NEW YORK, March 26 (Reuters) - Citigroup Inc C.N is set to sell off a stake worth about $234 million in Primerica Inc, which sells life insurance and financial advice, and while the deal is far from perfect, some analysts think the offering could sell well. Few other financial services companies cater to Primerica’s niche-- lower-middle-class and middle-class families. And the offering’s valuation is relatively low compared to other life insurance companies. Private equity firm Warburg Pincus will buy up to a third of the company, which is a vote of confidence in the business, analysts said. “Warburg Pincus has put this thing together and they expect to make money. If people buy at the IPO...
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Against a backdrop of rising interest rates, higher inflation and stock-market uncertainty, divisions of USAA, Fidelity and Vanguard emerged at the top of the list of companies boasting strong trustworthiness. In partnership with sister publication Investor’s Business Daily, MarketWatch sought to identify the banks, brokers, wealth managers, insurers, fund and investing companies, and credit-card operators that ranked highest for trust among customers and clients. USAA emerged with the highest trust rating overall, 85.3, for its automobile-insurance unit, and its home-insurance division came in seventh (check out the complete list below). USAA sells insurance to current and former U.S....
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5 Facts About Primerica Life Insurance Company Primerica Life Insurance Company, known as Primerica, is an interesting company because of its relatively recent founding and strong growth. Primerica strongly markets life insurance as a peace of mind purchase, and that Primerica is very reliable. Primerica provides some specific figures front and center, to help bolster this assertion. They claim: “Primerica has always been a company that champions the needs of Main Street North Americans. While many other companies have increasingly followed the wealthy market, Primerica continues to focus on ways to help Main Street families become financially independent….Since our founding in 1977,...
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Lincoln Financial Distributors (LFD), the wholesale distribution subsidiary of Lincoln Financial Group (NYSE:LNC), a leader in retirement-income solutions, and Primerica, Inc. (NYSE: PRI), the largest independent financial services marketing company in North America, announced today that they have formed a strategic alliance enabling approximately 82,000 of the company’s 92,000 licensed representatives to offer Lincoln’s Fixed Indexed Annuity product as part of its suite of retirement planning solutions. "Lincoln and Primerica share a commitment to helping Americans plan for their retirements with affordable products that offer upside potential with downside protection," said...
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About Primerica Headquartered in Duluth, Georgia, Primerica markets financial services throughout the United States and Canada. While the company traces its roots back to 1977, “Primerica, Inc.” originated with a 2010 initial public stock offering. Affiliated companies like Primerica Financial Services and Primerica Life Insurance Company have been around longer. Primerica, aka “Prime America,” distinguishes itself from its competitors in the financial services industry with its emphasis on “underserved middle-income consumers,” which Primerica defines as individuals with household incomes ranging from $30,000 to $100,000 per year. Primerica’s bread-and-butter is selling...
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Kantor & Kantor asks to file a class action against Primerica Life Insurance Company for its failure to provide insureds with the right to designate a third party to receive notice of lapse Are there ways to prevent a life insurance policy from lapsing? Sometimes the answer is yes. However, often it requires particular knowledge of the law. On August 13, 2021, Kantor & Kantor filed a motion asking the Federal District Court for the Central District of California to allow the amendment of a complaint to bring class action allegations against Primerica Life Insurance Company. The class action asserts that Primerica has a business practice of failing to provide California insureds...
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Primerica Life Insurance, or Prime America as its often called, is one of the leading providers of term life insurance for millions of consumers. Regarded for its services, financial solutions, and life insurance, Primerica’s name has become well-known. The structure of the carrier, however, is unparalleled in the manner in which it sells its products utilizing more than 100,000 independent insurance agents. Here is our updated Primerica life insurance review. Primerica utilizes a multi-level marketing approach in order to reach a more substantial customer base. Their answer to this is for their sales representatives to reach their family and friends. This way they are able to market...
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Primerica says its customers are clinging to their term life coverage more tightly than usual. Persistency is up, and “clients remain focused on the future and planning for retirement,” the Duluth, Georgia-based life insurer said in its earnings release for the second quarter, which ended June 30. But the COVID-19 pandemic continues to push the term life death claim total to a level that’s higher than normal, the company said. Primerica ( PRI ) is reporting $128 million in net income for the second quarter on $655 million in revenue, up from $102 million in net income on $525 million in revenue for the second quarter of 2020. Here are how some of the company’s distribution performance...
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Primerica marks over $900 billion of term life insurance in force ">, which provides financial services to families throughout the US and Canada, shared that it has issued $109 billion of new term life insurance coverage in 2021. In addition, 348,000 new representatives were recruited during the year, with 39,600 obtaining their life insurance licenses in 2021. It ended the year with nearly 26,300 securities licensed representatives, 2,870 of which were newly licensed. “During another year filled with uncertainty, working families across North America are prioritizing efforts to protect their incomes and build financial security. Our over 129,500 Primerica life-licensed...
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Primerica Life Insurance Review: Pros and Cons of Coverage When shopping for life insurance, you have your choice of providers. Primerica is a leader in term life insurance in the U.S., making the company one to consider as you compare your options. Knowing about the pros and cons of buying life insurance from Primerica can help you determine whether one of their policies is right for you. About Primerica In 1977, Art Williams founded A.L. Williams and Associates, Inc., with a vision of bringing a new approach to life insurance sales to middle-class families. Williams believed other insurers pushed clients into costly whole life policies to rack up commissions, placing unnecessary...
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