087		158			1.2	%		1.2	%		2.33	%	AAA
	Government				190,047		186,549		3,498			8.6	%		8.5	%		3.31	%	AA-
	Tax-Exempt Municipal				1,274		1,275		(1	)		0.1	%		0.1	%		1.40	%	A-
	Corporate				1,285,659		1,286,129		(470	)		58.2	%		58.3	%		4.05	%	BBB+
	Mortgage-Backed				161,121		161,148		(28	)		7.3	%		7.3	%		3.47	%	AAA
	Asset-Backed				72,470		72,723		(252	)		3.3	%		3.3	%		3.06	%	AA
	CMBS				137,604		138,103		(500	)		6.2	%		6.3	%		3.82	%	AAA
	Private				130,317		130,970		(654	)		5.9	%		5.9	%		4.69	%	BBB
	Redeemable Preferred				3,233		3,050		183			0.1	%		0.1	%		12.48	%	BBB
			Total Fixed Income		2,008,970		2,007,036		1,934			91.0	%		91.0	%		3.91	%	A

Equities:
	Perpetual Preferred				16,449		16,449		-			0.7	%		0.7	%
	Common Stock				15,951		15,951		-			0.7	%		0.7	%
	Mutual Fund				6,182		6,182		-			0.3	%		0.3	%
	Other				1,260		1,260		-			0.1	%		0.1	%
			Total Equities		39,842		39,842		-			1.8	%		1.8	%

			Total Invested Assets	$	2,208,092	$	2,206,157	$	1,934			100.0	%		100.0	%

Corporate Portfolio by Sector

	Consumer Non Cyclical			$	158,384	$	159,434	$	(1,050	)		12.3	%		12.4	%
	Banking				155,596		156,127		(530	)		12.1	%		12.1	%
	Reits				131,082		131,811		(729	)		10.2	%		10.2	%
	Energy				125,593		124,989		604			9.8	%		9.7	%
	Insurance				105,382		105,652		(270	)		8.2	%		8.2	%
	Technology				100,389		100,538		(149	)		7.8	%		7.8	%
	Communications				85,212		84,739		473			6.6	%		6.6	%
	Capital Goods				85,191		85,295		(104	)		6.6	%		6.6	%
	Electric				81,009		80,148		861			6.3	%		6.2	%
	Consumer Cyclical				79,645		79,450		195			6.2	%		6.2	%
	Basic Industry				72,081		71,513		568			5.6	%		5.6	%
	Transportation				48,201		48,877		(676	)		3.7	%		3.8	%
	Brokerage				29,036		28,749		288			2.3	%		2.2	%
	Industrial Other				11,104		11,066		38			0.9	%		0.9	%
	Finance Companies				10,319		10,440		(120	)		0.8	%		0.8	%
	Natural Gas				5,676		5,533		143			0.4	%		0.4	%
	Utility Other				985		998		(12	)		0.1	%		0.1	%
	Financial Other				773		771		2			0.1	%		0.1	%
			Total Corporate portfolio	$	1,285,659	$	1,286,129	$	(470	)		100.0	%		100.0	%

Fixed-Maturity Securities - Effective Maturity


Effective maturity
		< 1 Yr.		$	232,478	$	230,212	$	2,266			11.6	%		11.5	%		4.57	%
		1-2 Yrs.			227,662		225,032		2,630			11.3	%		11.2	%		4.11	%
		2-5 Yrs.			814,890		813,745		1,145			40.6	%		40.5	%		3.69	%
		5-10 Yrs.			677,567		684,678		(7,111	)		33.7	%		34.1	%		3.84	%
		> 10 Yrs.			56,372		53,368		3,004			2.8	%		2.7	%		4.47	%
			Total Fixed Income	$	2,008,970	$	2,007,036	$	1,934			100.0	%		100.0	%		3.91	%

Duration

Fixed Income portfolio duration					3.7	years

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

13 of 16

Investment Portfolio - Quality Ratings As of June 30, 2018

PRIMERICA, INC.

Financial Supplement

(Dollars in thousands)
Investment Portfolio Quality Ratings (1)
			Amortized Cost		% of Total
Total Fixed Income portfolio:
	Rating
	AAA		$	420,195		20.9	%
	AA			197,148		9.8	%
	A			460,740		23.0	%
	BBB			863,824		43.0	%
	Below Investment Grade			61,787		3.1	%
	NA			3,341		0.2	%
		Total Fixed Income	$	2,007,036		100.0	%




			Amortized Cost		% of Total							Amortized Cost		% of Total
Corporate asset class:								Private asset class:
	Rating								Rating
	AAA		$	18,099		1.4	%		AAA			$	-		—
	AA			90,222		7.0	%		AA				1,102		0.8	%
	A			383,546		29.8	%		A				13,625		10.4	%
	BBB			737,417		57.3	%		BBB				114,173		87.2	%
	Below Investment Grade			56,659		4.4	%		Below Investment Grade				2,071		1.6	%
	NA			186		0.0	%		NA				-		—
		Total Corporate	$	1,286,129		100.0	%				Total Private	$	130,970		100.0	%



CMBS asset class:								Mortgage-Backed asset class:
	Rating								Rating
	AAA		$	132,623		96.0	%		AAA			$	159,002		98.7	%
	AA			398		0.3	%		AA				0		0.0	%
	A			4,181		3.0	%		A				727		0.5	%
	BBB			-		—			BBB				616		0.4	%
	Below Investment Grade			901		0.7	%		Below Investment Grade				710		0.4	%
	NA			-		—			NA				92		0.1	%
		Total CMBS	$	138,103		100.0	%				Total Mortgage-Backed	$	161,148		100.0	%



Asset-Backed asset class:								Treasury & Government asset classes:
	Rating								Rating
	AAA		$	41,640		57.3	%		AAA			$	68,307		32.0	%
	AA			6,200		8.5	%		AA				98,474		46.1	%
	A			20,192		27.8	%		A				38,469		18.0	%
	BBB			1,551		2.1	%		BBB				7,120		3.3	%
	Below Investment Grade			179		0.2	%		Below Investment Grade				1,267		0.6	%
	NA			2,960		4.1	%		NA				0		0.0	%
		Total Asset-Backed	$	72,723		100.0	%				Total Treasury & Government	$	213,637		100.0	%



NAIC Designations

	1		$	920,931		52.2	%
	2			784,559		44.5	%
	3			47,756		2.7	%
	4			10,160		0.6	%
	5			999		0.1	%
	6			3		0.0	%			`
		U.S. Insurer Fixed Income (2)		1,764,408		100.0	%
	Other (3)			282,469
	Cash and cash equivalents			159,280
		Total Invested Assets	$	2,206,157

(1)	Ratings method for split ratings: If by 2 NRSROs, use lower of the two; if by 3 or more NRSROs, use second lowest.

(2)	NAIC ratings for our U.S. insurance companies' fixed income portfolios.

(3)	Other consists of assets held by our non-life companies, Canadian insurance company, and unrated equities.

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

14 of 16

Investment Portfolio - Supplemental Data and Trends

PRIMERICA, INC.

Financial Supplement

																						YOY Q2
(Dollars in thousands)				Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			$ Change			% Change
Net Investment Income by Source
	Fixed-maturity securities (available-for-sale)			$	19,069		$	19,200		$	19,268		$	19,340		$	19,289		$	19,743		$	543		2.8%
	Fixed-maturity securities (held-to-maturity)				5,718			6,087			7,231			7,829			8,373			9,052			2,965		48.7%
	Equity Securities				535			515			525			519			513			466			(49	)	-9.5%
	Deposit asset underlying 10% reinsurance treaty				1,032			770			869			299			1,181			1,270			500		64.9%
	Deposit asset - Mark to Market				—			—			—			—			(1,288	)		(375	)		(375	)	n/m
	Policy loans and other invested assets				305			317			395			397			411			390			73		23.0%
	Cash & cash equivalents				194			246			282			402			586			641			395		n/m
			Total investment income		26,853			27,135			28,570			28,786			29,065			31,187			4,052		14.9%
	Investment expenses				1,241			1,306			1,417			1,498			1,675			2,105			799		61.2%
	Interest Expense on Surplus Note				5,718			6,087			7,231			7,829			8,373			9,052			2,965		48.7%
			Net investment income	$	19,894		$	19,742		$	19,922		$	19,459		$	19,017		$	20,030		$	288		1.5%
		Fixed income book yield, end of period			4.18	%		4.11	%		4.04	%		3.97	%		3.92	%		3.91	%
		New money yield			2.31	%		2.83	%		2.85	%		2.28	%		2.43	%		3.16	%

																						YOY Q2
				Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018			% Pt Change
Fixed Income Portfolio Quality Ratings
	Rating
	AAA				17.4	%		17.3	%		18.6	%		19.2	%		19.8	%		20.9	%		3.6	%
	AA				9.5	%		8.4	%		8.5	%		8.4	%		8.6	%		9.8	%		1.4	%
	A				21.6	%		23.5	%		22.5	%		22.2	%		23.4	%		23.0	%		-0.6	%
	BBB				46.0	%		45.8	%		46.3	%		46.5	%		44.6	%		43.0	%		-2.8	%
	Below Investment Grade				5.0	%		4.5	%		3.7	%		3.5	%		3.4	%		3.1	%		-1.5	%
	NA				0.4	%		0.3	%		0.3	%		0.2	%		0.2	%		0.2	%		-0.2	%
			Total Fixed Income		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%	nm

			Average rating by amortized cost	A-			A-			A-			A			A			A			na

				As of June 30, 2018									As of June 30, 2018						As of June 30, 2018
				Market Value			Amortized Cost			Credit Rating			Market Value		Amortized Cost				Market Value		Amortized Cost
Top 25 Exposures											Foreign Exposure (1)						Government Investments (1)

	1	Canada		$	22,258		$	22,142		AAA	Canada		$	68,159	$	68,167	AAA		$	3,206	$	3,250
	2	Province of Ontario Canada			11,059			10,849		A+	Australia			54,977		54,780	AA			13,722		13,785
	3	Wells Fargo & Co			10,992			11,052		A-	United Kingdom			46,226		46,342	A			11,231		11,063
	4	National Rural Utilities Cooperative			10,520			10,282		A	Germany			17,798		18,052	BBB			7,223		7,120
	5	Municipal Finance Authority of British Columbia			10,403			10,513		AAA	France			17,442		17,412	Below Investment Grade			1,249		1,267
	6	Province of British Columbia Canada			10,328			10,326		AAA	Switzerland			15,151		15,269	NA			—		—
	7	Province of Quebec Canada			9,985			9,308		A+	Bermuda			14,628		14,501		Total	$	36,631	$	36,485
	8	Province of Alberta Canada			9,764			9,716		A+	Ireland			13,550		13,649
	9	General Electric Co			9,717			9,830		A	Cayman Islands			11,273		11,179
	10	City of Toronto Canada			9,358			9,378		AA	Netherlands			9,790		9,071	Non-Government Investments (1)
	11	AT&T Inc			9,332			8,777		BBB+	Japan			7,720		7,699
	12	Comcast Corp			8,424			8,515		A-	Mexico			7,059		6,975	AAA		$	2,160	$	2,154
	13	Enbridge Inc			8,252			8,251		BBB+	Belgium			6,159		6,115	AA			33,339		33,672
	14	Microsoft Corp			7,929			7,903		AAA	Norway			5,924		6,070	A			104,015		104,471
	15	American Airlines Group Inc			7,773			8,097		AA-	Israel			5,316		5,363	BBB			166,228		164,630
	16	National Fuel Gas Co			7,314			7,083		BBB	Emerging Markets (2)			12,444		12,410	Below Investment Grade			5,244		5,524
	17	Bank of New York Mellon Corp/T			7,110			7,142		AA-	All Other			34,102		33,983	NA			103		103
	18	General Mills Inc			7,030			7,316		BBB		Total	$	347,720	$	347,038		Total	$	311,089	$	310,553
	19	Discovery Inc			6,908			6,790		BBB-
	20	Booking Holdings Inc			6,848			7,022		BBB+
	21	Bank of America Corp			6,818			6,845		A-
	22	Brookfield Asset Management Inc			6,808			6,847		A-
	23	Eversource Energy			6,747			6,880		A+
	24	United Continental Holdings Inc			6,747			7,024		BB
	25	TransCanada Corp			6,585			6,598		BBB+
			Total	$	225,013		$	224,486

			% of total fixed income portfolio		10.2	%		10.2	%

(1)	US$ denominated investments in issuers outside of the United States based on country of risk.

(2)	Emerging markets is as defined by MSCI, Inc. which include Chile, India, Peru, Poland and South Africa.

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

15 of 16

Five-Year Historical Key Statistics

PRIMERICA, INC.

Financial Supplement

(Dollars in millions)			2013			2014			2015			2016			2017			Q1 2017			Q2 2017			Q3 2017			Q4 2017			Q1 2018			Q2 2018


Recruits				186,251			190,439			228,115			262,732			303,867			70,983			78,273			90,210			64,401			76,230			76,520


Life-insurance licensed sales force, beginning of period				92,373			95,566			98,358			106,710			116,827			116,827			117,907			121,471			124,436			126,121			127,182
	New life-licensed representatives			34,155			33,832			39,632			44,724			48,535			10,903			12,947			12,783			11,902			11,730			13,544
	Non-renewal and terminated representatives			(30,962	)		(31,040	)		(31,280	)		(34,607	)		(39,241	)		(9,823	)		(9,383	)		(9,818	)		(10,217	)		(10,669	)		(10,570	)
Life-insurance licensed sales force, end of period				95,566			98,358			106,710			116,827			126,121			117,907			121,471			124,436			126,121			127,182			130,156


Issued term life policies				214,617			220,984			260,059			298,244			312,799			70,642			84,033			78,056			80,068			70,821			83,754


Issued term life face amount			$	67,783		$	69,574		$	79,111		$	89,869		$	95,635		$	21,628		$	25,458		$	24,035		$	24,515		$	22,258		$	26,001


Term life face amount in force, beginning of period			$	670,412		$	674,868		$	681,927		$	693,194		$	728,385		$	728,385		$	733,756		$	746,427		$	757,411		$	763,831		$	765,732
	Issued term life face amount			67,783			69,574			79,111			89,869			95,635			21,628			25,458			24,035			24,515			22,258			26,001
	Terminated term life face amount			(57,730	)		(54,962	)		(53,580	)		(57,238	)		(65,958	)		(16,704	)		(14,994	)		(16,331	)		(17,929	)		(17,788	)		(16,341	)
	Foreign currency impact, net			(5,596	)		(7,553	)		(14,263	)		2,560			5,769			447			2,207			3,280			(165	)		(2,570	)		(1,788	)
Term life face amount in force, end of period			$	674,868		$	681,927		$	693,194		$	728,385		$	763,831		$	733,756		$	746,427		$	757,411		$	763,831		$	765,732		$	773,604


Estimated annualized issued term life premium
	Premium from new policies		$	173.5		$	179.8		$	212.4		$	245.2		$	263.1		$	59.4		$	70.2		$	65.8		$	67.6		$	60.4		$	71.1
	Additions and increases in premium			48.6			51.6			54.9			60.4			65.5			15.1			16.5			16.4			17.5			16.9			18.7
		Total estimated annualized issued term life premium	$	222.1		$	231.4		$	267.3		$	305.7		$	328.6		$	74.5		$	86.7		$	82.2		$	85.1		$	77.3		$	89.8


Investment & Savings product sales			$	5,208.8		$	5,682.3		$	5,856.8		$	5,594.3		$	6,192.2		$	1,585.3		$	1,572.8		$	1,431.2		$	1,602.9		$	1,783.0		$	1,758.9

Investment & Savings average client asset values			$	41,035		$	46,936		$	48,477		$	49,427		$	56,791		$	53,823		$	55,778		$	57,656		$	59,906		$	61,704		$	61,297

16 of 16

Primerica, Inc. - FORM 8-K - EX-99.2 - August 7, 2018

Attached files

Primerica, Inc. Reports