TORONTO--(BUSINESS WIRE)--Primerica, Inc. (NYSE:PRI) will launch our 30th year serving middle income families in Canada with six events occurring simultaneously from coast to coast on Saturday, January 9, 2016. Primerica CEO Glenn Williams will speak before a live audience in Toronto, and he will participate via video in meetings being held simultaneously in Calgary, Halifax, Montreal, Vancouver, and Winnipeg. Approximately 10,000 people are expected to attend these six events.
“2015 proved to be another record-shattering year for Primerica Canada,” said Williams. “Life insurance face amount in force exceeded $100 billion, and client asset values surpassed $10.5 billion, both as of December 31, 2015. Most importantly, we paid more than $102 million in claims to our Canadian policy beneficiaries during 2015. These families experienced a tragic loss of life and we were able to prevent further emotional devastation by helping them meet their financial needs.”
At year’s end, Primerica Canada’s life-licensed sales force exceeded 10,000 representatives, solidifying its position as Canada’s largest life insurance sales force. The company also has the country’s largest independent mutual fund sales force. Because of the outstanding service these representatives provided to Canadian families, our sales force compensation during 2015 was a record $124 million, up 15% year-over-year.
Primerica Canada has achieved many significant milestones since our founding three decades ago, including (numbers as of December 31, 2015):
- More than $1 billion in Term Life Insurance claims paid to policy beneficiaries
- More than 400,000 lives insured across the Provinces and Territories
- More than $1 billion in compensation paid to its sales representatives.
However, the need for the products and services that we provide has never been greater. Research indicates as many as 85% of Canadian households are underinsured, with a disproportionate percentage of those households falling among middle-income families, which is the primary market we serve. Given this fact, we are launching new initiatives to reach even more underserved Canadians throughout the Provinces and Territories.
“Our sales force of more than 10,000 men and women is the most important factor of our success, and I am honoured to recognize their outstanding performance in 2015 during our upcoming meetings. But equally important, we will focus on new initiatives to help us grow our strong momentum and meet the needs of thousands of additional Canadian families,” said Williams. “I was privileged to have helped launch Primerica Canada in 1986 and spent almost 15 years of my career here. Thanks to the tireless efforts of our representatives and dedicated Head Office team, the company has become a true industry leader in the Canadian financial services industry. I am proud of our leaders here and look forward to all that we’ll accomplish together in 2016.”
About Primerica, Inc.
Primerica, Inc., headquartered in Duluth, GA, is a leading distributor of financial products to middle income households in North America. Primerica representatives educate their Main Street 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. In addition, Primerica provides an entrepreneurial full or part-time business opportunity for individuals seeking to earn income by distributing the company’s financial products. We insured more than 4 million lives and have over 2 million client investment accounts at December 31, 2015. Primerica stock is included in the S&P MidCap 400 and the Russell 2000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.
