Primerica, Inc. (NYSE:PRI) Q4 2018 Earnings Conference Call Transcript

Feb 08, 2019 • 10:00 am ET


Primerica, Inc. (NYSE:PRI) Q4 2018 Earnings Conference Call Transcript


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Good morning, my name is Chris and I will be your conference operator today. At this time I would like to welcome everyone to the Primerica Inc Q4 2018 Financial Results Webcast. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.

(Operator Instructions) Thank you.

Nicole Russell, Senior Vice President, Investor Relations, you may begin your conference.

Nicole Russell

Thank you, Chris and good morning everyone. Welcome to Primerica's Fourth Quarter Earnings Call. A copy of the press release along with materials relevant to today's call are posted on our Investor Relations section of our website at Joining our call today are Chief Executive Officer, Glenn Williams and our Chief Financial Officer, Alison Rand. Glenn and Alison will deliver prepared remarks and then we'll open the call for questions.

During our call, some of our comments may contain forward-looking statements in accordance with the Safe Harbor Provisions of the Securities Litigation Reform Act. The company does not assume any duty to update or revise these statements to reflect new information. We reference you to our most recent Form 10-K filing as modified by subsequent form 10-Q filings for a list of risks and uncertainties that could cause actual results to materially differ from those expressed or implied. We also reference certain non-GAAP measures, which we believe will provide additional insight into the Company's operations.

Schedules reconciling non-GAAP measures to their respective GAAP numbers are included in on our earnings press release and available on our Investor Relations website.

I would now like to turn the call over to Glenn.

Glenn Williams

Thanks. Before we get started with today's prepared remarks, I'd like to formally introduce Nicole Russell, who joined the Primerica team in December and will be responsible for leading all aspects of our Investor Relations program. Nicole has been in our entire professional career in the financial services industry and brings 20 years of experience in the field of Investor Relations.

I'd also like to recognize and thank Kathryn Kieser for leading our Investor Relations program since our IPO. Kathryn has done an exceptional job and we know she will continue to be successful as she assumes other responsibilities here at Primerica. Today I'll share performance highlights and accomplishments that position Primerica for continued growth, then Alison will review our financial results.

In Primerica, we constantly strive to create long-term value for all our stakeholders by executing our strategy and effectively using our capital. Our strategy remains unchanged. First, maximizing sales force growth and productivity. Second broadening and strengthening protection product offerings. Next, expanding client investment options, and finally developing digital capabilities to deepen client relationships.

Our market middle-income families across North America continues to grow and along with the need for protection and saving solutions. The size of our sales force and our unique educational approach are key strengths in differentiating factors compared to our competitors.

On Slide 3, you can see that we achieved several important milestones in