EX-99.2

Exhibit 99.2

Supplemental Financial Information

Second Quarter 2024

    Table of Contents

    PRIMERICA, INC.
Financial Supplement


	Page
Preface, definition of non-GAAP financial measures	3
Condensed balance sheets and reconciliation of balance sheet non-GAAP to GAAP financial measures	4
Financial results and other statistical data	5
Statements of income	6
Reconciliation of statement of income GAAP to non-GAAP financial measures	7-8
Segment operating results
Term Life Insurance segment - financial results, financial analysis, and key statistics	9-10
Investment and Savings Products segment - financial results, financial analysis, and key statistics	11-12
Senior Health segment - financial results, financial analysis, and key statistics	13
Corporate & Other Distributed Products segment - financial results	14
Investment portfolio	15-17
Five-year historical key statistics	18

This document may contain forward-looking statements and information. Additional information and factors that could cause actual results to differ materially from any forward-looking statements or information in this document is available in our Form 10-K for the year ended December 31, 2023.

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    Preface

    PRIMERICA, INC.
Financial Supplement

Second Quarter 2024

This document is a financial supplement to our first quarter 2024 earnings release. It is designed to enable comprehensive analysis of our ongoing business using the same core metrics that our management utilizes in assessing our business and making strategic and operational decisions. Throughout this document we provide financial information that is derived from our U.S. GAAP financial statements and adjusted for three different purposes, as follows:

• Operating adjustments exclude the impact of investment gains/losses, including credit impairments and mark-to-market (MTM) investment adjustments. We exclude investment gains/losses, including credit impairments, and MTM investment adjustments in measuring adjusted operating revenues to eliminate period-over-period fluctuations that may obscure comparisons of operating results due to items such as the timing of recognizing gains and losses and other factors prior to an invested asset's maturity or sale that are not directly associated with the Company's insurance operations. Operating adjustments also exclude the gain recognized for insurance proceeds from a Representation and Warranty insurance policy negotiated and purchased in connection with the acquisition of e-TeleQuote. We exclude this as it represents a non-recurring item that causes incomparability in the Company’s results. Operating adjustments also exclude non-cash goodwill and intangible asset impairment charges as non-recurring items that cause incomparability between period-over-period results. Operating adjustments also exclude restructuring and related charges incurred with the exit of our senior health business. We exclude these charges as they are not useful in evaluating the Company’s ongoing operations. Adjusted net operating income and diluted adjusted operating earnings per share also exclude the tax effect of pre-tax operating adjustments, the deferred tax benefit recognized in association with the impairment of intangible assets and the valuation allowance recognized for state net operating losses (NOLs) in the Company’s Senior Health segment. We exclude these items from our non-GAAP financial measures as they represent the tax effect of pre-tax operating adjustments and/or non-recurring items that will cause incomparability between period-over-period results.

• Adjusted stockholders’ equity refers to the removal of the impact of net unrealized gains and losses on invested assets. We exclude unrealized investment gains and losses in measuring adjusted stockholders' equity as unrealized gains and losses from the Company's invested assets are largely caused by market movements in interest rates and credit spreads that do not necessarily correlate with the cash flows we will ultimately realize when an invested asset matures or is sold. Adjusted stockholders' equity also excludes the difference in future policy benefits calculated using the current discount rate and future policy benefits calculated using the locked-in discount rate at contract issuance recognized in accumulated other comprehensive income. We exclude the impact from the difference in the discount rate in measuring adjusted stockholders' equity as it is caused by market movements in interest rates that are not permanent and may not align with the cash flow we will ultimately incur when policy benefits are settled.

• IPO coinsurance transactions adjustments relate to transactions in the first quarter of 2010, where we coinsured between 80% and 90% of our business that was in-force at year-end 2009 to entities then affiliated with Citigroup Inc. that were executed concurrent with our initial public offering (IPO). We exclude amounts ceded under the IPO coinsurance transactions in measuring adjusted direct premiums and other ceded premiums to present meaningful comparisons of the actual premiums economically maintained by the Company. Amounts ceded under the IPO coinsurance transactions will continue to decline over time as policies terminate within this block of business.

Management utilizes these non-GAAP financial measures in managing the business and believes they present relevant and meaningful analytical metrics for evaluating the ongoing business. Reconciliations of non-GAAP to GAAP financial measures are included in this financial supplement.

Certain items throughout this supplement may not add due to rounding and as such, may not agree to other public reporting of the respective item. Certain items throughout this supplement are noted as ‘na’ to indicate not applicable. Certain variances are noted as ‘nm’ to indicate not meaningful. Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. These reclassifications had no impact on net income or total stockholders’ equity.

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    Balance Sheets and Reconciliation of Balance Sheet Non-GAAP to GAAP Financial Measures

    PRIMERICA, INC.
Financial Supplement


(Dollars in thousands)				Mar 31, 2023			Jun 30, 2023			Sep 30, 2023			Dec 31, 2023			Mar 31, 2024			Jun 30, 2024			Sep 30, 2024	Dec 31, 2024
Balance Sheets
Assets:
	Investments and cash excluding securities held to maturity			$	3,246,388		$	3,226,056		$	3,174,938		$	3,432,129		$	3,456,543		$	3,502,298
	Securities held to maturity				1,460,000			1,433,520			1,417,460			1,386,980			1,376,400			1,353,370
			Total investments and cash		4,706,388			4,659,576			4,592,398			4,819,109			4,832,943			4,855,668
	Reinsurance recoverables				3,217,354			3,084,520			2,954,245			3,015,777			2,920,417			2,833,055
	Deferred policy acquisition costs				3,250,753			3,319,844			3,374,627			3,447,234			3,503,940			3,566,126
	Goodwill				127,707			127,707			127,707			127,707			127,707			—
	Other assets				1,191,286			1,201,266			1,200,647			1,222,064			1,189,436			1,056,890
	Separate account assets				2,329,968			2,358,823			2,183,435			2,395,842			2,334,911			2,253,966
			Total assets	$	14,823,457		$	14,751,736		$	14,433,059		$	15,027,732		$	14,909,354		$	14,565,704

Liabilities:
	Future policy benefits			$	6,561,624		$	6,491,564		$	6,045,151		$	6,742,025		$	6,548,050		$	6,436,332
	Other policy liabilities				996,747			970,198			938,665			963,773			954,350			908,419
	Income taxes				201,850			169,487			227,866			135,248			197,714			135,050
	Other liabilities				659,734			642,149			636,927			644,792			641,836			672,058
	Debt obligations				593,106			593,307			593,508			593,709			593,909			594,110
	Surplus note				1,459,565			1,433,101			1,417,056			1,386,592			1,376,028			1,353,014
	Payable under securities lending				74,452			77,643			77,956			99,785			76,648			90,995
	Separate account liabilities				2,329,968			2,358,823			2,183,435			2,395,842			2,334,911			2,253,966
			Total liabilities		12,877,046			12,736,272			12,120,564			12,961,765			12,723,446			12,443,945

Stockholders’ equity:
	Common stock ($0.01 par value) (1)				364			358			353			350			346			340
	Paid-in capital				—			—			—			—			—			—
	Retained earnings				2,177,428			2,190,223			2,215,378			2,276,947			2,285,937			2,122,832
	Treasury stock				—			—			—			—			—			—
	Accumulated other comprehensive income (loss), net:
		Net unrealized gains (losses)			(208,157	)		(226,250	)		(269,604	)		(170,008	)		(181,537	)		(187,346	)
		Effect of change in discount rate assumptions on the liability for future policy benefits			(11,966	)		55,386			377,637			(39,086	)		92,853			201,441
		Cumulative translation adjustment			(11,259	)		(4,253	)		(11,269	)		(2,235	)		(11,691	)		(15,507	)
			Total stockholders’ equity		1,946,411			2,015,464			2,312,495			2,065,967			2,185,908			2,121,759
			Total liabilities and stockholders' equity	$	14,823,457		$	14,751,736		$	14,433,059		$	15,027,732		$	14,909,354		$	14,565,704

Reconciliation of Total Stockholders' Equity to Adjusted Stockholders' Equity
Total stockholders' equity				$	1,946,411		$	2,015,464		$	2,312,495		$	2,065,967		$	2,185,908		$	2,121,759
	Less: Net unrealized gains (losses)				(208,157	)		(226,250	)		(269,604	)		(170,008	)		(181,537	)		(187,346	)
	Less: Effect of change in discount rate assumptions on the liability for future policy benefits				(11,966	)		55,386			377,637			(39,086	)		92,853			201,441
			Adjusted stockholders’ equity	$	2,166,533		$	2,186,328		$	2,204,462		$	2,275,062		$	2,274,592		$	2,107,665

Adjusted Stockholders' Equity Rollforward
Balance, beginning of period				$	2,141,707		$	2,166,533		$	2,186,328		$	2,204,462		$	2,275,062		$	2,274,592
	Net Income				128,099			144,504			152,063			151,935			137,904			1,171
	Shareholder dividends				(23,910	)		(23,598	)		(23,336	)		(22,870	)		(26,256	)		(25,835	)
	Retirement of shares and warrants				(96,323	)		(112,606	)		(106,479	)		(72,886	)		(116,570	)		(142,744	)
	Net foreign currency translation adjustment				1,020			7,005			(7,016	)		9,035			(9,456	)		(3,817	)
	Other, net				15,941			4,490			2,902			5,386			13,909			4,297
Balance, end of period				$	2,166,533		$	2,186,328		$	2,204,462		$	2,275,062		$	2,274,592		$	2,107,665

Deferred Policy Acquisition Costs Rollforward
Balance, beginning of period				$	3,188,502		$	3,250,753		$	3,319,844		$	3,374,627		$	3,447,234		$	3,503,940
	General expenses deferred				10,777			10,692			10,764			9,910			11,156			11,235
	Commission costs deferred				118,386			119,676			119,976			125,335			125,811			127,800
	Amortization of deferred policy acquisition costs				(67,923	)		(68,110	)		(69,405	)		(70,378	)		(72,049	)		(73,643	)
	Foreign currency impact and other, net				1,011			6,833			(6,551	)		7,739			(8,211	)		(3,207	)
Balance, end of period				$	3,250,753		$	3,319,844		$	3,374,627		$	3,447,234		$	3,503,940		$	3,566,126

(1)

Outstanding common shares exclude restricted stock units.

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    Financial Results and Other Statistical Data

    PRIMERICA, INC.
Financial Supplement


																							YOY Q2												YOY YTD
(Dollars in thousands, except per-share data)			Q1 2023			Q2 2023			Q3 2023			Q4 2023			Q1 2024			Q2 2024			Q3 2024	Q4 2024	$ Change			% Change			YTD 2023			YTD 2024			$ Change			% Change
Earnings per Share
Basic earnings per share:
	Weighted-average common shares and fully vested equity awards			36,709,525			36,215,232			35,760,090			35,148,919			34,882,824			34,383,344					(1,831,888	)		-5.1	%		36,461,013			34,633,084			(1,827,929	)		-5.0	%

	Net income		$	128,099		$	144,504		$	152,063		$	151,935		$	137,904		$	1,171				$	(143,334	)		-99.2	%	$	272,603		$	139,074		$	(133,529	)		-49.0	%
	Less income attributable to unvested participating securities			(579	)		(609	)		(643	)		(648	)		(572	)		(96	)				513			84.2	%		(1,190	)		(547	)		643			54.1	%
		Net income used in computing basic EPS	$	127,520		$	143,896		$	151,420		$	151,287		$	137,331		$	1,075				$	(142,821	)		-99.3	%	$	271,413		$	138,528		$	(132,885	)		-49.0	%
		Basic earnings per share	$	3.47		$	3.97		$	4.23		$	4.30		$	3.94		$	0.03				$	(3.94	)		-99.2	%	$	7.44		$	4.00		$	(3.44	)		-46.2	%

	Adjusted net operating income		$	131,883		$	145,407		$	153,804		$	150,354		$	137,005		$	162,746				$	17,339			11.9	%	$	277,290		$	299,751		$	22,460			8.1	%
	Less operating income attributable to unvested participating securities			(596	)		(612	)		(650	)		(642	)		(569	)		(604	)				9			1.5	%		(1,210	)		(1,178	)		32			2.6	%
		Adjusted net operating income used in computing basic operating EPS	$	131,288		$	144,794		$	153,154		$	149,713		$	136,436		$	162,142				$	17,348			12.0	%	$	276,080		$	298,572		$	22,492			8.1	%
		Basic adjusted operating income per share	$	3.58		$	4.00		$	4.28		$	4.26		$	3.91		$	4.72				$	0.72			18.0	%	$	7.57		$	8.62		$	1.05			13.9	%

Diluted earnings per share:
	Weighted-average common shares and fully vested equity awards			36,709,525			36,215,232			35,760,090			35,148,919			34,882,824			34,383,344					(1,831,888	)		-5.1	%		36,461,013			34,633,084			(1,827,929	)		-5.0	%
	Dilutive impact of contingently issuable shares			94,123			74,712			62,182			59,473			53,938			56,591					(18,121	)		-24.3	%		84,418			55,265			(29,153	)		-34.5	%
		Shares used to calculate diluted EPS		36,803,648			36,289,944			35,822,272			35,208,392			34,936,762			34,439,935					(1,850,009	)		-5.1	%		36,545,431			34,688,349			(1,857,082	)		-5.1	%

	Net income		$	128,099		$	144,504		$	152,063		$	151,935		$	137,904		$	1,171				$	(143,334	)		-99.2	%	$	272,603		$	139,074		$	(133,529	)		-49.0	%
	Less income attributable to unvested participating securities			(577	)		(608	)		(642	)		(647	)		(572	)		(96	)				512			84.2	%		(1,188	)		(546	)		641			54.0	%
		Net income used in computing diluted EPS	$	127,521		$	143,897		$	151,421		$	151,288		$	137,332		$	1,075				$	(142,822	)		-99.3	%	$	271,415		$	138,528		$	(132,887	)		-49.0	%
		Diluted earnings per share	$	3.46		$	3.97		$	4.23		$	4.30		$	3.93		$	0.03				$	(3.94	)		-99.2	%	$	7.43		$	3.99		$	(3.44	)		-46.3	%

	Adjusted net operating income		$	131,883		$	145,407		$	153,804		$	150,354		$	137,005		$	162,746				$	17,339			11.9	%	$	277,290		$	299,751		$	22,460			8.1	%
	Less operating income attributable to unvested participating securities			(595	)		(611	)		(649	)		(641	)		(568	)		(603	)				9			1.4	%		(1,208	)		(1,177	)		31			2.6	%
		Adjusted net operating income used in computing diluted operating EPS	$	131,289		$	144,795		$	153,155		$	149,714		$	136,437		$	162,143				$	17,348			12.0	%	$	276,082		$	298,574		$	22,492			8.1	%
		Diluted adjusted operating income per share	$	3.57		$	3.99		$	4.28		$	4.25		$	3.91		$	4.71				$	0.72			18.0	%	$	7.55		$	8.61		$	1.06			14.0	%

Annualized Return on Equity
	Average stockholders' equity		$	1,988,832		$	1,980,938		$	2,163,980		$	2,189,231		$	2,125,938		$	2,153,834				$	172,896			8.7	%	$	1,984,885		$	2,139,886		$	155,001			7.8	%
	Average adjusted stockholders' equity		$	2,154,120		$	2,176,431		$	2,195,395		$	2,239,762		$	2,274,827		$	2,191,128				$	14,698			0.7	%	$	2,165,275		$	2,232,978		$	67,702			3.1	%

	Net income return on stockholders' equity			25.8	%		29.2	%		28.1	%		27.8	%		25.9	%		0.2	%				-29.0	%	nm				27.5	%		13.0	%		-14.5	%	nm
	Net income return on adjusted stockholders' equity			23.8	%		26.6	%		27.7	%		27.1	%		24.2	%		0.2	%				-26.3	%	nm				25.2	%		12.5	%		-12.7	%	nm

	Adjusted net operating income return on adjusted stockholders' equity			24.5	%		26.7	%		28.0	%		26.9	%		24.1	%		29.7	%				3.0	%	nm				25.6	%		26.8	%		1.2	%	nm

Capital Structure
	Debt-to-capital (1)			23.4	%		22.7	%		20.4	%		22.3	%		21.4	%		21.9	%				-0.9	%	nm				22.7	%		21.9	%		-0.9	%	nm
	Debt-to-capital, excluding AOCI (1)			21.4	%		21.3	%		21.1	%		20.7	%		20.6	%		21.9	%				0.6	%	nm				21.3	%		21.9	%		0.6	%	nm

	Cash and invested assets to stockholders' equity			2.4	x		2.3	x		2.0	x		2.3	x		2.2	x		2.3	x				(0.0	x)	nm				2.3	x		2.3	x		(0.0	x)	nm
	Cash and invested assets to adjusted stockholders' equity			2.2	x		2.1	x		2.1	x		2.1	x		2.1	x		2.3	x				0.2	x	nm				2.1	x		2.3	x		0.2	x	nm

	Share count, end of period (2)			36,407,876			35,845,525			35,342,474			34,995,613			34,609,005			33,993,897					(1,851,628	)		-5.2	%		35,845,525			33,993,897			(1,851,628	)		-5.2	%
	Adjusted stockholders' equity per share		$	59.51		$	60.99		$	62.37		$	65.01		$	65.72		$	62.00				$	1.01			1.7	%	$	60.99		$	62.00		$	1.01			1.7	%

Financial Strength Ratings - Primerica Life Insurance Co
	Moody's		A1			A1			A1			A1			A1			A1					na			na			na			na			na			na
	S&P		AA-			AA-			AA-			AA-			AA-			AA-					na			na			na			na			na			na
	A.M. Best		A+			A+			A+			A+			A+			A+					na			na			na			na			na			na

Holding Company Senior Debt Ratings
	Moody's		Baa1			Baa1			Baa1			Baa1			Baa1			Baa1					na			na			na			na			na			na
	S&P		A-			A-			A-			A-			A-			A-					na			na			na			na			na			na
	A.M. Best		a-			a-			a-			a-			a-			a-					na			na			na			na			na			na

(1)

Debt-to-capital is that of the parent company only. Capital in the debt-to-capital ratio includes stockholders' equity and the note payable.

(2)

Share count reflects outstanding common shares, which excludes restricted stock units (RSUs).

5 of 18

    Statements of Income

    PRIMERICA, INC.
Financial Supplement


																							YOY Q2												YOY YTD
(Dollars in thousands)			Q1 2023			Q2 2023			Q3 2023			Q4 2023			Q1 2024			Q2 2024			Q3 2024	Q4 2024	$ Change			% Change			YTD 2023			YTD 2024			$ Change			% Change
Statements of Income
Revenues:
	Direct premiums		$	817,872		$	828,296		$	831,681		$	834,275		$	841,046		$	845,358				$	17,062			2.1	%	$	1,646,169		$	1,686,404		$	40,236			2.4	%
	Ceded premiums			(405,347	)		(425,266	)		(411,015	)		(410,182	)		(409,764	)		(427,561	)				(2,295	)		-0.5	%		(830,613	)		(837,325	)		(6,712	)		-0.8	%
		Net premiums		412,525			403,030			420,666			424,093			431,283			417,797					14,767			3.7	%		815,555			849,079			33,524			4.1	%
	Net investment income			31,065			32,398			34,730			37,644			37,806			38,452					6,054			18.7	%		63,462			76,258			12,796			20.2	%
	Commissions and fees:
		Sales-based (1)		72,388			74,958			72,996			76,274			88,746			101,178					26,220			35.0	%		147,346			189,924			42,577			28.9	%
		Asset-based (2)		111,904			113,335			119,413			118,303			128,532			132,765					19,430			17.1	%		225,239			261,297			36,058			16.0	%
		Account-based (3)		22,790			23,095			23,344			23,960			23,180