Exhibit 99.2

Supplemental Financial Information

Second Quarter 2017

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

Segment operating results	8
Term Life Insurance segment - financial results, key statistics, and financial analysis	9-10
Investment and Savings Products segment - financial results, financial analysis, and key statistics	11-12

Investment portfolio	13-15

Five-year historical key statistics	16

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, 2016.

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Preface

PRIMERICA, INC.

Financial Supplement

SECOND QUARTER 2017

This document is a financial supplement to our second quarter 2017 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 realized investment gains and losses. We exclude realized investment gains and losses in measuring 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 that are not directly associated with the Company's insurance operations.

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 disposed.

IPO coinsurance transactions adjustments relate to transactions in the first quarter of 2010, where we reinsured between 80% and 90% of our business that was in-force at year-end 2009 to entities then affiliated with Citigroup Inc. (“Citi”) that were executed concurrent with our 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 certain 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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Condensed Balance Sheets and Reconciliation of Balance Sheet Non-GAAP to GAAP Financial Measures

PRIMERICA, INC.

Financial Supplement

(Dollars in thousands)	Dec 31, 2015			Mar 31, 2016			Jun 30, 2016			Sep 30, 2016			Dec 31, 2016			Mar 31, 2017			Jun 30, 2017
Condensed Balance Sheets
Assets:
Investments and cash excluding securities held to maturity	$	1,965,576		$	1,968,419		$	2,027,735		$	2,047,095		$	2,087,607		$	2,110,131		$	2,139,275
Securities held to maturity		365,220			404,860			431,000			454,000			503,230			535,160			635,690
Total investments and cash		2,330,796			2,373,279			2,458,735			2,501,095			2,590,837			2,645,291			2,774,965
Due from reinsurers		4,110,628			4,160,266			4,147,284			4,161,537			4,193,562			4,219,547			4,191,754
Deferred policy acquisition costs		1,500,259			1,559,833			1,619,236			1,672,454			1,713,065			1,767,681			1,833,877
Other assets		605,200			656,871			669,723			685,779			653,525			681,156			719,765
Separate account assets		2,063,899			2,264,108			2,311,124			2,347,816			2,287,953			2,356,320			2,424,937
Total assets	$	10,610,782		$	11,014,358		$	11,206,101		$	11,368,681		$	11,438,943		$	11,669,996		$	11,945,297

Liabilities:
Future policy benefits	$	5,431,711		$	5,518,834		$	5,581,043		$	5,629,967		$	5,673,890		$	5,736,313		$	5,812,217
Other policy liabilities		604,061			607,225			597,728			605,666			631,700			642,640			645,443
Income taxes		148,125			177,457			199,985			215,454			225,006			237,719			241,314
Other liabilities		408,757			409,870			413,888			426,970			449,963			449,734			428,176
Notes payable		372,552			372,643			372,735			372,827			372,919			373,011			373,103
Surplus note		364,424			404,079			430,233			453,247			502,491			534,435			634,980
Payable under securities lending		71,482			87,383			91,901			95,843			73,646			93,326			115,875
Separate account liabilities		2,063,899			2,264,108			2,311,124			2,347,816			2,287,953			2,356,320			2,424,937
Total liabilities		9,465,010			9,841,598			9,998,636			10,147,790			10,217,568			10,423,499			10,676,044
Stockholders’ equity:
Common stock ($0.01 par value) (1)		483			473			466			460			457			455			450
Paid-in capital		180,250			137,857			102,824			66,510			52,468			28,606			(0	)
Retained earnings		952,804			989,685			1,040,860			1,090,388			1,138,851			1,182,038			1,224,375
Treasury stock		—			—			—			—			—			—			—
Accumulated other comprehensive income (loss), net:
Net unrealized investment gains (losses) not other-than-temporarily impaired		32,106			48,747			68,473			71,827			42,852			47,534			49,883
Net unrealized investment losses other-than-temporarily impaired		(71	)		(70	)		(68	)		(66	)		(62	)		(56	)		(54	)
Cumulative translation adjustment		(19,801	)		(3,933	)		(5,091	)		(8,227	)		(13,193	)		(12,082	)		(5,401	)
Total stockholders’ equity		1,145,772			1,172,759			1,207,465			1,220,891			1,221,374			1,246,497			1,269,253
Total liabilities and stockholders' equity	$	10,610,782		$	11,014,358		$	11,206,101		$	11,368,681		$	11,438,943		$	11,669,996		$	11,945,297

Reconciliation of Adjusted Stockholders' Equity to Total Stockholders' Equity
Adjusted stockholders' equity	$	1,113,736		$	1,124,082		$	1,139,060		$	1,149,131		$	1,178,584		$	1,199,018		$	1,219,424
Reconciling items:
Net unrealized investment gains (losses) not other-than-temporarily impaired		32,106			48,747			68,473			71,827			42,852			47,534			49,883
Net unrealized investment losses other-than-temporarily impaired		(71	)		(70	)		(68	)		(66	)		(62	)		(56	)		(54	)
Total reconciling items		32,036			48,678			68,405			71,760			42,791			47,479			49,829
Total stockholders’ equity	$	1,145,772		$	1,172,759		$	1,207,465		$	1,220,891		$	1,221,374		$	1,246,497		$	1,269,253

Adjusted Stockholders' Equity Rollforward
Balance, beginning of period	$	1,096,864		$	1,113,736		$	1,124,082		$	1,139,060		$	1,149,131		$	1,178,584		$	1,199,018
Net Income		47,948			45,176			59,326			58,038			56,874			52,069			63,107
Shareholder dividends		(7,893	)		(8,295	)		(8,151	)		(8,511	)		(8,410	)		(8,882	)		(8,799	)
Retirement of shares and warrants		(20,538	)		(52,988	)		(41,330	)		(41,012	)		(18,697	)		(36,353	)		(45,185	)
Net foreign currency translation adjustment		(8,116	)		15,867			(1,157	)		(3,136	)		(4,966	)		1,111			6,681
Other, net		5,471			10,585			6,290			4,692			4,653			12,489			4,602
Balance, end of period	$	1,113,736		$	1,124,082		$	1,139,060		$	1,149,131		$	1,178,584		$	1,199,018		$	1,219,424

Deferred Policy Acquisition Costs Rollforward
Balance, beginning of period	$	1,465,175		$	1,500,259		$	1,559,833		$	1,619,236		$	1,672,454		$	1,713,065		$	1,767,681
General expenses deferred		7,951			8,443			9,138			9,202			8,226			9,489			9,061
Commission costs deferred		77,810			81,174			89,783			91,783			89,647			95,923			99,341
Amortization of deferred policy acquisition costs		(44,334	)		(43,129	)		(38,720	)		(45,428	)		(53,305	)		(51,850	)		(47,861	)
Foreign currency impact and other, net		(6,343	)		13,086			(798	)		(2,339	)		(3,957	)		1,054			5,653
Balance, end of period	$	1,500,259		$	1,559,833		$	1,619,236		$	1,672,454		$	1,713,065		$	1,767,681		$	1,833,877

(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 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
Earnings per Share
Basic earnings per share:
Weighted-average common shares and fully vested equity awards		48,549,580			47,657,649			47,008,203			46,444,202			46,301,339			45,983,783			(1,673,866	)		-3.5	%		48,103,614			46,141,684			(1,961,930	)		-4.1	%

Net income	$	45,176		$	59,326		$	58,038		$	56,874		$	52,069		$	63,107		$	3,781			6.4	%	$	104,502		$	115,176		$	10,674			10.2	%
Less income attributable to unvested participating securities		(370	)		(491	)		(494	)		(482	)		(421	)		(430	)		61			12.3	%		(861	)		(859	)		2			0.2	%
Net income used in computing basic EPS	$	44,806		$	58,835		$	57,544		$	56,392		$	51,648		$	62,677		$	3,842			6.5	%	$	103,642		$	114,317		$	10,676			10.3	%
Basic earnings per share	$	0.92		$	1.23		$	1.22		$	1.21		$	1.12		$	1.36		$	0.13			10.4	%	$	2.15		$	2.48		$	0.32			15.0	%

Adjusted Net operating income	$	45,680		$	57,104		$	58,061		$	55,917		$	51,976		$	63,039		$	5,934			10.4	%	$	102,785		$	115,015		$	12,230			11.9	%
Less operating income attributable to unvested participating securities		(375	)		(472	)		(494	)		(474	)		(421	)		(430	)		43			9.0	%		(847	)		(857	)		(11	)		-1.3	%
Adjusted Net operating income used in computing basic operating EPS	$	45,306		$	56,632		$	57,567		$	55,443		$	51,556		$	62,609		$	5,977			10.6	%	$	101,938		$	114,158		$	12,219			12.0	%
Basic adjusted operating income per share	$	0.93		$	1.19		$	1.22		$	1.19		$	1.11		$	1.36		$	0.17			14.6	%	$	2.12		$	2.47		$	0.35			16.7	%

Diluted earnings per share:
Weighted-average common shares and fully vested equity awards		48,549,580			47,657,649			47,008,203			46,444,202			46,301,339			45,983,783			(1,673,866	)		-3.5	%		48,103,614			46,141,684			(1,961,930	)		-4.1	%
Dilutive impact of contingently issuable shares		24,090			49,680			42,632			51,274			72,947			86,550			36,870			74.2	%		36,885			79,748			42,863			116.2	%
Shares used to calculate diluted EPS		48,573,670			47,707,329			47,050,835			46,495,476			46,374,286			46,070,333			(1,636,996	)		-3.4	%		48,140,499			46,221,432			(1,919,067	)		-4.0	%

Net income	$	45,176		$	59,326		$	58,038		$	56,874		$	52,069		$	63,107		$	3,781			6.4	%	$	104,502		$	115,176		$	10,674			10.2	%
Less income attributable to unvested participating securities		(370	)		(490	)		(493	)		(481	)		(421	)		(430	)		61			12.4	%		(860	)		(857	)		3			0.3	%
Net income used in computing diluted EPS	$	44,806		$	58,835		$	57,544		$	56,393		$	51,648		$	62,677		$	3,842			6.5	%	$	103,642		$	114,319		$	10,677			10.3	%
Diluted earnings per share	$	0.92		$	1.23		$	1.22		$	1.21		$	1.11		$	1.36		$	0.13			10.3	%	$	2.15		$	2.47		$	0.32			14.9	%

Adjusted Net operating income	$	45,680		$	57,104		$	58,061		$	55,917		$	51,976		$	63,039		$	5,934			10.4	%	$	102,785		$	115,015		$	12,230			11.9	%
Less operating income attributable to unvested participating securities		(374	)		(472	)		(494	)		(473	)		(420	)		(429	)		43			9.1	%		(846	)		(856	)		(10	)		-1.2	%
Adjusted Net operating income used in computing diluted operating EPS	$	45,306		$	56,632		$	57,567		$	55,443		$	51,556		$	62,609		$	5,977			10.6	%	$	101,939		$	114,159		$	12,220			12.0	%
Diluted adjusted operating income per share	$	0.93		$	1.19		$	1.22		$	1.19		$	1.11		$	1.36		$	0.17			14.5	%	$	2.12		$	2.47		$	0.35			16.6	%



																			YOY Q2												YOY YTD
		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
Annualized Return on Equity
Average stockholders' equity	$	1,159,266		$	1,190,112		$	1,214,178		$	1,221,133		$	1,233,936		$	1,257,875		$	67,763			5.7	%	$	1,174,689		$	1,245,905		$	71,217			6.1	%
Average adjusted stockholders' equity	$	1,118,909		$	1,131,571		$	1,144,095		$	1,163,857		$	1,188,801		$	1,209,221		$	77,651			6.9	%	$	1,125,240		$	1,199,011		$	73,771			6.6	%

Net income return on stockholders' equity		15.6	%		19.9	%		19.1	%		18.6	%		16.9	%		20.1	%		0.1	%	nm				17.8	%		18.5	%		0.7	%	nm
Net income return on adjusted stockholders' equity		16.2	%		21.0	%		20.3	%		19.5	%		17.5	%		20.9	%		-0.1	%	nm				18.6	%		19.2	%		0.6	%	nm

Adjusted Net operating income return on adjusted stockholders' equity		16.3	%		20.2	%		20.3	%		19.2	%		17.5	%		20.9	%		0.7	%	nm				18.3	%		19.2	%		0.9	%	nm

Capital Structure
Debt-to-capital (1)		24.1	%		23.6	%		23.4	%		23.4	%		23.0	%		22.7	%		-0.9	%	nm				23.6	%		22.7	%		-0.9	%	nm

Cash and invested assets to stockholders' equity		2.0	x		2.0	x		2.0	x		2.1	x		2.1	x		2.2	x		0.2	x	nm				2.0	x		2.2	x		0.2	x	nm
Cash and invested assets to adjusted stockholders' equity		2.1	x		2.2	x		2.2	x		2.2	x		2.2	x		2.3	x		0.1	x	nm				2.2	x		2.3	x		0.1	x	nm

Share count, end of period (2)		47,295,175			46,601,587			45,961,671			45,720,822			45,549,739			45,034,788			(1,566,799	)		-3.4	%		46,601,587			45,034,788			(1,566,799	)		-3.4	%
Adjusted stockholders' equity per share	$	23.77		$	24.44		$	25.00		$	25.78		$	26.32		$	27.08		$	2.63			10.8	%	$	24.44		$	27.08		$	2.63			10.8	%

Financial Strength Ratings - Primerica Life Insurance Co
Moody's		A2			A2			A2			A2			A2			A2		nm			nm			nm			nm			nm			nm
S&P	AA		-	AA		-	AA		-	AA		-	AA		-	AA		-	nm			nm			nm			nm			nm			nm
A.M. Best		A	+		A	+		A	+		A	+		A	+		A	+	nm			nm			nm			nm			nm			nm

Holding Company Senior Debt Ratings
Moody's	Baa2			Baa2			Baa2			Baa2			Baa2			Baa2			nm			nm			nm			nm			nm			nm
S&P		A	-		A	-		A	-		A	-		A	-		A	-	nm			nm			nm			nm			nm			nm
A.M. Best		a	-		a	-		a	-		a	-		a	-		a	-	nm			nm			nm			nm			nm			nm

(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, including restricted shares, but excludes restricted stock units (RSUs).

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Statements of Income

PRIMERICA, INC.

Financial Supplement

																			YOY Q2												YOY YTD
(Dollars in thousands)		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
Statement of Income
Revenues:
Direct premiums	$	597,130		$	612,189		$	616,587		$	618,362		$	627,698		$	637,426		$	25,237			4.1	%	$	1,209,319		$	1,265,124		$	55,805			4.6	%
Ceded premiums		(395,333	)		(406,683	)		(399,676	)		(398,867	)		(399,769	)		(406,043	)		641			0.2	%		(802,017	)		(805,811	)		(3,795	)		-0.5	%
Net premiums		201,797			205,506			216,911			219,495			227,929			231,384			25,878			12.6	%		407,303			459,313			52,010			12.8	%
Net investment income		21,238			20,389			19,399			17,999			19,894			19,742			(647	)		-3.2	%		41,627			39,636			(1,991	)		-4.8	%
Commissions and fees:
Sales-based (1)		56,220			59,057			55,149			56,894			60,517			60,692			1,635			2.8	%		115,276			121,209			5,933			5.1	%
Asset-based (2)		55,306			59,541			60,759			61,997			64,474			67,424			7,882			13.2	%		114,848			131,897			17,050			14.8	%
Account-based (3)		11,309			11,611			11,899			16,043			13,217			13,282			1,671			14.4	%		22,920			26,499			3,579			15.6	%
Other commissions and fees		5,987			6,692			6,476			6,747			6,060			6,919			226			3.4	%		12,679			12,979			300			2.4	%
Realized investment (losses) gains		(783	)		3,440			(35	)		1,465			134			104			(3,336	)		-97.0	%		2,657			238			(2,419	)		-91.0	%
Other, net		11,527			12,757			13,069			13,224			12,939			14,150			1,394			10.9	%		24,284			27,089			2,805			11.6	%
Total revenues		362,601			378,993			383,626			393,864			405,164			413,696			34,703			9.2	%		741,594			818,860			77,266			10.4	%
Benefits and expenses:
Benefits and claims		90,977			88,984			93,022			94,672			102,385			99,512			10,527			11.8	%		179,961			201,897			21,936			12.2	%
Amortization of DAC		43,129			38,720			45,428			53,305			51,850			47,861			9,141			23.6	%		81,849			99,710			17,862			21.8	%
Insurance commissions		4,147			4,472			4,709			4,456			4,899			5,157			685			15.3	%		8,619			10,057			1,437			16.7	%
Insurance expenses		33,130			32,906			32,837			33,476			37,621			36,920			4,014			12.2	%		66,036			74,541			8,505			12.9	%
Sales commissions:
Sales-based (1)		40,327			42,040			38,276			40,031			43,209			43,253			1,213			2.9	%		82,367			86,462			4,095			5.0	%
Asset-based (2)		23,093			24,907			25,271			26,368			27,630			28,965			4,058			16.3	%		48,000			56,595			8,595			17.9	%
Other sales commissions		3,222			3,199			3,153			2,928			2,865			3,221			23			0.7	%		6,421			6,086			(335	)		-5.2	%
Interest expense		7,173			7,178			7,184			7,157			7,127			7,144			(34	)		-0.5	%		14,350			14,271			(79	)		-0.6	%
Other operating expenses		47,190			44,708			45,309			44,408			52,736			45,274			567			1.3	%		91,897			98,011			6,113			6.7	%
Total benefits and expenses		292,388			287,113			295,189			306,799			330,322			317,308			30,194			10.5	%		579,501			647,630			68,129			11.8	%
Income before income taxes		70,213			91,880			88,438			87,065			74,841			96,389			4,509			4.9	%		162,093			171,230			9,137			5.6	%
Income taxes		25,037			32,554			30,400			30,191			22,772			33,282			728			2.2	%		57,591			56,054			(1,537	)		-2.7	%
Net income	$	45,176		$	59,326		$	58,038		$	56,874		$	52,069		$	63,107		$	3,781			6.4	%	$	104,502		$	115,176		$	10,674			10.2	%

Income Before Income Taxes by Segment
Term Life	$	46,081		$	58,017		$	58,136		$	51,127		$	49,022		$	61,855		$	3,838			6.6	%	$	104,098		$	110,877		$	6,779			6.5	%
Investment & Savings Products		31,691			36,065			35,759			40,840			37,119			39,684			3,619			10.0	%		67,755			76,803			9,048			13.4	%
Corporate & Other Distributed Products		(7,558	)		(2,202	)		(5,458	)		(4,903	)		(11,300	)		(5,149	)		(2,948	)		-133.9	%		(9,760	)		(16,450	)		(6,689	)		-68.5	%
Income before income taxes	$	70,213		$	91,880		$	88,438		$	87,065		$	74,841		$	96,389		$	4,509			4.9	%	$	162,093		$	171,230		$	9,137			5.6	%

(1)	Sales-based - revenues or commission expenses relating to the sales of mutual funds and variable annuities
(2)	Asset-based - revenues or commission expenses relating to the value of assets in client accounts for which we earn ongoing service, distribution, and other fees
(3)	Account-based - revenues relating to the fee generating client accounts we administer

6 of 16

Reconciliation of Statement of Income GAAP to Non-GAAP Financial Measures

PRIMERICA, INC.

Financial Supplement

																			YOY Q2												YOY YTD
		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
(Dollars in thousands)		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
Reconciliation from Term Life Direct Premiums to Term Life Adjusted Direct Premiums
Term Life direct premiums	$	589,244		$	604,117		$	608,396		$	611,583		$	620,379		$	630,485		$	26,368			4.4	%	$	1,193,361		$	1,250,865		$	57,503			4.8	%
Less: Premiums ceded to IPO Coinsurers		321,494			322,767			319,516			315,955			312,982			308,323			(14,445	)		-4.5	%		644,262			621,304			(22,957	)		-3.6	%
Term Life adjusted direct premiums	$	267,750		$	281,350		$	288,879		$	295,628		$	307,397		$	322,163		$	40,813			14.5	%	$	549,100		$	629,560		$	80,461			14.7	%


Reconciliation from Term Life Ceded Premiums to Term Life Other Ceded Premiums
Term Life ceded premiums	$	(393,271	)	$	(404,492	)	$	(397,214	)	$	(396,157	)	$	(398,077	)	$	(404,175	)	$	317			0.1	%	$	(797,763	)	$	(802,252	)	$	(4,489	)		-0.6	%
Less: Premiums ceded to IPO Coinsurers		(321,494	)		(322,767	)		(319,516	)		(315,955	)		(312,982	)		(308,323	)		14,445			4.5	%		(644,262	)		(621,304	)		22,957			3.6	%
Term Life other ceded premiums	$	(71,776	)	$	(81,725	)	$	(77,697	)	$	(80,202	)	$	(85,095	)	$	(95,852	)	$	(14,127	)		-17.3	%	$	(153,501	)	$	(180,948	)	$	(27,446	)		-17.9	%


Reconciliation from Total Revenues to Adjusted Operating Revenues
Total revenues	$	362,601		$	378,993		$	383,626		$	393,864		$	405,164		$	413,696		$	34,703			9.2	%	$	741,594		$	818,860		$	77,266			10.4	%
Less: Realized investment gains/(losses)		(783	)		3,440			(35	)		1,465			134			104		nm			nm				2,657			238		nm			nm
Adjusted operating revenues	$	363,384		$	375,553		$	383,661		$	392,399		$	405,030		$	413,592		$	38,039			10.1	%	$	738,937		$	818,622		$	79,685			10.8	%


Reconciliation from Income Before Income Taxes to Adjusted Operating Income Before Income Taxes
Income before income taxes	$	70,213		$	91,880		$	88,438		$	87,065		$	74,841		$	96,389		$	4,509			4.9	%	$	162,093		$	171,230		$	9,137			5.6	%
Less: Realized investment gains/(losses)		(783	)		3,440			(35	)		1,465			134			104		nm			nm				2,657			238		nm			nm
Adjusted operating income before income taxes	$	70,996		$	88,440		$	88,472		$	85,599		$	74,708		$	96,285		$	7,845			8.9	%	$	159,436		$	170,992		$	11,557			7.2	%


Reconciliation from Net Income to Adjusted Net Operating Income
Net income	$	45,176		$	59,326		$	58,038		$	56,874		$	52,069		$	63,107		$	3,781			6.4	%	$	104,502		$	115,176		$	10,674			10.2	%
Less: Realized investment gains/(losses)		(783	)		3,440			(35	)		1,465			134			104		nm			nm				2,657			238		nm			nm
Less: Tax impact of realized investment gains/(losses)		279			(1,219	)		12			(508	)		(41	)		(36	)	nm			nm				(940	)		(77	)	nm			nm
Adjusted net operating income	$	45,680		$	57,104		$	58,061		$	55,917		$	51,976		$	63,039		$	5,934			10.4	%	$	102,785		$	115,015		$	12,230			11.9	%

7 of 16

Segment Operating Results

PRIMERICA, INC.

Financial Supplement

																			YOY Q2												YOY YTD
(Dollars in thousands)		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
Term Life Insurance
Revenues:
Direct Premiums	$	589,244		$	604,117		$	608,396		$	611,583		$	620,379		$	630,485		$	26,368			4.4	%	$	1,193,361		$	1,250,865		$	57,503			4.8	%
Premiums ceded to IPO coinsurers (1)		(321,494	)		(322,767	)		(319,516	)		(315,955	)		(312,982	)		(308,323	)		14,445			4.5	%		(644,262	)		(621,304	)		22,957			3.6	%
Adjusted direct premiums (2)		267,750			281,350			288,879			295,628			307,397			322,163			40,813			14.5	%		549,100			629,560			80,461			14.7	%
Other ceded premiums (3)		(71,776	)		(81,725	)		(77,697	)		(80,202	)		(85,095	)		(95,852	)		(14,127	)		-17.3	%		(153,501	)		(180,948	)		(27,446	)		-17.9	%
Net premiums		195,973			199,625			211,182			215,426			222,302			226,311			26,686			13.4	%		395,598			448,613			53,014			13.4	%
Allocated net investment income		1,850			1,871			1,903			2,010			2,303			2,347			475			25.4	%		3,721			4,650			929			25.0	%
Other, net		8,274			9,062			9,513			9,692			9,446			10,244			1,182			13.0	%		17,336			19,690			2,354			13.6	%
Revenues		206,097			210,559			222,598			227,128			234,051			238,902			28,343			13.5	%		416,655			472,953			56,297			13.5	%
Benefits and expenses:
Benefits and claims		86,795			83,835			88,800			91,209			97,771			95,532			11,697			14.0	%		170,630			193,302			22,672			13.3	%
Amortization of DAC		41,224			36,477			43,365			51,744			50,133			44,937			8,460			23.2	%		77,702			95,070			17,369			22.4	%
Insurance commissions		968			1,094			1,171			1,068			1,408			1,646			552			50.4	%		2,062			3,055			992			48.1	%
Insurance expenses		31,029			31,135			31,125			31,980			35,717			34,932			3,797			12.2	%		62,163			70,649			8,485			13.6	%
Benefits and expenses		160,016			152,541			164,462			176,001			185,029			177,047			24,505			16.1	%		312,557			362,076			49,518			15.8	%
Income before income taxes	$	46,081		$	58,017		$	58,136		$	51,127		$	49,022		$	61,855		$	3,838			6.6	%	$	104,098		$	110,877		$	6,779			6.5	%

Investment & Savings Products
Revenues:
Commissions and fees:
Sales-based	$	56,220		$	59,057		$	55,149		$	56,894		$	60,517		$	60,692		$	1,635			2.8	%	$	115,276		$	121,209		$	5,933			5.1	%
Asset-based		55,306			59,541			60,759			61,997			64,474			67,424			7,882			13.2	%		114,848			131,897			17,050			14.8	%
Account-based		11,309			11,611			11,899			16,043			13,217			13,282			1,671			14.4	%		22,920			26,499			3,579			15.6	%
Other, net		2,083			2,399			2,273			2,081			2,199			2,376			(22	)		-0.9	%		4,481			4,575			94			2.1	%
Revenues		124,918			132,608			130,079			137,016			140,407			143,774			11,166			8.4	%		257,525			284,181			26,656			10.4	%
Benefits and expenses:
Amortization of DAC		1,919			1,704			1,636			889			1,734			2,310			607			35.6	%		3,623			4,044			422			11.6	%
Insurance commissions		2,631			2,884			3,001			2,941			2,959			3,050			166			5.7	%		5,515			6,008			494			9.0	%
Sales commissions:
Sales-based		40,327			42,040			38,276			40,031			43,209			43,253			1,213			2.9	%		82,367			86,462			4,095			5.0	%
Asset-based		23,093			24,907			25,271			26,368			27,630			28,965			4,058			16.3	%		48,000			56,595			8,595			17.9	%
Other operating expenses		25,257			25,008			26,136			25,946			27,756			26,512			1,504			6.0	%		50,265			54,268			4,003			8.0	%
Benefits and expenses		93,227			96,543			94,320			96,176			103,288			104,090			7,547			7.8	%		189,770			207,378			17,608			9.3	%
Income before income taxes	$	31,691		$	36,065		$	35,759		$	40,840		$	37,119		$	39,684		$	3,619			10.0	%	$	67,755		$	76,803		$	9,048			13.4	%

Corporate & Other Distributed Products
Revenues:
Direct premiums	$	7,886		$	8,072		$	8,191		$	6,779		$	7,319		$	6,941		$	(1,131	)		-14.0	%	$	15,958		$	14,260		$	(1,698	)		-10.6	%
Ceded premiums		(2,063	)		(2,191	)		(2,462	)		(2,710	)		(1,692	)		(1,868	)		323			14.8	%		(4,254	)		(3,560	)		694			16.3	%
Net premiums		5,823			5,881			5,729			4,069			5,627			5,073			(808	)		-13.7	%		11,704			10,700			(1,004	)		-8.6	%
Allocated net investment income		19,389			18,518			17,496			15,989			17,591			17,395			(1,123	)		-6.1	%		37,906			34,986			(2,921	)		-7.7	%
Commissions and fees:
Loans		44			43			36			31			30			33			(10	)		-23.5	%		87			63			(24	)		-27.2	%
DebtWatchers		282			280			262			264			241			223			(57	)		-20.2	%		562			464			(98	)		-17.4	%
Prepaid Legal Services		2,650			2,739			2,832			2,875			2,946			3,063			324			11.8	%		5,389			6,009			620			11.5	%
Auto and Homeowners Insurance		1,757			2,231			1,981			2,381			1,815			2,166			(65	)		-2.9	%		3,989			3,981			(7	)		-0.2	%
Long-Term Care Insurance		713			638			629			563			542			520			(117	)		-18.4	%		1,351			1,062			(289	)		-21.4	%
Other sales commissions		540			762			736			633			486			913			151			19.8	%		1,302			1,400			98			7.5	%
Other, net		1,171			1,296			1,283			1,450			1,294			1,530			234			18.1	%		2,466			2,824			357			14.5	%
Adjusted operating revenues		32,370			32,387			30,984			28,254			30,572			30,917			(1,470	)		-4.5	%		64,756			61,489			(3,268	)		-5.0	%
Benefits and expenses:
Benefits and claims		4,182			5,149			4,222			3,463			4,615			3,980			(1,169	)		-22.7	%		9,331			8,595			(737	)		-7.9	%
Amortization of DAC		(15	)		539			427			671			(17	)		613			74			13.7	%		524			596			71			13.6	%
Insurance commissions		548			494			537			447			532			461			(33	)		-6.6	%		1,042			994			(48	)		-4.6	%
Insurance expenses		2,101			1,771			1,712			1,496			1,904			1,988			217			12.3	%		3,872			3,892			20			0.5	%
Sales commissions		3,222			3,199			3,153			2,928			2,865			3,221			23			0.7	%		6,421			6,086			(335	)		-5.2	%
Interest expense		7,173			7,178			7,184			7,157			7,127			7,144			(34	)		-0.5	%		14,350			14,271			(79	)		-0.6	%
Other operating expenses		21,933			19,699			19,173			18,462			24,980			18,763			(937	)		-4.8	%		41,632			43,742			2,110			5.1	%
Benefits and expenses		39,145			38,029			36,408			34,622			42,006			36,170			(1,858	)		-4.9	%		77,174			78,176			1,003			1.3	%
Adjusted operating income before income taxes	$	(6,775	)	$	(5,642	)	$	(5,423	)	$	(6,368	)	$	(11,434	)	$	(5,254	)	$	389			6.9	%	$	(12,417	)	$	(16,687	)	$	(4,270	)		-34.4	%

(1)	Premiums ceded to IPO coinsurers - premiums ceded to IPO coinsurers under the IPO coinsurance transactions excluding any reimbursements from the IPO coinsurers on previously existing reinsurance agreements
(2)	Adjusted direct premiums - direct premiums net of premiums ceded to IPO coinsurers
(3)	Other ceded premiums - premiums ceded to non-IPO coinsurers net of any applicable reimbursements from the IPO coinsurers

8 of 16

Term Life Insurance - Financial Results and Analysis

PRIMERICA, INC.

Financial Supplement

(Dollars in thousands)																			YOY Q2												YOY YTD
Term Life Insurance Income Before Income Taxes		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
Revenues:
Direct Premiums	$	589,244		$	604,117		$	608,396		$	611,583		$	620,379		$	630,485		$	26,368			4.4	%	$	1,193,361		$	1,250,865		$	57,503			4.8	%
Premiums ceded to IPO coinsurers (1)		(321,494	)		(322,767	)		(319,516	)		(315,955	)		(312,982	)		(308,323	)		14,445			4.5	%		(644,262	)		(621,304	)		22,957			3.6	%
Adjusted direct premiums (2)		267,750			281,350			288,879			295,628			307,397			322,163			40,813			14.5	%		549,100			629,560			80,461			14.7	%
Other ceded premiums (3)		(71,776	)		(81,725	)		(77,697	)		(80,202	)		(85,095	)		(95,852	)		(14,127	)		-17.3	%		(153,501	)		(180,948	)		(27,446	)		-17.9	%
Net premiums		195,973			199,625			211,182			215,426			222,302			226,311			26,686			13.4	%		395,598			448,613			53,014			13.4	%
Allocated net investment income		1,850			1,871			1,903			2,010			2,303			2,347			475			25.4	%		3,721			4,650			929			25.0	%
Other, net		8,274			9,062			9,513			9,692			9,446			10,244			1,182			13.0	%		17,336			19,690			2,354			13.6	%
Revenues		206,097			210,559			222,598			227,128			234,051			238,902			28,343			13.5	%		416,655			472,953			56,297			13.5	%
Benefits and expenses:
Benefits and claims		86,795			83,835			88,800			91,209			97,771			95,532			11,697			14.0	%		170,630			193,302			22,672			13.3	%
Amortization of DAC		41,224			36,477			43,365			51,744			50,133			44,937			8,460			23.2	%		77,702			95,070			17,369			22.4	%
Insurance commissions		968			1,094			1,171			1,068			1,408			1,646			552			50.4	%		2,062			3,055			992			48.1	%
Insurance expenses		31,029			31,135			31,125			31,980			35,717			34,932			3,797			12.2	%		62,163			70,649			8,485			13.6	%
Benefits and expenses		160,016			152,541			164,462			176,001			185,029			177,047			24,505			16.1	%		312,557			362,076			49,518			15.8	%
Income before income taxes	$	46,081		$	58,017		$	58,136		$	51,127		$	49,022		$	61,855		$	3,838			6.6	%	$	104,098		$	110,877		$	6,779			6.5	%

Total Term Life Insurance - Financial Analysis
Primary direct premiums (4)	$	189,540		$	202,830		$	211,137		$	218,761		$	227,390		$	240,580		$	37,750			18.6	%	$	392,370		$	467,970		$	75,600			19.3	%
Legacy direct premiums (5)		399,704			401,287			397,258			392,821			392,989			389,906			(11,381	)		-2.8	%		800,991			782,894			(18,097	)		-2.3	%
Total direct premiums	$	589,244		$	604,117		$	608,396		$	611,583		$	620,379		$	630,485		$	26,368			4.4	%	$	1,193,361		$	1,250,865		$	57,503			4.8	%

Premiums ceded to IPO coinsurers	$	321,494		$	322,767		$	319,516		$	315,955		$	312,982		$	308,323		$	(14,445	)		-4.5	%	$	644,262		$	621,304		$	(22,957	)		-3.6	%
% of Legacy direct premiums		80.4	%		80.4	%		80.4	%		80.4	%		79.6	%		79.1	%	nm			nm				80.4	%		79.4	%	nm			nm

Benefits and claims, net (6)	$	158,571		$	165,560		$	166,497		$	171,411		$	182,866		$	191,384		$	25,824			15.6	%	$	324,131		$	374,250		$	50,119			15.5	%
% of adjusted direct premiums		59.2	%		58.8	%		57.6	%		58.0	%		59.5	%		59.4	%	nm			nm				59.0	%		59.4	%	nm			nm

DAC amortization & insurance commissions	$	42,193		$	37,572		$	44,537		$	52,812		$	51,542		$	46,584		$	9,012			24.0	%	$	79,764		$	98,125		$	18,361			23.0	%
% of adjusted direct premiums		15.8	%		13.4	%		15.4	%		17.9	%		16.8	%		14.5	%	nm			nm				14.5	%		15.6	%	nm			nm

Insurance expenses, net (7)	$	22,755		$	22,072		$	21,612		$	22,287		$	26,271		$	24,687		$	2,615			11.8	%	$	44,827		$	50,958		$	6,131			13.7	%
% of adjusted direct premiums		8.5	%		7.8	%		7.5	%		7.5	%		8.5	%		7.7	%	nm			nm				8.2	%		8.1	%	nm			nm

Total Term Life income before income taxes	$	46,081		$	58,017		$	58,136		$	51,127		$	49,022		$	61,855		$	3,838			6.6	%	$	104,098		$	110,877		$	6,779			6.5	%
Term Life operating margin (8)		17.2	%		20.6	%		20.1	%		17.3	%		15.9	%		19.2	%	nm			nm				19.0	%		17.6	%	nm			nm

(1)	Premiums ceded to IPO coinsurers - premiums ceded to IPO coinsurers under the IPO coinsurance transactions excluding any reimbursements from the IPO coinsurers on previously existing reinsurance agreements
(2)	Adjusted direct premiums - direct premiums net of premiums ceded to IPO coinsurers
(3)	Other ceded premiums - premiums ceded to non-IPO coinsurers net of any applicable reimbursements from the IPO coinsurers
(4)	Primary direct premiums - direct premiums not subject to the 2010 IPO coinsurance transactions
(5)	Legacy direct premiums - direct premiums subject to the 2010 IPO coinsurance transactions
(6)	Benefits and claims, net - benefits & claims net of other ceded premiums which are largely YRT
(7)	Insurance expenses, net - insurance expenses net of other net revenues
(8)	Term Life operating margin - Term Life operating income before income taxes as a percentage of adjusted direct premiums

9 of 16

Term Life Insurance - Key Statistics

PRIMERICA, INC.

Financial Supplement

																			YOY Q2												YOY YTD
(Dollars in thousands, except as noted)		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change
Key Statistics

Life-insurance licensed sales force, beginning of period		106,710			108,220			112,365			115,345			116,827			117,907			9,687			9.0	%		106,710			116,827			10,117			9.5	%
New life-licensed representatives		9,666			12,171			11,739			11,148			10,903			12,947			776			6.4	%		21,837			23,850			2,013			9.2	%
Non-renewal and terminated representatives		(8,156	)		(8,026	)		(8,759	)		(9,666	)		(9,823	)		(9,383	)		(1,357	)		-16.9	%		(16,182	)		(19,206	)		(3,024	)		-18.7	%
Life-insurance licensed sales force, end of period		108,220			112,365			115,345			116,827			117,907			121,471			9,106			8.1	%		112,365			121,471			9,106			8.1	%

Estimated annualized issued term life premium ($mills) (1):
Premium from new policies	$	54.0		$	63.1		$	61.9		$	66.2		$	59.4		$	70.2		$	7.1			11.2	%	$	117.1		$	129.6		$	12.5			10.7	%
Additions and increases in premium		14.0			15.4			15.2			15.9			15.1			16.5			1.0			6.8	%		29.4			31.6			2.2			7.6	%
Total estimated annualized issued term life premium	$	68.0		$	78.6		$	77.1		$	82.0		$	74.5		$	86.7		$	8.1			10.4	%	$	146.5		$	161.2		$	14.7			10.0	%

Issued term life policies		66,376			77,384			75,374			79,110			70,642			84,033			6,649			8.6	%		143,760			154,675			10,915			7.6	%
Estimated average annualized issued term life premium per policy (1)(2)	$	814		$	816		$	822		$	837		$	841		$	836		$	20			2.4	%	$	815		$	838		$	23			2.9	%

Term life face amount in-force, beginning of period ($mills)	$	693,194		$	704,632		$	714,756		$	722,162		$	728,385		$	733,756		$	29,125			4.1	%	$	693,194		$	728,385		$	35,191			5.1	%
Issued term life face amount (3)		19,790			23,145			22,775			24,159			21,628			25,458			2,312			10.0	%		42,935			47,086			4,151			9.7	%
Terminated term life face amount		(13,814	)		(12,700	)		(14,407	)		(16,318	)		(16,704	)		(14,994	)		(2,294	)		-18.1	%		(26,514	)		(31,698	)		(5,184	)		-19.6	%
Foreign currency impact, net		5,462			(321	)		(962	)		(1,619	)		447			2,207			2,528		nm				5,140			2,654			(2,486	)	nm
Term life face amount in-force, end of period	$	704,632		$	714,756		$	722,162		$	728,385		$	733,756		$	746,427		$	31,671			4.4	%	$	714,756		$	746,427		$	31,671			4.4	%

(1)	Estimated annualized issued term life premium - estimated as average premium per $1,000 of face amounts issued on new policies and additions (before free look returns) multiplied by actual face amount issued on new policies, rider additions and face amount increases.
(2)	In whole dollars
(3)	Issued term life face amount - includes face amount on issued term life policies, additional riders added to existing policies, and face increases under increasing benefit riders

10 of 16

Investment and Savings Products - Financial Results and Financial Analysis

PRIMERICA, INC.

Financial Supplement

(Dollars in thousands, except as noted)																			YOY Q2												YOY YTD
Investment & Savings Products Income Before Income Taxes		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change		% Change
Revenues:
Commissions and fees:
Sales-based	$	56,220		$	59,057		$	55,149		$	56,894		$	60,517		$	60,692		$	1,635			2.8	%	$	115,276		$	121,209		$	5,933		5.1	%
Asset-based		55,306			59,541			60,759			61,997			64,474			67,424			7,882			13.2	%		114,848			131,897			17,050		14.8	%
Account-based		11,309			11,611			11,899			16,043			13,217			13,282			1,671			14.4	%		22,920			26,499			3,579		15.6	%
Other, net		2,083			2,399			2,273			2,081			2,199			2,376			(22	)		-0.9	%		4,481			4,575			94		2.1	%
Revenues		124,918			132,608			130,079			137,016			140,407			143,774			11,166			8.4	%		257,525			284,181			26,656		10.4	%
Benefits and expenses:
Amortization of DAC		1,919			1,704			1,636			889			1,734			2,310			607			35.6	%		3,623			4,044			422		11.6	%
Insurance commissions		2,631			2,884			3,001			2,941			2,959			3,050			166			5.7	%		5,515			6,008			494		9.0	%
Sales commissions:
Sales-based		40,327			42,040			38,276			40,031			43,209			43,253			1,213			2.9	%		82,367			86,462			4,095		5.0	%
Asset-based		23,093			24,907			25,271			26,368			27,630			28,965			4,058			16.3	%		48,000			56,595			8,595		17.9	%
Other operating expenses		25,257			25,008			26,136			25,946			27,756			26,512			1,504			6.0	%		50,265			54,268			4,003		8.0	%
Benefits and expenses		93,227			96,543			94,320			96,176			103,288			104,090			7,547			7.8	%		189,770			207,378			17,608		9.3	%
Income before income taxes	$	31,691		$	36,065		$	35,759		$	40,840		$	37,119		$	39,684		$	3,619			10.0	%	$	67,755		$	76,803		$	9,048		13.4	%

Financial Analysis

Fees paid based on client asset values (1)	$	4,298		$	4,677		$	4,893		$	4,837		$	4,884		$	5,088		$	412			8.8	%	$	8,974		$	9,972		$	998		11.1	%
Fees paid based on fee-generating positions (2)		3,495			3,510			3,527			3,553			3,574			3,616			106			3.0	%		7,005			7,190			185		2.6	%
Other operating expenses		17,464			16,821			17,716			17,557			19,298			17,808			986			5.9	%		34,286			37,106			2,820		8.2	%
Total other operating expenses	$	25,257		$	25,008		$	26,136		$	25,946		$	27,756		$	26,512		$	1,504			6.0	%	$	50,265		$	54,268		$	4,003		8.0	%

Sales-based net revenue as % of revenue-generating sales (3)
U.S.		1.31	%		1.29	%		1.44	%		1.36	%		1.27	%		1.25	%	nm			nm				1.30	%		1.26	%	nm		nm
Canada		1.10	%		1.04	%		1.00	%		0.98	%		1.01	%		0.99	%	nm			nm				1.08	%		1.00	%	nm		nm
Total		1.28	%		1.26	%		1.38	%		1.32	%		1.23	%		1.21	%	nm			nm				1.27	%		1.22	%	nm		nm

Asset-based net revenue as % of average asset values (4)
U.S.		0.036	%		0.036	%		0.035	%		0.035	%		0.035	%		0.036	%	nm			nm				0.071	%		0.072	%	nm		nm
Canada		0.124	%		0.131	%		0.133	%		0.139	%		0.129	%		0.123	%	nm			nm				0.256	%		0.252	%	nm		nm
Total		0.050	%		0.052	%		0.051	%		0.052	%		0.051	%		0.050	%	nm			nm				0.102	%		0.101	%	nm		nm

Account-based net revenue per average fee generating position (5)(6)	$	2.74		$	2.81		$	2.89		$	4.34		$	3.34		$	3.32		nm			nm			$	5.54		$	6.66		nm		nm

(1)	Fees paid based on client asset values - administration fees on Canadian Segregated Funds and advisory fees on Managed Accounts that vary directly with client asset values
(2)	Fees paid based on fee-generating positions - recordkeeping fees that vary with the number of fee-generating positions
(3)	Sales-based net revenue - commission and fee revenue less commissions paid to the sales force based on product sales activity
(4)	Asset-based net revenue - commission and fee revenue less administration and advisory fees paid to third-party providers and commissions paid to the sales force earned based on product account values including amortization of deferred acquisition costs for segregated funds
(5)	Account-based net revenue - fee revenue less recordkeeping fees paid to third-party providers based on fee-generating positions
(6)	In whole dollars

11 of 16

Investment and Savings Products - Key Statistics

PRIMERICA, INC.

Financial Supplement

(Dollars in thousands, except as noted)																			YOY Q2												YOY YTD
Key Statistics		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change			YTD 2016			YTD 2017			$ Change			% Change

Product sales ($mills)
U.S. Retail Mutual Funds	$	599.9		$	693.2		$	652.4		$	671.6		$	752.2		$	804.2		$	111.0			16.0	%	$	1,293.1		$	1,556.5		$	263.4			20.4	%
Canada Retail Mutual Funds		209.6			159.4			144.3			149.0			232.8			182.7			23.2			14.6	%		369.1			415.5			46.4			12.6	%
Indexed Annuities		84.4			114.2			99.7			100.5			80.9			83.6			(30.7	)		-26.8	%		198.6			164.5			(34.2	)		-17.2	%
Variable Annuities and other		349.4			383.6			322.0			359.4			346.2			366.5			(17.1	)		-4.5	%		733.0			712.7			(20.3	)		-2.8	%
Total sales-based revenue generating product sales		1,243.3			1,350.5			1,218.5			1,280.4			1,412.2			1,437.0			86.5			6.4	%		2,593.8			2,849.1			255.3			9.8	%
Managed Accounts		45.2			55.2			54.0			57.4			70.8			72.4			17.1			31.0	%		100.5			143.1			42.7			42.5	%
Segregated Funds		87.3			63.9			68.7			69.8			102.4			63.5			(0.4	)		-0.6	%		151.2			165.9			14.6			9.7	%
Total product sales	$	1,375.9		$	1,469.6		$	1,341.2		$	1,407.6		$	1,585.3		$	1,572.8		$	103.2			7.0	%	$	2,845.5		$	3,158.1		$	312.6			11.0	%

Canada Retail Mutual Funds	$	209.6		$	159.4		$	144.3		$	149.0		$	232.8		$	182.7		$	23.2			14.6	%	$	369.1		$	415.5		$	46.4			12.6	%
Segregated Funds		87.3			63.9			68.7			69.8			102.4			63.5			(0.4	)		-0.6	%		151.2			165.9			14.6			9.7	%
Total Canada product sales		297.0			223.4			213.1			218.8			335.2			246.2			22.8			10.2	%		520.3			581.4			61.0			11.7	%
Total U.S. product sales		1,078.9			1,246.3			1,128.1			1,188.8			1,250.1			1,326.6			80.4			6.5	%		2,325.2			2,576.8			251.6			10.8	%
Total product sales	$	1,375.9		$	1,469.6		$	1,341.2		$	1,407.6		$	1,585.3		$	1,572.8		$	103.2			7.0	%	$	2,845.5		$	3,158.1		$	312.6			11.0	%

Client asset values, beginning of period ($mills)	$	47,353		$	48,174		$	49,372		$	51,334		$	52,339		$	54,925		$	6,751			14.0	%	$	47,353		$	52,339		$	4,986			10.5	%
Inflows		1,376			1,470			1,341			1,408			1,585			1,573			103			7.0	%		2,846			3,158			313			11.0	%
Outflows (1)		(1,153	)		(1,222	)		(1,141	)		(1,104	)		(1,266	)		(1,318	)		(95	)		-7.8	%		(2,376	)		(2,583	)		(208	)		-8.7	%
Net flows		223			247			201			304			320			255			8			3.2	%		470			575			105		nm
Foreign currency impact, net		555			(32	)		(99	)		(171	)		47			241			273		nm				523			288			(235	)	nm
Change in market value, net and other (2)		43			983			1,860			871			2,219			1,170			187			19.0	%		1,026			3,389			2,363		nm
Client asset values, end of period	$	48,174		$	49,372		$	51,334		$	52,339		$	54,925		$	56,591		$	7,219			14.6	%	$	49,372		$	56,591		$	7,219			14.6	%
Annualized net flows as % of beginning of period asset values		1.9	%		2.1	%		1.6	%		2.4	%		2.4	%		1.9	%		-0.2	%	nm				2.0	%		2.2	%		0.2	%	nm

Average client asset values ($mills)
U.S. Retail Mutual Funds	$	23,390		$	24,326		$	25,198		$	25,617		$	26,899		$	27,890		$	3,564			14.7	%		23,858			27,395		$	3,537			14.8	%
Canada Retail Mutual Funds		5,478			5,963			6,133			6,157			6,434			6,673			710			11.9	%		5,720			6,553			833			14.6	%
Managed Accounts		1,582			1,680			1,776			1,840			1,954			2,084			404			24.1	%		1,631			2,019			388			23.8	%
Indexed Annuities		1,366			1,450			1,539			1,629			1,699			1,774			324			22.4	%		1,408			1,737			329			23.4	%
Variable Annuities and other		12,711			13,228			13,694			13,901			14,505			14,982			1,753			13.3	%		12,969			14,744			1,774			13.7	%
Segregated Funds		2,120			2,289			2,339			2,301			2,331			2,375			85			3.7	%		2,204			2,353			149			6.7	%
Total	$	46,646		$	48,936		$	50,679		$	51,445		$	53,823		$	55,778		$	6,842			14.0	%	$	47,791		$	54,801		$	7,009			14.7	%

Canada Retail Mutual Funds	$	5,478		$	5,963		$	6,133		$	6,157		$	6,434		$	6,673		$	710			11.9	%	$	5,720		$	6,553		$	833			14.6	%
Segregated Funds		2,120			2,289			2,339			2,301			2,331			2,375			85			3.7	%		2,204			2,353			149			6.7	%
Total Canada average client assets		7,597			8,252			8,472			8,458			8,765			9,048			795			9.6	%		7,925			8,906			982			12.4	%
Total U.S. average client assets		39,049			40,684			42,207			42,987			45,058			46,730			6,046			14.9	%		39,866			45,894			6,028			15.1	%
Total average client assets	$	46,646		$	48,936		$	50,679		$	51,445		$	53,823		$	55,778		$	6,842			14.0	%	$	47,791		$	54,801		$	7,009			14.7	%

Average number of fee-generating positions (thous) (3)
Recordkeeping and custodial		2,191			2,200			2,203			2,209			2,218			2,237			38			1.7	%		2,196			2,228			32			1.5	%
Recordkeeping only		666			684			690			666			670			676			(8	)		-1.1	%		675			673			(2	)		-0.3	%
Total		2,857			2,884			2,893			2,875			2,887			2,913			30			1.0	%		2,870			2,900			30			1.1	%

(1)	Asset value outflows - include (a) redemptions of assets, (b) sales charges on the inflow sales figures, and (c) the net flow of money market funds sold and redeemed on the company's recordkeeping platform. The redemptions of assets must be estimated for approximately 4% of account values as these figures are not readily available. Actual redemptions as a percentage of account values for similar known account values are used to estimate the unknown redemption values.
(2)	Change in market value, net - market value fluctuations net of fees and expenses
(3)	Fee generating positions - mutual fund positions for which we receive recording keeping fees. An individual client account may include multiple mutual fund positions. We may also receive fees earned for custodial services that we provide to clients with retirement plan accounts that hold positions in these mutual funds.

12 of 16

Investment Portfolio - Summary of Holdings

PRIMERICA, INC.

Financial Supplement

	As of or for the period ended June 30, 2017
							% of Total						Avg
	Market		Amortized		Unrealized		Market			Amortized			Book			Avg
(Dollars in thousands)	Value		Cost			G/(L)	Value			Cost			Yield			Rating
Investment Portfolio by Asset Class

Cash and cash equivalents	$	154,499	$	154,499	$	-		7.3	%		7.6	%

Fixed Income:
Treasury		23,012		22,215		798		1.1	%		1.1	%		2.32	%	AAA
Government		177,655		169,904		7,751		8.4	%		8.4	%		3.51	%	AA-
Tax-Exempt Municipal		3,020		3,003		17		0.1	%		0.1	%		3.05	%	BBB+
Corporate		1,266,181		1,220,076		46,106		60.2	%		60.2	%		4.35	%	BBB+
Mortgage-Backed		97,934		93,712		4,223		4.7	%		4.6	%		3.88	%	AAA
Asset-Backed		80,293		79,850		443		3.8	%		3.9	%		2.56	%	AA
CMBS		127,660		125,096		2,564		6.1	%		6.2	%		3.03	%	AAA
Private		120,759		117,367		3,392		5.7	%		5.8	%		4.78	%	BBB
Redeemable Preferred		3,805		3,306		499		0.2	%		0.2	%		16.98	%	BBB+
Convertible		2,898		2,596		302		0.1	%		0.1	%		4.94	%	BBB
Total Fixed Income		1,903,218		1,837,125		66,093		90.4	%		90.6	%		4.11	%		A-

Equities:
Perpetual Preferred		18,230		15,972		2,258		0.9	%		0.8	%
Common Stock		15,801		9,872		5,928		0.8	%		0.5	%
Mutual Fund		8,711		6,326		2,385		0.4	%		0.3	%
Other		4,499		4,499				0.2	%		0.2	%
Total Equities		47,242		36,670		10,572		2.2	%		1.8	%

Total Invested Assets	$	2,104,959	$	2,028,294	$	76,665		100.0	%		100.0	%

Corporate Portfolio by Sector

Consumer Non Cyclical	$	142,646	$	137,387	$	5,259		11.3	%		11.3	%
Energy		141,070		136,061		5,010		11.1	%		11.2	%
Reits		140,405		136,065		4,340		11.1	%		11.2	%
Banking		137,738		134,223		3,515		10.9	%		11.0	%
Insurance		109,101		105,416		3,685		8.6	%		8.6	%
Technology		102,399		98,992		3,407		8.1	%		8.1	%
Communications		89,887		85,516		4,371		7.1	%		7.0	%
Capital Goods		83,811		80,232		3,579		6.6	%		6.6	%
Basic Industry		78,352		75,178		3,174		6.2	%		6.2	%
Electric		75,715		71,786		3,930		6.0	%		5.9	%
Consumer Cyclical		56,621		54,559		2,062		4.5	%		4.5	%
Transportation		46,118		44,854		1,264		3.6	%		3.7	%
Brokerage		31,537		29,989		1,548		2.5	%		2.5	%
Industrial Other		12,207		11,745		461		1.0	%		1.0	%
Natural Gas		8,451		8,088		364		0.7	%		0.7	%
Financial Other		6,123		6,098		25		0.5	%		0.5	%
Finance Companies		2,968		2,889		79		0.2	%		0.2	%
Utility Other		1,033		997		36		0.1	%		0.1	%
Total Corporate portfolio	$	1,266,181	$	1,220,076	$	46,106		100.0	%		100.0	%

Fixed-Maturity Securities - Effective Maturity

Effective maturity
< 1 Yr.	$	196,877	$	194,668	$	2,210		10.3	%		10.6	%		3.96	%
1-2 Yrs.		222,656		213,677		8,979		11.7	%		11.6	%		5.04	%
2-5 Yrs.		740,283		711,673		28,609		38.9	%		38.7	%		3.99	%
5-10 Yrs.		690,068		669,401		20,667		36.3	%		36.4	%		3.93	%
> 10 Yrs.		53,334		47,706		5,628		2.8	%		2.6	%		4.59	%
Total Fixed Income	$	1,903,218	$	1,837,125	$	66,093		100.0	%		100.0	%		4.10	%

Duration

Fixed Income portfolio duration		3.8	years

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

13 of 16

Investment Portfolio - Quality Ratings As of June 30, 2017

PRIMERICA, INC.

Financial Supplement

(Dollars in thousands)
Investment Portfolio Quality Ratings (1)
	Amortized Cost		% of Total
Total Fixed Income portfolio:
Rating
AAA	$	318,616		17.3	%
AA		154,735		8.4	%
A		432,381		23.5	%
BBB		842,004		45.8	%
Below Investment Grade		83,551		4.5	%
NA		5,838		0.3	%
Total Fixed Income	$	1,837,125		100.0	%


	Amortized Cost		% of Total				Amortized Cost		% of Total
Corporate asset class:						Private asset class:
Rating						Rating
AAA	$	10,772		0.9	%	AAA	$	-		—
AA		65,477		5.4	%	AA		1,237		1.1	%
A		350,973		28.8	%	A		5,181		4.4	%
BBB		725,423		59.5	%	BBB		102,547		87.4	%
Below Investment Grade		67,252		5.5	%	Below Investment Grade		8,401		7.2	%
NA		178		0.0	%	NA		-		—
Total Corporate	$	1,220,076		100.0	%	Total Private	$	117,367		100.0	%



CMBS asset class:						Mortgage-Backed asset class:
Rating						Rating
AAA	$	119,737		95.7	%	AAA	$	90,353		96.4	%
AA		89		0.1	%	AA		1,399		1.5	%
A		3,111		2.5	%	A		381		0.4	%
BBB		-		—		BBB		1,578		1.7	%
Below Investment Grade		1,160		0.9	%	Below Investment Grade		-		—
NA		1,000		0.8	%	NA		-		—
Total CMBS	$	125,096		100.0	%	Total Mortgage-Backed	$	93,712		100.0	%



Asset-Backed asset class:						Treasury & Government asset classes:
Rating						Rating
AAA	$	43,108		54.0	%	AAA	$	54,105		28.2	%
AA		6,558		8.2	%	AA		80,093		41.7	%
A		23,800		29.8	%	A		46,617		24.3	%
BBB		1,844		2.3	%	BBB		7,115		3.7	%
Below Investment Grade		190		0.2	%	Below Investment Grade		4,190		2.2	%
NA		4,351		5.4	%	NA		-		—
Total Asset-Backed	$	79,850		100.0	%	Total Treasury & Government	$	192,118		100.0	%



NAIC Designations

1	$	693,557		44.8	%
2		771,140		49.8	%
3		74,389		4.8	%
4		7,983		0.5	%
5		1,075		0.1	%
6		769		0.0	%
U.S. Insurer Fixed Income (2)		1,548,912		100.0	%
Other (3)		324,883
Cash and cash equivalents		154,499
Total Invested Assets	$	2,028,294

(1)	Ratings method for split ratings: If by 2 NRSROs, use lower of the two; if by 3 or more NRSROs, use second lowest
(2)	NAIC ratings for our U.S. insurance companies' fixed income portfolios
(3)	Other consists of assets held by our non-life companies, Canadian insurance company, and unrated equities

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

14 of 16

Investment Portfolio - Supplemental Data and Trends

PRIMERICA, INC.

Financial Supplement

																			YOY Q2
(Dollars in thousands)		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		$ Change			% Change
Net Investment Income by Source
Fixed-maturity securities (available-for-sale)	$	19,249		$	18,377		$	18,578		$	18,469		$	19,069		$	19,200			823			4.5	%
Fixed-maturity securities (held-to-maturity)		4,154			4,605			4,957			5,164			5,718			6,087			1,482			32.2	%
Equity Securities		520			502			505			526			535			515			13			2.6	%
Deposit asset underlying 10% reinsurance treaty		2,200			2,185			1,058			(231	)		1,032			770			(1,415	)		-64.8	%
Policy loans and other invested assets		330			352			317			342			305			317			(35	)		-9.9	%
Cash & cash equivalents		149			199			148			135			194			246			47			23.6	%
Total investment income		26,602			26,220			25,563			24,405			26,853			27,135			915			3.5	%
Investment expenses		1,210			1,226			1,208			1,242			1,241			1,306			80			6.5	%
Interest Expense on Surplus Note		4,154			4,605			4,957			5,164			5,718			6,087			1,482			32.2	%
Net investment income	$	21,238		$	20,389		$	19,398		$	17,999		$	19,894		$	19,742			(647	)		-3.2	%
Fixed income book yield, end of period		4.46	%		4.40	%		4.29	%		4.21	%		4.18	%		4.11	%
New money yield		3.14	%		2.41	%		1.24	%		2.00	%		2.31	%		2.83	%

																			YOY Q2
		Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017		% Pt Change
Fixed Income Portfolio Quality Ratings
Rating
AAA		16.7	%		15.6	%		16.1	%		17.0	%		17.4	%		17.3	%		1.8	%
AA		8.1	%		9.3	%		9.5	%		9.3	%		9.5	%		8.4	%		-0.9	%
A		22.5	%		21.9	%		21.2	%		22.2	%		21.6	%		23.5	%		1.6	%
BBB		46.3	%		47.5	%		47.7	%		45.8	%		46.0	%		45.8	%		-1.7	%
Below Investment Grade		6.4	%		5.6	%		5.2	%		5.4	%		5.0	%		4.5	%		-1.0	%
NA		0.0	%		0.1	%		0.4	%		0.3	%		0.4	%		0.3	%		0.2	%
Total Fixed Income		100.0	%		100.0	%		100.0	%					100.0	%		100.0	%	nm

Average rating by amortized cost		A	-		A	-		A	-		A	-		A	-		A	-	na

		As of June 30, 2017								As of June 30, 2017					As of June 30, 2017
		Market Value			Amortized Cost			Credit Rating		Market Value		Amortized Cost			Market Value		Amortized Cost
	Top 25 Exposures								Foreign Exposure (1)					Government Investments (1)

1	Canada	$	22,668		$	21,992		AAA	Australia	$	60,292	$	58,135	AAA	$	2,254	$	2,239
2	National Rural Utilities Cooperative		11,218			10,274		A	Canada		57,732		55,477	AA		4,691		4,401
3	General Electric Co		10,688			10,202		AA-	United Kingdom		49,404		47,930	A		18,855		18,034
4	AT&T Inc		10,289			9,273		BBB+	France		18,784		18,105	BBB		7,553		7,115
5	Wells Fargo & Co		9,635			8,842		A	Bermuda		17,777		17,241	Below Investment Grade		4,335		4,190
6	Enbridge Inc		8,990			8,686		BBB+	Switzerland		17,564		17,345	NA		0		0
7	TransCanada Corp		8,840			8,541		A-	Netherlands		14,008		12,865	Total	$	37,688	$	35,978
8	Province of Alberta Canada		8,772			8,621		A+	Cayman Islands		13,504		13,299
9	National Fuel Gas Co		8,665			8,074		BBB	Germany		12,395		12,231
10	Iberdrola SA		8,654			8,474		BBB+	Ireland		12,265		11,749	Non-Government Investments (1)
11	American Airlines Group Inc		8,593			8,513		AA-	Belgium		11,193		9,341
12	Goldman Sachs Group Inc/The		8,326			8,036		BBB+	Brazil		9,775		9,261	AAA	$	4,924	$	4,914
13	Anheuser-Busch InBev SA/NV		8,154			7,763		A-	Japan		8,932		8,594	AA		23,321		23,123
14	City of Toronto Canada		8,035			7,900		AA	Israel		8,572		8,262	A		103,429		100,473
15	Province of Ontario Canada		8,000			7,532		A+	Mexico		7,555		7,310	BBB		189,315		181,300
16	Municipal Finance Authority of BC		7,650			7,647		AA-	Emerging Markets (2)		14,779		13,989	Below Investment Grade		10,742		10,621
17	Australia & New Zealand Banking		7,620			7,495		AA-	All Other		35,568		35,772	NA		680		495
18	Prudential Financial Inc		7,517			7,151		A	Total	$	370,100	$	356,905	Total	$	332,411	$	320,927
19	HSBC Holdings PLC		7,440			7,211		A
20	AstraZeneca PLC		7,395			7,373		A-
21	PNC Financial Services Group Inc		7,285			7,104		A-
22	Brookfield Asset Management Inc		7,087			6,876		A-
23	SunTrust Banks Inc		6,997			6,895		BBB+
24	Express Scripts Holding Co		6,770			6,527		BBB+
25	Comcast Corporation		6,757			6,479		A-
Total		$	222,048		$	213,482

% of total fixed income portfolio			10.5	%		10.5	%

(1)	US$ denominated investments in issuers outside of the United States based on country of risk
(2)	Emerging markets is as defined by MSCI, Inc. which include Chile, India, Peru, Poland and South Africa

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

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Five-Year Historical Key Statistics

PRIMERICA, INC.

Financial Supplement

(Dollars in millions)	2012			2013			2014			2015			2016				Q1 2016			Q2 2016			Q3 2016			Q4 2016			Q1 2017			Q2 2017


Recruits		191,752			186,251			190,439			228,115			262,732			63,427			65,273			73,706			60,326			70,983			78,273


Life-insurance licensed sales force, beginning of period		91,176			92,373			95,566			98,358			106,710			106,710			108,220			112,365			115,345			116,827			117,907
New life-licensed representatives		34,425			34,155			33,832			39,632			44,724			9,666			12,171			11,739			11,148			10,903			12,947
Non-renewal and terminated representatives		(33,228	)		(30,962	)		(31,040	)		(31,280	)		(34,607	)		(8,156	)		(8,026	)		(8,759	)		(9,666	)		(9,823	)		(9,383	)
Life-insurance licensed sales force, end of period		92,373			95,566			98,358			106,710			116,827			108,220			112,365			115,345			116,827			117,907			121,471


Issued term life policies		222,558			214,617			220,984			260,059			298,244			66,376			77,384			75,374			79,110			70,642			84,033


Issued term life face amount	$	68,053		$	67,783		$	69,574		$	79,111		$	89,869		$	19,790		$	23,145		$	22,775		$	24,159		$	21,628		$	25,458


Term life face amount in force, beginning of period	$	664,955		$	670,412		$	674,868		$	681,927		$	693,194		$	693,194		$	704,632		$	714,756		$	722,162		$	728,385		$	733,756
Issued term life face amount		68,053			67,783			69,574			79,111			89,869			19,790			23,145			22,775			24,159			21,628			25,458
Terminated term life face amount		(61,593	)		(57,730	)		(54,962	)		(53,580	)		(57,238	)		(13,814	)		(12,700	)		(14,407	)		(16,318	)		(16,704	)		(14,994	)
Foreign currency impact, net		(1,003	)		(5,596	)		(7,553	)		(14,263	)		2,560			5,462			(321	)		(962	)		(1,619	)		447			2,207
Term life face amount in force, end of period	$	670,412		$	674,868		$	681,927		$	693,194		$	728,385		$	704,632		$	714,756		$	722,162		$	728,385		$	733,756		$	746,427


Estimated annualized issued term life premium
Premium from new policies	$	176.1		$	173.5		$	179.8		$	212.4		$	245.2		$	54.0		$	63.1		$	61.9		$	66.2		$	59.4		$	70.2
Additions and increases in premium		45.5			48.6			51.6			54.9			60.4			14.0			15.4			15.2			15.9			15.1			16.5
Total estimated annualized issued term life premium	$	221.5		$	222.1		$	231.4		$	267.3		$	305.7		$	68.0		$	78.6		$	77.1		$	82.0		$	74.5		$	86.7


Investment & Savings product sales	$	4,712.2		$	5,208.8		$	5,682.3		$	5,856.8		$	5,594.3		$	1,375.9		$	1,469.6		$	1,341.2		$	1,407.6		$	1,585.3		$	1,572.8

Investment & Savings average client asset values	$	35,904		$	41,035		$	46,936		$	48,477		$	49,427		$	46,646		$	48,936		$	50,679		$	51,445		$	53,823		$	55,778

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