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Primerica’s 19% EPS Growth: Durable Momentum Or A Two-Speed Story?

Primerica, Inc. reported first quarter 2026 results reflecting stable performance in its Term Life segment alongside robust growth in its Investment and Savings Products (ISP) business, underscoring a balanced and resilient business model that serves middle-income families primarily in the U.S. and Canada. The company posted a 9% increase in adjusted operating revenues and a 13% rise in adjusted net operating income compared to the prior year, with adjusted operating EPS increasing 19% to $5.96. The ISP segment delivered notable growth with a 24% increase in earnings, contributing 40% of consolidated revenues. Sales in investment and savings products rose 22% to a record $4.3 billion, driven by diverse product categories including mutual funds, variable annuities, and managed accounts.