PRI · 10-K filed 27 Feb 2026 · year to 31 Dec 2025

Primerica

36 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Pershing LLC

depends on

Pershing LLC (“Pershing”), an unaffiliated clearing firm, provides custody, trade execution, clearing, settlement and related services through a fully disclosed clearing agreement with PBSI.Business (Item 1)

BNY Mellon Asset Servicing

depends on

PSS has retained BNY Mellon Asset Servicing to perform the necessary transfer agent recordkeeping services for these accounts on its proprietary SuRPAS system.Business (Item 1)

Partners and platforms

Reinsurers (mortality risk reinsurance)

depends on · 90% of our mortality risk on new businessnamed as a risk

We reinsure 90% of our mortality risk on new business.Risk factors (Item 1A)

Also named by CB, CI, CINF, LNC, ORI, RLI, WRB

Franklin Templeton

earns from · approximately 99% of our mutual fund sales in the United Statesnamed as a risk

During 2025, Franklin Templeton, Invesco, American Funds and Fidelity collectively accounted for approximately 99% of our mutual fund sales in the United States.Business (Item 1)

Invesco

earns from · approximately 99% of our mutual fund sales in the United Statesnamed as a risk

During 2025, Franklin Templeton, Invesco, American Funds and Fidelity collectively accounted for approximately 99% of our mutual fund sales in the United States.Business (Item 1)

American Funds

earns from · approximately 99% of our mutual fund sales in the United Statesnamed as a risk

During 2025, Franklin Templeton, Invesco, American Funds and Fidelity collectively accounted for approximately 99% of our mutual fund sales in the United States.Business (Item 1)

Fidelity Investments

earns from · approximately 99% of our mutual fund sales in the United Statesnamed as a risk

During 2025, Franklin Templeton, Invesco, American Funds and Fidelity collectively accounted for approximately 99% of our mutual fund sales in the United States.Business (Item 1)

Hannover Re

depends onnamed as a risk

The Company assumes credit risk associated with a credit enhancement feature provided by Hannover Re, which bears the obligation to absorb the LLC’s losses in the event of a Surplus Note default in exchange for a fee.Market risk (Item 7A)

Also named by WRB

Rocket Mortgage, LLC

depends onnamed as a risk

A significant change to or disruption in the lenders’ businesses or their inability to satisfy their contractual obligations to Primerica Mortgage could have an adverse impact on our business, financial condition and results of operations.Risk factors (Item 1A)

Spring EQ LLC

depends onnamed as a risk

Primerica Mortgage also offers, through its mortgage loan originators, second mortgages and home equity lines of credit based on a contractual agreement with Spring EQ, LLC.Risk factors (Item 1A)

The Canada Life Assurance Company

earns from

In response to Canadian regulatory changes, we signed an agreement with The Canada Life Assurance Company (“Canada Life”), a third-party insurance company, to distribute segregated fund contracts underwritten by Canada Life.Business (Item 1)

Also named by FNF

Corebridge Financial, Inc.

earns from

We offer fixed indexed annuity products in the U.S. through Corebridge, Lincoln National, Trans-Oceanic Life Insurance Company (Puerto Rico) (“Trans-Oceanic Life”), and Universal Life Insurance Company (Puerto Rico) (“Universal Life”).Business (Item 1)

Also named by AIG

AGF Investments

earns from

The PD Funds are: (i) the AGF Platform Funds, which consist of a range of mutual funds managed by AGF Investments Inc. (“AGF”); and (ii) the Mackenzie FuturePath Funds, which consist of a range of mutual funds managed by Mackenzie Financial Corporation.Business (Item 1)

Mackenzie Investments

earns from

Pre-Paid Legal Services, Inc.

earns from

We offer our U.S. and Canadian clients a Primerica-branded prepaid legal services program on a subscription basis that is underwritten and provided by Pre-Paid Legal Services, Inc.Business (Item 1)

Other companies

A.M. Best

named as a risk

Each of our non-captive life insurance subsidiaries has been assigned a financial strength rating by A.M. Best.Risk factors (Item 1A)

Also named by CINF, CNA, KNSL, PGR, UHAL/B, WRB, WTM

Places

Canada

earns from · 13% of our revenuesnamed as a risk

For the year ended December 31, 2025, 13% of our revenues, excluding realized investment gains, and 14% of income from continuing operations before income taxes were generated by our Canadian operations.Market risk (Item 7A)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

Duluth, Georgia

concentrated innamed as a risk

Our Canadian and U.S. operations utilize a data center located in our main campus in Duluth, Georgia.Risk factors (Item 1A)

Commodities and inputs

Canadian dollar

exposed to its price · $13.6 millionnamed as a risk

We estimated that such a decrease would decrease our income from continuing operations before income taxes by $13.6 million for the year ended December 31, 2025.Market risk (Item 7A)

Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more

U.S. mortgage interest rates

exposed to its pricenamed as a risk

Elevated mortgage interest rates lowered the demand for refinance mortgages and purchase-money mortgages offered by Primerica Mortgage.Risk factors (Item 1A)

Also named by LEN

Regulators

Consumer Financial Protection Bureau

subject tonamed as a risk

Primerica Mortgage is regulated in the U.S. at the state and local level by state banking commissioners and other equivalent regulators and at the federal level principally by the Consumer Financial Protection Bureau.Business (Item 1)

Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more

Financial Industry Regulatory Authority (FINRA)

subject tonamed as a risk

Such changes place an increased burden on independent sales representatives to maintain their securities licenses, which could negatively impact the size of the active securities sales force in the event that representatives do not complete the applicable CE requirements on a timely basis.Risk factors (Item 1A)

Also named by AB, ADP, AGNC, AMG, AMP, BAM, BEN, BR and 23 more

New York State Department of Financial Services

subject tonamed as a risk

The New York Department of Financial Services’ “best interest” rules apply to both life insurance and annuities.Risk factors (Item 1A)

Also named by AFL, AIG, AMP, BPOP, COIN, EFX, FNF, GS and 9 more

Office of the Superintendent of Financial Institutions (OSFI)

subject tonamed as a risk

If OSFI determines Primerica Life Canada is not receiving adequate support from the Parent Company under applicable Canadian law, Primerica Life Canada may be subject to increased capital requirements or other requirements deemed appropriate by OSFI.Risk factors (Item 1A)

Also named by COF, SHOP

Canadian Investment Regulatory Organization (CIRO)

subject tonamed as a risk

These regulators have broad administrative powers and may impose sanctions that could materially adversely affect our business, financial condition and results of operations.Risk factors (Item 1A)

Also named by RJF, SF

Internal Revenue Service (IRS) non-bank custodian status

subject tonamed as a risk

Revocation of PFS Investments’ non-bank custodian status would affect its ability to earn revenue for providing such services and, consequently, could materially adversely affect our business, financial condition and results of operations.Risk factors (Item 1A)

Tennessee Department of Commerce and Insurance

subject to

Primerica Life, as a Tennessee-domiciled insurer, is regulated by the Tennessee Department of Commerce and Insurance and is licensed to transact business in the United States (except New York), and most U.S. territories.Business (Item 1)

Laws and programs

Regulation Best Interest (Reg BI)

subject tonamed as a risk

Reg BI and DOL regulations impose higher standards of care and enhanced obligations that increase regulatory and litigation risk to our business.Risk factors (Item 1A)

Also named by ALL, ARES, LPLA, MS, RJF

Independent contractor classification (IRS, DOL, Canada Revenue Agency)

subject tonamed as a risk

Changes to worker classifications could have a material adverse impact on our business, financial condition and results of operations because sales representatives are independent contractors.Risk factors (Item 1A)

Also named by RXO

NAIC risk-based capital standards

subject tonamed as a risk

The failure of any of our insurance subsidiaries to meet its applicable RBC and LICAT requirements or minimum capital and surplus requirements could subject it to further examination or corrective action imposed by insurance regulators, including limitations on its ability to write additional business, supervision by regulators or seizure or liquidation.Risk factors (Item 1A)

Also named by UNM

California SB 253

subject tonamed as a risk

Compliance with SB 253, SB 219, Guideline B-15 and any other climate disclosure rules applicable to the Company may require significant assistance from third-party vendor(s).Risk factors (Item 1A)

Also named by IP

Canadian Securities Administrators National Instrument 81-105 Principal Distributor provisions

subject tonamed as a risk

If this proposal is adopted and we are not granted an exemption, then we could be required to restructure our Principal Distributor model for the sale of mutual funds, or discontinue use, which could have a material adverse effect on our investment advisory business in Canada.Risk factors (Item 1A)

Canadian Council of Insurance Regulators deferred sales charge ban on segregated funds

subject tonamed as a risk

As we anticipated, we experienced a decline in segregated funds product sales beginning in June 2023.Risk factors (Item 1A)

Federal Trade Commission Act

subject tonamed as a risk

Additionally, if an earnings claims rule like that proposed by the FTC were to become final, it could have an adverse impact on our recruitment and sales.Risk factors (Item 1A)

FTC Business Opportunity Rule

subject tonamed as a risk

Nonetheless, the rule ultimately could be amended or interpreted in a manner inconsistent with our current interpretation.Risk factors (Item 1A)

OSFI Guideline B-15

subject tonamed as a risk

Compliance with SB 253, SB 219, Guideline B-15 and any other climate disclosure rules applicable to the Company may require significant assistance from third-party vendor(s).Risk factors (Item 1A)