Exhibit 99.2

Supplemental Financial Information

First Quarter 2010

Table of Contents	PRIMERICA, INC.
	Financial Supplement

	Page
Preface, definition of Non-GAAP financial measures	3
Balance sheets	4-5
Financial results and other statistical data	6
Statements of income	7
Reconciliation of GAAP to Non-GAAP financial measures	8-10
Segment operating results	11
Term life insurance segment - financial results and key statistics	12-13
Investment and savings product segment - financial results and key statistics	14
Investment portfolio	15-18
Five-year historical key statistics	19

2 of 19

Preface	PRIMERICA, INC.
	Financial Supplement

FIRST QUARTER 2010

This document is a financial supplement to our first quarter 2010 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 related to the business. 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:

• Pro forma adjustments enable presentation of our combined balance sheets and of our combined statements of income as if the reinsurance agreements and the reorganization activities executed in March and April 2010 (as described below) had occurred at the end of the respective reporting period for the balance sheet and at the beginning of the calendar year reflected for the statement of income. Certain pro forma adjustments for transactions occurring after March 31, 2009 are estimations and are subject to change.

• Operating adjustments exclude the impact of realized investment gains and losses, initial equity award grants awarded at the initial public offering (IPO) and accelerated vesting of existing equity awards in April 2010.

• Adjusted when used in describing stockholders’ equity refers to the removal of the impact of net unrealized gains and losses on invested assets.

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 GAAP to Non-GAAP financial measures are included throughout this financial supplement.

Pro forma shares throughout this supplement assumes 75 million shares outstanding, which reflects approximately 70 million shares of common stock and approximately 5 million share-based awards granted to our management and sales force leaders in connection with the IPO. This number does not reflect the actual number of shares of common stock outstanding subsequent to March 31, 2010.

The following transactions were executed in conjunction with the IPO in March and April 2010 (the “IPO-related Transactions”) and are included in our actual and/or pro forma financial results as appropriate.

IPO-related Transactions executed in first quarter 2010:

• On March 31, 2010, we reinsured between 80% and 90% of our business that was in-force at year-end 2009 to various affiliates of Citigroup Inc. (“Citi”) and declared extraordinary dividends to Citi.

IPO-related Transactions executed in second quarter 2010:

• On April 1, 2010, Citi contributed the legal entities comprising our business to us. We issued approximately 75.0 million shares of common stock and warrants exercisable for approximately 4.1 million additional shares of our common stock to Citi. Additionally, we issued a $300 million note to Citi, due March 31, 2015 and bearing interest at 5.5% annually.

• On April 1, 2010, our common stock began trading under the ticker symbol “PRI” on the New York Stock Exchange.

• On April 1, 2010, Citi sold approximately 24.6 million shares of our common stock (after giving effect to the over-allotment option) to the public in the IPO.

• On April 1, 2010, Citi contributed approximately 5.0 million shares back to us, which we granted in the form of equity awards to certain of our management and sales force leaders. Of these, approximately 200,000 shares were granted to replace unvested Citi awards.

• On April 15, 2010, Citi sold approximately 16.4 million shares and the warrants to purchase approximately 4.1 million additional shares of our common stock to private equity funds managed by Warburg Pincus LLC (“Warburg Pincus”) for a purchase price of $230 million (the “private equity transaction”). Following the IPO and the private equity transaction, certain historical Citi equity awards immediately vested, resulting in approximately $2.2 million of compensation expense and a reclassification of approximately $1.8 million from due to affiliates to paid-in capital.

• Effective as of April 1, 2010, in connection with the IPO and the private equity transaction, elections under Section 338(h)(10) of the Internal Revenue Code will be made, which will result in changes to our deferred tax balances and reduced stockholders’ equity.

The first quarter 2010 combined statement of income includes income attributable to the underlying policies that were reinsured to Citi on March 31, 2010 as well as income earned on the invested assets backing the reinsurance balances and extraordinary dividends declared as of that date. The combined balance sheet as of March 31, 2010 reflects the impact of the Citi reinsurance transactions executed on that date. As the Citi reinsurance transactions were given retroactive effect to January 1, 2010, the first quarter 2010 combined balance sheet also reflects a return of capital to Citi equally offsetting the income attributable to the underlying policies earned between January 1, 2010 and March 31, 2010. The first quarter 2010 combined balance sheet also reflects the extraordinary dividends declared on March 31, 2010.

Certain items throughout this supplement may not add due to rounding. Certain items throughout this supplement are noted as ‘na’ to indicate not applicable; certain variances are noted as ‘nm’ to indicate not meaningful.

3 of 19

Quarterly Balance Sheets	PRIMERICA, INC.
	Financial Supplement

(Dollars in thousands)	Mar 31, 2009			Jun 30, 2009			Sep 30, 2009			Dec 31, 2009			Mar 31, 2010
Combined / Consolidated Balance Sheet
Assets:
Investments and cash	$	5,866,133		$	6,360,019		$	6,888,696		$	7,096,708		$	3,002,900
Due from reinsurers		833,696			837,726			849,665			867,242			3,595,239
Deferred policy acquisition costs		2,718,724			2,757,143			2,797,269			2,789,905			702,429
Income taxes		—			—			—			—			56,114
Other assets		409,095			406,318			402,836			380,584			394,542
Separate account assets		1,536,367			1,766,928			2,033,119			2,093,342			2,222,267
Total assets	$	11,364,015		$	12,128,134		$	12,971,585		$	13,227,781		$	9,973,491
Liabilities:
Future policy benefits	$	4,038,781		$	4,100,628		$	4,161,925		$	4,197,454		$	4,248,277
Other policy liabilities		570,327			574,991			597,617			604,343			630,294
Income taxes		647,037			740,985			873,367			890,617			—
Other liabilities		335,639			358,927			374,251			498,252			1,125,954
Separate account liabilities		1,536,367			1,766,928			2,033,119			2,093,342			2,222,267
Total liabilities		7,128,151			7,542,459			8,040,279			8,284,008			8,226,792
Stockholders’ equity:
Common stock		—			—			—			—			—
Paid-in capital		1,086,861			1,095,756			1,097,843			1,124,096			1,312,072
Retained earnings		3,447,196			3,565,166			3,683,697			3,648,801			300,531
Treasury stock		—			—			—			—			—
Accumulated other comprehensive income (loss), net:
Net unrealized investment gains (losses) not other-than-temporarily impaired		(268,721	)		(67,583	)		134,720			146,105			85,265
Net unrealized investment losses other-than-temporarily impaired		(17,174	)		(16,521	)		(17,966	)		(16,120	)		(4,245	)
Cumulative translation adjustment		(12,298	)		8,857			33,012			40,891			53,076
Total stockholders’ equity		4,235,864			4,585,675			4,931,306			4,943,773			1,746,699
Total liabilities and stockholders’ equity	$	11,364,015		$	12,128,134		$	12,971,585		$	13,227,781		$	9,973,491
Reconciliation of Total Stockholders’ Equity to Adjusted Stockholders’ Equity
Total stockholders’ equity	$	4,235,864		$	4,585,675		$	4,931,306		$	4,943,773		$	1,746,699
Reconciling items:
Net unrealized investment gains (losses) not other-than-temporarily impaired		268,721			67,583			(134,720	)		(146,105	)		(85,265	)
Net unrealized investment losses other-than-temporarily impaired		17,174			16,521			17,966			16,120			4,245
Total reconciling items		285,895			84,104			(116,754	)		(129,985	)		(81,020	)
Adjusted stockholders’ equity	$	4,521,759		$	4,669,779		$	4,814,552		$	4,813,788		$	1,665,679
Deferred Policy Acquisition Costs Rollforward
Balance, beginning of period	$	2,727,422		$	2,718,724		$	2,757,143		$	2,797,269		$	2,789,905
General expenses deferred		13,416			14,563			21,006			15,552			16,095
Commission costs deferred		79,506			87,314			83,228			76,496			77,208
Amortization of deferred policy acquisition costs		(94,814	)		(86,234	)		(88,736	)		(111,506	)		(91,756	)
Transferred to reinsurers		—			—			—			—			(2,099,941	)
Foreign currency impact and other, net		(6,806	)		22,777			24,629			12,094			10,918
Balance, end of period	$	2,718,724		$	2,757,143		$	2,797,269		$	2,789,905		$	702,429

Note: The combined balance sheet as of March 31, 2010 reflects the impact of the Citi reinsurance transactions executed on March 31, 2010. The Citi reinsurance transactions were given retroactive effect to January 1, 2010. As a result, the first quarter 2010 combined balance sheet reflects a return of capital to Citi equally offsetting the income attributable to the underlying policies earned between January 1, 2010 and March 31, 2010. The first quarter 2010 combined balance sheet also reflects the extraordinary dividends declared on March 31, 2010.

4 of 19

Actual and Pro Forma Balance Sheets	PRIMERICA, INC.
	Financial Supplement

	December 31, 2009												March 31, 2010
(Dollars in thousands)	Actual			Adjustments for Reinsurance Transactions			Other Adjustments			(1) Pro Forma			Actual			Other Adjustments			(1)(2) Pro Forma
Combined / Consolidated Balance Sheet
Assets:
Investments and cash	$	7,096,708		$	(4,140,344	)	$	(626,639	)	$	2,329,725		$	3,002,900		$	(685,595	)	$	2,317,305
Due from reinsurers		867,242			2,655,469			—			3,522,711			3,595,239			—			3,595,239
Deferred policy acquisition costs		2,789,905			(2,122,533	)		—			667,372			702,429			—			702,429
Income taxes		—			33,416			(33,416	)		—			56,114			(56,114	)		—
Other assets		380,584			9,233			(5,604	)		384,213			394,542			(299	)		394,243
Separate account assets		2,093,342			—			—			2,093,342			2,222,267			—			2,222,267
Total assets	$	13,227,781		$	(3,564,759	)	$	(665,659	)	$	8,997,363		$	9,973,491		$	(742,008	)	$	9,231,483
Liabilities:
Future policy benefits	$	4,197,454		$	—		$	—		$	4,197,454		$	4,248,277		$	—		$	4,248,277
Other policy liabilities		604,343			—			—			604,343			630,294			—			630,294
Income taxes		890,617			(799,727	)		45,312			136,202			—			129,886			129,886
Other liabilities		498,252			(8,070	)		(10,454	)		479,728			1,125,954			(686,118	)		439,836
Note payable		—			—			300,000			300,000			—			300,000			300,000
Separate account liabilities		2,093,342			—			—			2,093,342			2,222,267			—			2,222,267
Total liabilities		8,284,008			(807,797	)		334,858			7,811,069			8,226,792			(256,232	)		7,970,560
Stockholders’ equity:
Common stock		—			—			750			750			—			750			750
Paid-in capital		1,124,096			287,013			(430,361	)		980,748			1,312,072			(384,380	)		927,692
Retained earnings		3,648,801			(2,975,308	)		(484,475	)		189,018			300,531			(30,146	)		270,385
Treasury stock		—			—			(72,000	)		(72,000	)		—			(72,000	)		(72,000	)
Accumulated other comprehensive income (loss), net:
Net unrealized investment gains (losses) not other-than-temporarily impaired		146,105			(68,667	)		(14,431	)		63,007			85,265			—			85,265
Net unrealized investment losses other-than-temporarily impaired		(16,120	)		—			—			(16,120	)		(4,245	)		—			(4,245	)
Cumulative translation adjustment		40,891			—			—			40,891			53,076			—			53,076
Total stockholders’ equity		4,943,773			(2,756,962	)		(1,000,517	)		1,186,294			1,746,699			(485,776	)		1,260,923
Total liabilities and stockholders’ equity	$	13,227,781		$	(3,564,759	)	$	(665,659	)	$	8,997,363		$	9,973,491		$	(742,008	)	$	9,231,483
Reconciliation of Total Stockholders’ Equity to Pro Forma Adjusted Stockholders’ Equity
Total stockholders’ equity										$	1,186,294								$	1,260,923
Reconciling items:
Net unrealized investment gains (losses) not other-than-temporarily impaired											(63,007	)								(85,265	)
Net unrealized investment losses other-than-temporarily impaired											16,120									4,245
Total reconciling items											(46,887	)								(81,020	)
Adjusted stockholders’ equity										$	1,139,407								$	1,179,903

(1) Pro forma combined balance sheets as of December 31, 2009 and March 31, 2010 as if all the first and second quarter 2010 IPO-related Transactions had been executed on December 31, 2009 and March 31, 2010, respectively.

(2) The reinsurance transactions were executed on March 31, 2010 and are fully reflected in our corresponding actual March 31, 2010 combined balance sheet, including a return of capital to Citi equaling the earnings on the underlying policies for the three months ended March 31, 2010. The adjustments used to derive the March 31, 2010 combined pro forma balance sheet include (a) the payment of a $676 million extraordinary dividend declared in March and paid in April; (b) a $300 million note payable executed in April 2010, and its corresponding decrease to stockholders’ equity as a return of capital to Citi; (c) an estimated $186 million reduction of stockholders’ equity and deferred tax adjustment related to our Section 338(h)(10) tax election to be effective as of April 2010; (d) the impact of certain fully vested equity awards related to the IPO; (e) the impact of certain equity awards converted from past equity awards in Citi shares that had not yet fully vested; and (f) the impact of certain past equity awards that were subject to accelerated vesting upon the IPO and the private equity transaction. The actual impact of the Section 338(h)(10) tax election is expected to be between $176 million and $196 million.

5 of 19

Financial Results and Other Statistical Data	PRIMERICA, INC.
	Financial Supplement

(Dollars in thousands, except per-share data)													Q1 2010
Pro Forma Earnings per Share
Weighted-average pro forma common shares outstanding - basic & diluted														69,978,588
Pro forma participating share-based awards														5,021,412
Pro forma shares														75,000,000
Pro forma net operating income													$	38,154
Dividends declared														—
Undistributed pro forma net operating earnings													$	38,154
Undistributed pro forma net operating earnings allocated to common stockholders - basic & diluted													$	35,600
Dividends declared - allocated to common stockholders														—
Total pro forma net operating earnings attributable to common stockholders													$	35,600
Pro forma net operating income per common share - basic													$	0.51
Pro forma net operating income per common share - diluted													$	0.51
	Q1 2009			Q2 2009			Q3 2009			Q4 2009			Q1 2010
Annualized Return on Equity
Average stockholders’ equity	$	4,173,925		$	4,410,769		$	4,758,491		$	4,937,540		$	4,979,893	(1)
Average adjusted stockholders’ equity	$	4,474,419		$	4,595,539		$	4,742,166		$	4,814,171		$	4,850,452	(1)
Net income return on stockholders’ equity		10.8	%		12.0	%		10.4	%		10.2	%		11.5	%
Net income return on adjusted stockholders’ equity		10.1	%		11.5	%		10.4	%		10.5	%		11.8	%
Net operating income return on adjusted stockholders’ equity		10.7	%		12.0	%		11.1	%		10.0	%		10.2	%
Average pro forma adjusted stockholders’ equity		na			na			na			na		$	1,159,655
Pro forma net operating income return on pro forma adjusted stockholders’ equity		na			na			na			na			13.2	%
Capital Structure
Debt-to-capital (2)		na			na			na			na			na
Pro forma debt to pro forma adjusted capital (2)		na			na			na			na			19.2	%
Cash and invested assets to stockholders’ equity		1.4			1.4			1.4			1.4			1.7
Cash and invested assets to adjusted stockholders’ equity		1.3			1.4			1.4			1.5			1.8
Pro forma cash and invested assets to pro forma adjusted stockholders’ equity		na			na			na			2.0			2.0
Pro forma adjusted stockholders’ equity per pro forma share		na			na			na			na		$	15.73
Financial Strength Ratings
Primerica Life Insurance Company:
S&P		AA			AA			AA			AA			AA
A.M. Best		A+			A+			A+			A+			A+
Fitch		A+			A+			A+			A+			A+
(Note: In April 2010, S&P lowered Primerica Life Insurance Company’s rating to AA-)

(1) The reinsurance agreements executed on March 31, 2010 had a material impact on period-end stockholders’ equity, but only impacted one day in determining first quarter 2010 average stockholders’ equity and average adjusted stockholders’ equity.

(2) Capital in the debt-to-capital ratio includes stockholders’ equity and the note payable.

6 of 19

Statement of Income	PRIMERICA, INC.
	Financial Supplement

	Combined / Consolidated Primerica, Inc.
																YOY
(Dollars in thousands)	Q1 2009			Q2 2009			Q3 2009			Q4 2009			Q1 2010			$ Variance			% Variance
Statement of Income
Revenues:
Direct premiums	$	516,647		$	529,004		$	531,713		$	535,417		$	537,845		$	21,198		4	%
Ceded premiums		(137,609	)		(158,401	)		(154,725	)		(160,019	)		(148,119	)		(10,510	)	-8	%
Net premiums		379,038			370,603			376,987			375,399			389,726			10,688		3	%
Net investment income		82,385			89,755			88,736			90,450			82,576			191		nm
Commissions and fees:
Sales-based (1)		28,203			29,451			28,672			32,472			36,363			8,160		29	%
Asset-based (2)		27,555			29,718			33,344			36,964			38,014			10,459		38	%
Account-based (3)		11,089			10,784			10,717			10,657			10,208			(881	)	-8	%
Other commissions and fees		12,870			12,737			11,546			9,208			7,105			(5,764	)	-45	%
Realized investment (losses) gains		(11,259	)		(9,003	)		(11,212	)		9,503			31,057			42,316		nm
Other, net		12,955			13,542			12,586			13,948			11,893			(1,062	)	-8	%
Total revenues		542,837			547,587			551,376			578,602			606,942			64,106		12	%
Benefits and expenses:
Benefits and claims		145,749			151,444			154,631			148,448			170,735			24,986		17	%
Amortization of deferred policy acquisition costs		94,814			86,234			88,736			111,506			91,756			(3,058	)	-3	%
Insurance commissions		14,620			6,396			6,384			6,988			6,371			(8,249	)	-56	%
Insurance expenses		40,088			36,203			39,480			32,989			37,529			(2,558	)	-6	%
Sales commissions:
Sales-based (1)		21,106			21,555			20,780			23,470			26,203			5,097		24	%
Asset-based (2)		9,430			9,533			10,883			12,157			12,715			3,285		35	%
Other sales commissions		9,653			9,301			8,513			6,374			4,963			(4,690	)	-49	%
Interest expense		—			—			—			—			—			—
Other operating expenses		32,601			28,587			34,092			37,698			36,268			3,667		11	%
Total benefits and expenses		368,062			349,253			363,502			379,630			386,541			18,479		5	%
Income before income taxes		174,775			198,334			187,875			198,972			220,402			45,626		26	%
Income taxes		62,218			66,214			64,044			72,890			77,116			14,898		24	%
Net income	$	112,557		$	132,120		$	123,831		$	126,082		$	143,286		$	30,728		27	%
Income Before Income Taxes by Segment
Term Life	$	167,704		$	174,295		$	167,978		$	158,937		$	157,750		$	(9,954	)	-6	%
Investments & Savings		20,371			20,717			26,221			26,096			25,447			5,076		25	%
Corporate & Other Distributed Products		(13,300	)		3,321			(6,324	)		13,939			37,205			50,505		nm
Income before income taxes	$	174,775		$	198,334		$	187,875		$	198,972		$	220,402		$	45,626		26	%

(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

7 of 19

Reconciliation of GAAP to Non-GAAP Financial Measures	PRIMERICA, INC.
	Financial Supplement

	Combined / Consolidated Primerica, Inc.
																YOY
(Dollars in thousands)	Q1 2009			Q2 2009			Q3 2009			Q4 2009			Q1 2010			$ Variance		% Variance
Reconciliation from Total Revenues to Operating Revenues
Total revenues	$	542,837		$	547,587		$	551,376		$	578,602		$	606,942		$	64,106	12	%
Operating revenues reconciling items:
Realized investment losses/gains - Corporate & Other		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Total operating revenues reconciling items		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Operating revenues	$	554,095		$	556,589		$	562,588		$	569,098		$	575,885		$	21,790	4	%
Reconciliation from Income Before Income Taxes to Operating Income Before Income Taxes
Income before income taxes	$	174,775		$	198,334		$	187,875		$	198,972		$	220,402		$	45,626	26	%
Operating income before income taxes reconciling items:
Realized investment losses/gains - Corporate & Other		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Initial & accelerated management / field grant expense - Corporate & Other		—			—			—			—			—			nm	nm
Total operating income before income taxes reconciling items		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Operating income before income taxes	$	186,034		$	207,336		$	199,087		$	189,468		$	189,345		$	3,311	2	%
Reconciliation from Net Income to Net Operating Income
Net income	$	112,557		$	132,120		$	123,831		$	126,082		$	143,286		$	30,728	27	%
Net income reconciling items:
Operating income before income taxes reconciling items		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Tax impact of operating income reconciling items at effective tax rate		(4,008	)		(3,006	)		(3,822	)		3,481			10,866			nm	nm
Total net income reconciling items		7,251			5,997			7,390			(6,022	)		(20,191	)		nm	nm
Net operating income	$	119,808		$	138,117		$	131,221		$	120,060		$	123,095		$	3,287	3	%

8 of 19

Reconciliation of GAAP to Pro Forma Non-GAAP Financial Measures	PRIMERICA, INC.
	Financial Supplement

	Combined / Consolidated Primerica, Inc.
																YOY
(Dollars in thousands)	Q1 2009			Q2 2009			Q3 2009			Q4 2009			Q1 2010			$ Variance		% Variance
Reconciliation from Total Revenues to Pro Forma Operating Revenues
Total revenues	$	542,837		$	547,587		$	551,376		$	578,602		$	606,942		$	64,106	12	%
Pro forma revenues reconciling items:
Ceded premiums - ceded to Citi reinsurers		(287,755	)		(270,259	)		(266,990	)		(259,032	)		(296,328	)		nm	nm
Pro rata net investment income - invested assets transferred to Citi reinsurers		(54,607	)		(59,547	)		(58,864	)		(59,963	)		(54,735	)		nm	nm
Total pro forma revenues reconciling items		(342,361	)		(329,806	)		(325,854	)		(318,995	)		(351,064	)		nm	nm
Pro forma revenues		200,476			217,781			225,522			259,607			255,879			55,403	28	%
Pro forma operating revenue reconciling items:
Realized investment losses/gains - Corporate & Other		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Total pro forma operating revenue reconciling items		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Pro forma operating revenues	$	211,734		$	226,783		$	236,734		$	250,103		$	224,822		$	13,087	6	%
Reconciliation from Income Before Income Taxes to Pro Forma Operating Income Before Income Taxes
Income before income taxes	$	174,775		$	198,334		$	187,875		$	198,972		$	220,402		$	45,626	26	%
Pro forma income before income taxes reconciling items:
Ceded premiums - ceded to Citi reinsurers		(287,755	)		(270,259	)		(266,990	)		(259,032	)		(296,328	)		nm	nm
Pro rata net investment income - invested assets transferred to Citi reinsurers		(54,607	)		(59,547	)		(58,864	)		(59,963	)		(54,735	)		nm	nm
Benefits and claims - ceded to Citi reinsurers		109,112			108,383			107,166			99,325			128,204			nm	nm
Amortization of DAC - ceded to Citi reinsurers		73,073			63,860			63,631			79,167			71,389			nm	nm
Insurance commissions - expense allowance received from Citi reinsurers		1,180			1,409			1,450			1,484			1,669			nm	nm
Insurance expenses - expense allowance received from Citi reinsurers		24,864			23,862			23,756			24,133			26,083			nm	nm
Interest expense - finance charge payable to Citi reinsurer		(2,597	)		(2,700	)		(2,532	)		(3,164	)		(2,812	)		nm	nm
Interest expense - note payable		(4,125	)		(4,125	)		(4,125	)		(4,125	)		(4,125	)		nm	nm
Other operating expenses - initial & accelerated mgmt equity grant expense		(33,288	)		(3,142	)		(3,142	)		(3,142	)		(33,288	)		nm	nm
Total pro forma income before income taxes reconciling items		(174,143	)		(142,260	)		(139,650	)		(125,317	)		(163,944	)		nm	nm
Pro forma income before income taxes		633			56,074			48,225			73,654			56,457			55,825	nm
Pro forma operating income before income taxes reconciling items:
Realized investment losses/gains - Corporate & Other		11,259			9,003			11,212			(9,503	)		(31,057	)		nm	nm
Initial & accelerated management / field grant expense - Corporate & Other		33,288			3,142			3,142			3,142			33,288			nm	nm
Total pro forma operating income before income taxes reconciling items		44,547			12,145			14,354			(6,361	)		2,231			nm	nm
Pro forma operating income before income taxes	$	45,179		$	68,219		$	62,579		$	67,293		$	58,689		$	13,509	30	%
Reconciliation from Net Income to Pro Forma Net Operating Income
Net income	$	112,557		$	132,120		$	123,831		$	126,082		$	143,286		$	30,728	27	%
Pro forma net income reconciling items:
Total pro forma income before income taxes reconciling items		(174,143	)		(142,260	)		(139,650	)		(125,317	)		(163,944	)		nm	nm
Tax impact of pro forma income reconciling items at effective tax rate		61,993			47,494			47,605			45,908			57,362			nm	nm
Total pro forma net income reconciling items		(112,150	)		(94,766	)		(92,046	)		(79,409	)		(106,582	)		nm	nm
Pro forma net income		407			37,353			31,786			46,672			36,703			36,296	nm
Pro forma net operating income reconciling items:
Total pro forma operating income before income taxes reconciling items		44,547			12,145			14,354			(6,361	)		2,231			nm	nm
Tax impact of operating income reconciling items at effective tax rate		(15,858	)		(4,055	)		(4,893	)		2,330			(781	)		nm	nm
Total pro forma net operating income reconciling items		28,689			8,090			9,461			(4,031	)		1,451			nm	nm
Pro forma net operating income	$	29,096		$	45,444		$	41,247		$	42,641		$	38,154		$	9,058	31	%

9 of 19

Reconciliation of GAAP to Pro Forma Non-GAAP Financial Measures by Segment	PRIMERICA, INC.
	Financial Supplement

	1st Quarter 2010
(Dollars in thousands)	(1) New Term Life Insurance			(2) Legacy Term Life Insurance			Term Life Insurance			Investments & Savings Products		Corp. & Other Distributed Products			Total
Income Before Income Taxes
Revenues:
Direct premiums	$	10,138		$	507,794		$	517,932		$	—	$	19,913		$	537,845
Ceded premiums		(3,737	)		(140,634	)		(144,370	)		—		(3,748	)		(148,119	)
Net premiums		6,401			367,160			373,561			—		16,165			389,726
Net investment income		109			62,109			62,218			—		20,358			82,576
Commissions and fees		—			—			—			84,585		7,105			91,690
Realized investment gains		—			—			—			—		31,057			31,057
Other, net		8,802			(20	)		8,782			2,108		1,004			11,893
Total revenues		15,312			429,249			444,561			86,693		75,689			606,942
Benefits and expenses:
Benefits and claims		1,517			159,592			161,109			—		9,626			170,735
Amortization of deferred policy acquisition costs		968			87,839			88,807			2,549		400			91,756
Insurance commissions		—			2,124			2,124			1,809		2,438			6,371
Insurance expenses		15,853			18,917			34,770			—		2,759			37,529
Sales commissions		—			—			—			38,918		4,963			43,881
Interest expense		—			—			—			—		—			—
Other operating expenses		—			—			—			17,970		18,298			36,268
Total benefits and expenses		18,338			268,472			286,810			61,246		38,484			386,541
Income before income taxes	$	(3,027	)	$	160,777		$	157,750		$	25,447	$	37,205		$	220,402
Reconciliation from Total Revenues to Pro Forma Operating Revenues
Total revenues	$	15,312		$	429,249		$	444,561		$	86,693	$	75,689		$	606,942
Pro forma revenues reconciling items:
Ceded premiums - ceded to Citi reinsurers		—			(296,328	)		(296,328	)		—		—			(296,328	)
Pro rata net investment income - invested assets transferred to Citi reinsurers		—			(48,609	)		(48,609	)		—		(6,126	)		(54,735	)
Total pro forma revenues reconciling items		—			(344,937	)		(344,937	)		—		(6,126	)		(351,064	)
Pro forma revenues		15,312			84,311			99,623			86,693		69,563			255,879
Pro forma operating revenue reconciling items:
Realized investment losses/gains		—			—			—			—		(31,057	)		(31,057	)
Total pro forma operating revenue reconciling items		—			—			—			—		(31,057	)		(31,057	)
Pro forma operating revenues	$	15,312		$	84,311		$	99,623		$	86,693	$	38,506		$	224,822
Reconciliation from Income Before Income Taxes to Pro Forma Operating Income Before Income Taxes
Income before income taxes	$	(3,027	)	$	160,777		$	157,750		$	25,447	$	37,205		$	220,402
Pro forma income before income taxes reconciling items:
Ceded premiums - ceded to Citi reinsurers		—			(296,328	)		(296,328	)		—		—			(296,328	)
Pro rata net investment income - invested assets transferred to Citi reinsurers		—			(48,609	)		(48,609	)		—		(6,126	)		(54,735	)
Benefits and claims - ceded to Citi reinsurers		—			128,204			128,204			—		—			128,204
Amortization of DAC - ceded to Citi reinsurers		—			71,389			71,389			—		—			71,389
Insurance commissions - expense allowance received from Citi reinsurers		—			1,669			1,669			—		—			1,669
Insurance expenses - expense allowance received from Citi reinsurers		—			26,083			26,083			—		—			26,083
Interest expense - finance charge payable to Citi reinsurer		—			(2,812	)		(2,812	)		—		—			(2,812	)
Interest expense - note payable		—			—			—			—		(4,125	)		(4,125	)
Other operating expenses - initial & accelerated mgmt equity grant expense		—			—			—			—		(33,288	)		(33,288	)
Total pro forma income before income taxes reconciling items		—			(120,405	)		(120,405	)		—		(43,540	)		(163,944	)
Pro forma income before income taxes		(3,027	)		40,372			37,346			25,447		(6,335	)		56,457
Pro forma operating income before income taxes reconciling items:
Realized investment losses/gains		—			—			—			—		(31,057	)		(31,057	)
Initial & accelerated management/field grant expense		—			—			—			—		33,288			33,288
Total pro forma operating income before income taxes reconciling items		—			—			—			—		2,231			2,231
Pro forma operating income before income taxes	$	(3,027	)	$	40,372		$	37,346		$	25,447	$	(4,104	)	$	58,689

(1) New Term Life Insurance - subsegment of the Term Life segment consisting of term life insurance policies issued after Citi reinsurance transactions

(2) Legacy Term Life Insurance - subsegment of the Term Life segment consisting of term life insurance policies issued before Citi reinsurance transactions

10 of 19

Segment Operating Results	PRIMERICA, INC.
	Financial Supplement

	Pro Forma Q1 2009			Pro Forma Q2 2009			Pro Forma Q3 2009			Pro Forma Q4 2009			Pro Forma Q1 2010			YOY
(Dollars in thousands)																$ Variance			% Variance
Term Life Insurance
Revenues:
Direct premiums	$	496,683		$	507,376		$	510,695		$	516,234		$	517,932		$	21,248		4	%
Ceded premiums		(422,006	)		(425,341	)		(418,216	)		(415,263	)		(440,699	)		(18,692	)	-4	%
Net premiums		74,677			82,035			92,479			100,970			77,233			2,556		3	%
Allocated net investment income		17,832			19,393			19,178			19,591			13,609			(4,223	)	-24	%
Other, net		8,615			7,611			8,939			8,490			8,782			167		2	%
Operating revenues		101,124			109,039			120,596			129,051			99,623			(1,501	)	-1	%
Benefits and expenses:
Benefits and claims		26,614			31,437			37,032			39,968			32,905			6,291		24	%
Amortization of deferred policy acquisition costs		19,439			20,506			23,003			28,984			17,418			(2,020	)	-10	%
Insurance commissions		8,876			660			336			2,220			456			(8,420	)	-95	%
Insurance expenses		11,639			8,848			12,132			5,504			8,687			(2,952	)	-25	%
Interest expense		2,597			2,700			2,532			3,164			2,812			215		8	%
Operating benefits and expenses		69,165			64,150			75,036			79,840			62,278			(6,888	)	-10	%
Operating income before income taxes	$	31,959		$	44,889		$	45,560		$	49,212		$	37,346		$	5,387		17	%
Investments & Savings Products
Revenues:
Commissions and fees:
Sales-based	$	28,203		$	29,451		$	28,672		$	32,472		$	36,363		$	8,160		29	%
Asset-based		27,555			29,718			33,344			36,964			38,014			10,459		38	%
Account-based		11,089			10,784			10,717			10,657			10,208			(881	)	-8	%
Other, net		2,437			2,536			2,682			2,858			2,108			(329	)	-14	%
Operating revenues		69,285			72,488			75,415			82,952			86,693			17,408		25	%
Benefits and expenses:
Amortization of deferred policy acquisition costs		1,936			1,508			1,304			2,506			2,549			613		32	%
Insurance commissions		1,737			1,482			1,766			1,845			1,809			72		4	%
Sales commissions:
Sales-based		21,106			21,555			20,780			23,470			26,203			5,097		24	%
Asset-based		9,430			9,533			10,883			12,157			12,715			3,285		35	%
Other operating expenses		14,705			17,693			14,461			16,878			17,970			3,266		22	%
Operating benefits and expenses		48,914			51,771			49,194			56,856			61,246			12,332		25	%
Operating income before income taxes	$	20,371		$	20,717		$	26,221		$	26,096		$	25,447		$	5,076		25	%
Corporate & Other Distributed Products
Revenues:
Direct premiums	$	19,964		$	21,628		$	21,018		$	19,184		$	19,913		$	(51	)	nm
Ceded premiums		(3,357	)		(3,319	)		(3,499	)		(3,787	)		(3,748	)		(391	)	-12	%
Net premiums		16,606			18,309			17,518			15,396			16,165			(442	)	-3	%
Allocated net investment income		9,946			10,815			10,695			10,897			14,232			4,286		43	%
Commissions and fees:
Loans		8,832			8,685			7,401			4,738			2,455			(6,377	)	-72	%
DebtWatchers		—			1			120			386			620			620		nm
Prepaid Legal Services		2,438			2,338			2,323			2,316			2,340			(98	)	-4	%
Auto and Homeowners Insurance		844			994			994			1,104			1,012			167		20	%
Long-Term Care Insurance		755			719			709			664			679			(77	)	-10	%
Other, net		1,903			3,395			964			2,600			1,004			(900	)	-47	%
Operating revenues		41,325			45,256			40,723			38,100			38,506			(2,820	)	-7	%
Benefits and expenses:
Benefits and claims		10,023			11,625			10,433			9,155			9,626			(397	)	-4	%
Amortization of deferred policy acquisition costs		366			360			798			849			400			34		9	%
Insurance commissions		2,827			2,845			2,832			1,439			2,438			(389	)	-14	%
Insurance expenses		3,585			3,493			3,592			3,352			2,759			(826	)	-23	%
Sales commissions		9,653			9,301			8,513			6,374			4,963			(4,690	)	-49	%
Interest expense		4,125			4,125			4,125			4,125			4,125			—		nm
Other operating expenses		17,896			10,894			19,631			20,820			18,298			401		2	%
Operating benefits and expenses		48,476			42,643			49,925			46,114			42,609			(5,866	)	-12	%
Operating income before income taxes	$	(7,150	)	$	2,613		$	(9,201	)	$	(8,014	)	$	(4,104	)	$	3,046		43	%

11 of 19

Term Life Insurance - Financial Results	PRIMERICA, INC.
	Financial Supplement

	Pro Forma Q1 2009			Pro Forma Q2 2009			Pro Forma Q3 2009			Pro Forma Q4 2009			Pro Forma Q1 2010			YOY
(Dollars in thousands)																$ Variance			% Variance
Term Life Insurance Operating Income Before Income Taxes
Revenues:
Direct premiums	$	496,683		$	507,376		$	510,695		$	516,234		$	517,932		$	21,248		4	%
Ceded premiums		(422,006	)		(425,341	)		(418,216	)		(415,263	)		(440,699	)		(18,692	)	-4	%
Net premiums		74,677			82,035			92,479			100,970			77,233			2,556		3	%
Net investment income		17,832			19,393			19,178			19,591			13,609			(4,223	)	-24	%
Other, net		8,615			7,611			8,939			8,490			8,782			167		2	%
Operating revenues		101,124			109,039			120,596			129,051			99,623			(1,501	)	-1	%
Benefits and expenses:
Benefits and claims		26,614			31,437			37,032			39,968			32,905			6,291		24	%
Amortization of deferred policy acquisition costs		19,439			20,506			23,003			28,984			17,418			(2,020	)	-10	%
Insurance commissions		8,876			660			336			2,220			456			(8,420	)	-95	%
Insurance expenses		11,639			8,848			12,132			5,504			8,687			(2,952	)	-25	%
Interest expense		2,597			2,700			2,532			3,164			2,812			215		8	%
Operating benefits and expenses		69,165			64,150			75,036			79,840			62,278			(6,888	)	-10	%
Operating income before income taxes	$	31,959		$	44,889		$	45,560		$	49,212		$	37,346		$	5,387		17	%
New Term Life Insurance Operating Income Before Income Taxes
Revenues:
Direct premiums		na			na			na			na		$	10,138
Ceded premiums		na			na			na			na			(3,737	)
Net premiums		na			na			na			na			6,401
Net investment income		na			na			na			na			109
Other, net		na			na			na			na			8,802
Operating revenues		na			na			na			na			15,312
Benefits and expenses:
Benefits and claims		na			na			na			na			1,517
Amortization of deferred policy acquisition costs		na			na			na			na			968
Insurance commissions		na			na			na			na			—
Insurance expenses		na			na			na			na			15,853
Interest expense		na			na			na			na			—
Operating benefits and expenses		na			na			na			na			18,338
Operating income before income taxes		na			na			na			na		$	(3,027	)
Legacy Term Life Insurance Operating Income Before Income Taxes
Revenues:
Direct premiums		na			na			na			na		$	507,794
Ceded premiums		na			na			na			na			(436,962	)
Net premiums		na			na			na			na			70,832
Net investment income		na			na			na			na			13,500
Other, net		na			na			na			na			(20	)
Operating revenues		na			na			na			na			84,311
Benefits and expenses:
Benefits and claims		na			na			na			na			31,388
Amortization of deferred policy acquisition costs		na			na			na			na			16,450
Insurance commissions		na			na			na			na			456
Insurance expenses		na			na			na			na			(7,166	)
Interest expense		na			na			na			na			2,812
Operating benefits and expenses		na			na			na			na			43,939
Operating income before income taxes		na			na			na			na		$	40,372

12 of 19

Term Life Insurance - Key Statistics and Financial Analysis	PRIMERICA, INC.
	Financial Supplement

	Q1 2009			Q2 2009			Q3 2009			Q4 2009			Q1 2010			YOY
(Dollars in thousands, except as noted)																$ Variance			% Variance
Key Statistics
Life-insurance licensed sales force (end of period)		100,409			100,672			101,095			99,785			97,354			(3,055	)	-3	%
Estimated annualized issued term life premium ($mills) (1)	$	54		$	62		$	59		$	61		$	54		$	—		nm
Issued term life policies		53,023			62,202			58,070			60,542			52,445			(578	)	-1	%
Term life face amount in force, beginning of period ($mills)	$	633,467		$	631,566		$	639,377		$	646,341		$	650,195		$	16,729		3	%
Issued term life face amount (2)		18,660			21,070			19,909			20,858			17,997			(663	)	-4	%
Terminated term life face amount		(19,781	)		(16,564	)		(17,302	)		(19,474	)		(18,750	)		1,031		5	%
Foreign currency impact, net		(779	)		3,304			4,357			2,471			2,348			3,127		nm
Term life face amount in force, end of period	$	631,566		$	639,377		$	646,341		$	650,195		$	651,790		$	20,223		3	%
	Pro  Forma Q1 2009			Pro  Forma Q2 2009			Pro  Forma Q3 2009			Pro  Forma Q4 2009			Pro  Forma Q1 2010
New Term Life Insurance - Financial Analysis
Direct premium		na			na			na			na		$	10,138
New term life operating income before income taxes		na			na			na			na		$	(3,027	)
% of direct premium		na			na			na			na			-29.9	%
Benefits & expenses, net (3)		na			na			na			na		$	6,222
% of direct premium		na			na			na			na			61.4	%
Insurance expenses, net (4)		na			na			na			na		$	7,051
% of direct premium		na			na			na			na			69.6	%
Legacy Term Life Insurance - Financial Analysis
Direct premium		na			na			na			na		$	507,794
Legacy term life operating income before income taxes		na			na			na			na		$	40,372
% of direct premium														8.0	%

(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) 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

(3) Benefits & expenses, net - includes total benefits & claims, ceded premiums, insurance commissions, and amortization of deferred policy acquisition costs

(4) Insurance expenses, net - insurance expenses net of other net revenues

13 of 19

Investments and Savings Product - Financial Results, Key Statistics, and Financial Analysis	PRIMERICA, INC.
	Financial Supplement

																YOY
(Dollars in thousands, except as noted)	Q1 2009			Q2 2009			Q3 2009			Q4 2009			Q1 2010			$ Variance			% Variance
Investments & Savings Product Statement of Operating Income Before Income Taxes (1)
Revenues:
Commissions and fees:
Sales-based	$	28,203		$	29,451		$	28,672		$	32,472		$	36,363		$	8,160		29	%
Asset-based		27,555			29,718			33,344			36,964			38,014			10,459		38	%
Account-based		11,089			10,784			10,717			10,657			10,208			(881	)	-8	%
Other, net		2,437			2,536			2,682			2,858			2,108			(329	)	-14	%
Operating revenues		69,285			72,488			75,415			82,952			86,693			17,408		25	%
Benefits and expenses:
Amortization of deferred policy acquisition costs		1,936			1,508			1,304			2,506			2,549			613		32	%
Insurance commissions		1,737			1,482			1,766			1,845			1,809			72		4	%
Sales commissions:
Sales-based		21,106			21,555			20,780			23,470			26,203			5,097		24	%
Asset-based		9,430			9,533			10,883			12,157			12,715			3,285		35	%
Other operating expenses		14,705			17,693			14,461			16,878			17,970			3,266		22	%
Operating benefits and expenses		48,914			51,771			49,194			56,856			61,246			12,332		25	%
Operating income before income taxes	$	20,371		$	20,717		$	26,221		$	26,096		$	25,447		$	5,076		25	%
Key Statistics
Product sales ($mills)
Mutual Funds	$	445		$	428		$	444		$	504		$	595		$	150		34	%
Variable Annuities / 401(k)		208			248			218			249			267			59		28	%
Total sales based revenue generating product sales		653			675			662			753			862			209		32	%
Segregated Funds		75			56			60			72			111			36		48	%
Total product sales	$	729		$	731		$	722		$	825		$	974		$	245		34	%
Asset values (beginning of period) ($millions)	$	24,677		$	23,146		$	26,496		$	30,114		$	31,303		$	6,626		27	%
Inflows		729			731			722			825			974			245		34	%
Outflows (2)		(816	)		(705	)		(717	)		(758	)		(956	)		(140	)	-17	%
Net flows		(88	)		26			4			67			17			105		nm
Change in market value, net (3)		(1,443	)		3,323			3,614			1,123			1,350			2,792		nm
Asset values (end of period)	$	23,146		$	26,496		$	30,114		$	31,303		$	32,670		$	9,524		41	%
Average asset values	$	23,253		$	25,340		$	28,413		$	30,375		$	31,404		$	8,151		35	%
Average asset values ($millions)
Mutual Funds	$	16,818		$	18,261		$	20,441		$	21,795		$	22,453		$	5,635		34	%
Variable Annuities / 401(k)		4,926			5,379			6,064			6,539			6,847			1,920		39	%
Segregated Funds		1,510			1,699			1,908			2,041			2,105			596		39	%
Total	$	23,253		$	25,340		$	28,413		$	30,375		$	31,404		$	8,151		35	%
Average number of fee generating accounts (thous) (4)		2,904			2,844			2,813			2,790			2,762			(142	)	-5	%
Financial Analysis
Sales-based net revenue as % of sales (5)		1.09	%		1.17	%		1.19	%		1.20	%		1.18	%
Asset-based net revenue as % of average asset values (6)		0.06	%		0.07	%		0.07	%		0.07	%		0.07	%
Account-based revenue per average fee generating account (4)		3.82			3.79			3.81			3.82			3.70

(1) The reinsurance and reorganization transactions had no pro forma effect on the results of the Investments and Savings Product segment.

(2) 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 9% 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.

(3) Change in market value, net - market value fluctuations net of fees, expenses, and foreign currency impact

(4) Fee generating accounts - mutual fund accounts for which we receive recording keeping and/or custodial fees

(5) Sales-based net revenue - commission and fee revenue less commissions paid to the sales force based on Investment and Savings product sales activity

(6) Asset-based net revenue - commission and fee revenue less commissions paid to the sales force earned based on Investment and Savings product account values including amortization of deferred acquisition costs for Segregated funds

14 of 19

Investment Portfolio - Summary of Holdings	PRIMERICA, INC.
	Financial Supplement

	As of or for the period ended March 31, 2010
								% of Total				Avg Book Yield		Avg Rating
(Dollars in thousands)	Market Value		Amortized Cost		Unrealized G/(L)			Market Value		Amortized Cost
Investment Portfolio by Asset Class
Cash and cash equivalents	$	929,153	$	929,153	$	—		31.2	%	32.7	%
Fixed Income:
Treasury		47,662		43,638		4,025		1.6	%	1.5	%	3.10	%	AAA
Government		82,752		71,978		10,774		2.8	%	2.5	%	5.28	%	AA-
Tax-Exempt Municipal		11,486		10,725		761		0.4	%	0.4	%	4.10	%	AA-
Corporate		1,083,669		994,655		89,014		36.4	%	35.0	%	6.30	%	BBB+
Mortgage-Backed		427,508		408,192		19,316		14.4	%	14.4	%	5.55	%	AA+
Asset-Backed		56,297		58,807		(2,511	)	1.9	%	2.1	%	2.54	%	AA-
CMBS		159,409		159,288		120		5.4	%	5.6	%	5.49	%	AAA
Private		122,424		115,294		7,130		4.1	%	4.1	%	6.26	%	BBB-
Redeemable Preferred		118		437		(318	)	0.0	%	0.0	%	8.59	%	A-
Convertible		35,490		33,913		1,577		1.2	%	1.2	%	3.82	%	A-
Total Fixed Income		2,026,814		1,896,927		129,887		68.1	%	66.7	%	5.79	%	A
Equities:
Perpetual Preferred		2,201		2,197		4		0.1	%	0.1	%
Common Stock		10,932		7,723		3,209		0.4	%	0.3	%
Mutual Fund		4,524		2,976		1,549		0.2	%	0.1	%
Other		3,501		3,479		21		0.1	%	0.1	%
Total Equities		21,159		16,376		4,783		0.7	%	0.6	%
Total invested assets	$	2,977,126	$	2,842,456	$	134,670		100.0	%	100.0	%
Corporate Portfolio by Sector
Banking	$	80,254	$	75,638	$	4,616		7.4	%	7.6	%
Basic Industry		84,912		76,986		7,926		7.8	%	7.7	%
Brokerage		10,778		9,774		1,005		1.0	%	1.0	%
Capital Goods		75,055		69,480		5,575		6.9	%	7.0	%
Communications		104,158		95,095		9,063		9.6	%	9.6	%
Consumer Cyclical		49,149		44,127		5,021		4.5	%	4.4	%
Consumer Non Cyclical		107,992		97,191		10,800		10.0	%	9.8	%
Electric		120,053		110,094		9,959		11.1	%	11.1	%
Energy		68,035		60,000		8,035		6.3	%	6.0	%
Finance Companies		26,882		22,676		4,206		2.5	%	2.3	%
Financial Other		7,885		7,446		439		0.7	%	0.7	%
Industrial Other		14,624		13,969		655		1.3	%	1.4	%
Insurance		122,421		116,232		6,189		11.3	%	11.7	%
Natural Gas		63,120		56,972		6,148		5.8	%	5.7	%
REITs		83,093		79,598		3,495		7.7	%	8.0	%
Technology		40,856		37,226		3,630		3.8	%	3.7	%
Transportation		19,035		17,161		1,873		1.8	%	1.7	%
Utility Other		5,368		4,990		378		0.5	%	0.5	%
Total Corporate portfolio	$	1,083,669	$	994,655	$	89,014		100.0	%	100.0	%
Fixed-Maturity Securities - Effective Maturity
Effective maturity (1)
< 1 Yr.	$	233,710	$	229,109	$	4,601		11.5	%	12.1	%
1-2 Yrs.		203,905		194,057		9,848		10.1	%	10.2	%
2-5 Yrs.		945,215		883,511		61,704		46.6	%	46.6	%
5-10 Yrs.		580,747		532,473		48,273		28.7	%	28.1	%
> 10 Yrs.		63,237		57,777		5,460		3.1	%	3.0	%
Total Fixed Income	$	2,026,814	$	1,896,927	$	129,887		100.0	%	100.0	%
Duration
Fixed income portfolio duration		3.6 years

(1) Excludes cash and cash equivalents

15 of 19

Investment Portfolio - Quality As of March 31, 2010	PRIMERICA, INC.
	Financial Supplement

(Dollars in thousands)	Amortized Cost		% of Total
Investment Portfolio Quality Ratings
Total Fixed Income portfolio: (1)
Rating
AAA	$	616,981	32.5	%
AA		150,779	7.9	%
A		402,450	21.2	%
BBB		584,768	30.8	%
Below Investment Grade		134,898	7.1	%
NA		7,052	0.4	%
Total Fixed Income	$	1,896,927	100.0	%
Average rating by amortized cost		A
Corporate asset class:
Rating
AAA	$	1,465	0.1	%
AA		76,577	7.7	%
A		339,641	34.1	%
BBB		495,321	49.8	%
Below Investment Grade		75,792	7.6	%
NA		5,859	0.6	%
Total Corporate	$	994,655	100.0	%
Average rating by amortized cost		BBB+
CMBS asset class:
Rating
AAA	$	132,185	83.0	%
AA		23,742	14.9	%
A		1,945	1.2	%
BBB		285	0.2	%
Below Investment Grade		1,011	0.6	%
NA		120	0.1	%
Total CMBS	$	159,288	100.0	%
Average rating by amortized cost		AAA
Asset-Backed asset class:
Rating
AAA	$	39,702	67.5	%
AA		6,748	11.5	%
A		882	1.5	%
BBB		6,755	11.5	%
Below Investment Grade		4,721	8.0	%
NA		—	—
Total Asset-Backed	$	58,807	100.0	%
Average rating by amortized cost		AA-
Private asset class:
Rating
AAA	$	310	0.3	%
AA		4,964	4.3	%
A		21,129	18.3	%
BBB		56,386	48.9	%
Below Investment Grade		32,505	28.2	%
NA		—	—
Total Private	$	115,294	100.0	%
Average rating by amortized cost		BBB-
Mortgage-Backed asset class:
Rating
AAA	$	376,973	92.4	%
AA		5,196	1.3	%
A		6,537	1.6	%
BBB		1,583	0.4	%
Below Investment Grade		17,903	4.4	%
NA		—	—
Total Mortgage-Backed	$	408,192	100.0	%
Average rating by amortized cost		AA+
Treasury & Government asset class:
Rating
AAA	$	66,034	57.1	%
AA		23,701	20.5	%
A		15,281	13.2	%
BBB		10,599	9.2	%
Below Investment Grade		—	—
NA		—	—
Total Treasury & Government	$	115,615	100.0	%
Average rating by amortized cost		AA+
NAIC Designations
1	$	1,067,453	61.0	%
2		565,204	32.3	%
3		78,542	4.5	%
4		30,502	1.7	%
5		5,116	0.3	%
6		4,053	0.2	%
U.S. insurer Fixed Income (2)		1,750,871	100.0	%
Other (3)		162,432
Cash and cash equivalents		929,153
Total Fixed Income	$	2,842,456

(1) Excludes cash and cash equivalents

(2) NAIC ratings for our U.S. insurance companies’ fixed income portfolios, excluding cash and cash equivalents

(3) Other consists of assets held by our non-life companies, Canadian insurance company, and unrated equities

16 of 19

Investment Portfolio - Mortgage-Backed Vintage Analysis As of March 31, 2010	PRIMERICA, INC.
	Financial Supplement

	2004 and Prior			2005			2006			2007			2008		2009			Total
(Dollars in thousands)	Amortized Cost by Vintage
Commercial Mortgage-Backed Securities
Current Rating:
AAA	$	81,356		$	22,752		$	11,510		$	8,011		$	2,641	$	5,916		$	132,185
AA		11,978			10,265			1,500			—			—		—			23,742
A		1,745			—			200			—			—		—			1,945
BBB		285			—			—			—			—		—			285
BB		394			—			—			—			—		—			394
B		328			—			—			—			—		—			328
CCC and Lower		183			226			—			—			—		—			408
Total	$	96,268		$	33,242		$	13,210		$	8,011		$	2,641	$	5,916		$	159,288
	Net Unrealized Gain/(Loss) by Vintage
Current Rating:
AAA	$	2,151		$	(289	)	$	838		$	220		$	105	$	(86	)	$	2,938
AA		(818	)		(1,890	)		51			—			—		—			(2,658	)
A		(107	)		—			(2	)		—			—		—			(109	)
BBB		(204	)		—			—			—			—		—			(204	)
BB		92			—			—			—			—		—			92
B		52			—			—			—			—		—			52
CCC and Lower		9			(1	)		—			—			—		—			8
Total	$	1,176		$	(2,180	)	$	886		$	220		$	105	$	(86	)	$	120
	2004 and Prior			2005			2006			2007			2008		2009			Total
	Amortized Cost by Vintage
Prime Residential Mortgage-Backed Securities
Current Rating:
AAA	$	182,076		$	49,566		$	40,533		$	59,946		$	42,801	$	—		$	374,923
AA		—			—			—			—			—		—			—
A		1,091			5,445			—			—			—		—			6,537
BBB		—			1,583			—			—			—		—			1,583
BB		—			7,049			—			—			—		—			7,049
B		—			2,003			—			—			—		—			2,003
CCC and Lower		—			—			—			1,798			—		—			1,798
Total	$	183,167		$	65,646		$	40,533		$	61,744		$	42,801	$	—		$	393,892
	Net Unrealized Gain/(Loss) by Vintage
Current Rating:
AAA	$	11,642		$	139		$	2,613		$	4,094		$	3,248	$	—		$	21,736
AA		—			—			—			—			—		—			—
A		(80	)		(525	)		—			—			—		—			(605	)
BBB		—			(82	)		—			—			—		—			(82	)
BB		—			(362	)		—			—			—		—			(362	)
B		—			(188	)		—			—			—		—			(188	)
CCC and Lower		—			—			—			(196	)		—		—			(196	)
Total	$	11,562		$	(1,017	)	$	2,613		$	3,899		$	3,248	$	—		$	20,303
	2004 and Prior			2005			2006			2007			2008		2009			Total
	Amortized Cost by Vintage
Alt-A Residential Mortgage-Backed Securities
Current Rating:
AAA	$	—		$	2,050		$	—		$	—		$	—	$	—		$	2,050
AA		1,001			4,195			—			—			—		—			5,196
A		—			—			—			—			—		—			—
BBB		—			—			—			—			—		—			—
BB		—			—			—			—			—		—			—
B		—			—			374			—			—		—			374
CCC and Lower		3,789			2,892			—			—			—		—			6,681
Total	$	4,790		$	9,136		$	374		$	—		$	—	$	—		$	14,300
	Net Unrealized Gain/(Loss) by Vintage
Current Rating:
AAA	$	—		$	(102	)	$	—		$	—		$	—	$	—		$	(102	)
AA		(38	)		(638	)		—			—			—		—			(676	)
A		—			—			—			—			—		—			—
BBB		—			—			—			—			—		—			—
BB		—			—			—			—			—		—			—
B		—			—			(80	)		—			—		—			(80	)
CCC and Lower		(172	)		43			—			—			—		—			(129	)
Total	$	(209	)	$	(698	)	$	(80	)	$	—		$	—	$	—		$	(988	)

17 of 19

Investment Portfolio - Supplemental Data and Trends	PRIMERICA, INC.
	Financial Supplement

(Dollars in thousands)	Q1         2009	Q2         2009	Q3         2009	Q4         2009	Q1          2010
Net Investment Income by Source
Bonds & notes	na	na	na	na	$	83,814
Preferred and common stock	na	na	na	na		1,239
Policy loans	na	na	na	na		336
Cash & cash equivalents	na	na	na	na		283
Total investment income	na	na	na	na		85,671
Investment expenses	na	na	na	na		3,095
Net investment income	na	na	na	na	$	82,576
Fixed income average book yield	na	na	na	na		5.79	%
Mix of Fixed Income Portfolio Quality Ratings
Rating
AAA	na	na	na	na		32.5	%
AA	na	na	na	na		7.9	%
A	na	na	na	na		21.2	%
BBB	na	na	na	na		30.8	%
Below Investment Grade	na	na	na	na		7.1	%
NA	na	na	na	na		0.4	%
Total Fixed Income	na	na	na	na		100.0	%
Average rating by amortized cost	na	na	na	na		A

	As of March 31, 2010
	Market Value			Amortized Cost			Credit Rating
Top 25 Exposures
1       Government of Canada	$	52,202		$	47,063		AAA
2       National Rural Utilities Cooperative		15,812			12,930		A+
3       Sun Life Financial Inc		14,043			14,100		AA
4       Bank of America Corp		13,645			12,701		A
5       Verizon Communications Inc		13,332			11,476		A
6       General Electric Co		12,074			10,112		AA+
7       Edison International		11,908			12,032		BB-
8       ConocoPhillips		11,115			9,698		A
9       Transocean Ltd		10,695			10,071		BBB+
10     Enel SpA		10,540			10,537		A-
11     AT&T Inc		9,950			8,753		A
12     Medtronic Inc		9,692			9,314		AA-
13     Loews Corp		9,623			9,011		BBB
14     Reynolds American Inc		9,426			7,815		BBB
15     Province of Quebec Canada		8,937			7,218		A+
16     Iberdrola SA		8,631			8,467		BBB+
17     Amgen Inc		8,593			8,384		A+
18     Reed Elsevier Group PLC		8,579			8,499		BBB+
19     DCP Midstream LLC		8,569			7,559		BBB
20     Xlliac Global Funding		8,080			8,040		A
21     Westfield Group		7,904			7,449		A-
22     Roche Holding AG		7,711			6,908		AA-
23     Marathon Oil Corp		7,679			6,948		BBB+
24     Montpelier Re Holdings Ltd		7,621			7,207		BBB
25     Vale SA		7,615			7,101		BBB+
Total	$	293,977		$	269,394
% of total fixed income portfolio		14.5	%		14.2	%

	As of March 31, 2010
	Amortized Cost
Non-US Investments (1)
Canada	$	56,768
United Kingdom		54,142
Australia		34,342
France		17,639
Italy		12,036
Germany		11,782
Spain		10,494
Emerging Markets		12,616
All Other		71,836
Total	$	281,655

(1) US$ denominated investments in issuers outside of the United States; Emerging markets include Brazil, Colombia, Mexico, Peru, and South Africa.

18 of 19

Five-Year Historical Key Statistics	PRIMERICA, INC.
	Financial Supplement

	2005		2006		2007		2008		2009		Q1 2009		Q2 2009		Q3 2009		Q4 2009		Q1 2010
(Dollars in millions)
Recruits		215,615		204,316		220,950		235,125		221,920		57,623		57,453		58,654		48,190		58,085
Life-insurance licensed sales force (end of period)		97,105		96,532		97,125		100,651		99,785		100,409		100,672		101,095		99,785		97,354
Issued term life policies		251,442		245,520		244,733		241,173		233,837		53,023		62,202		58,070		60,542		52,445
Issued term life face amount	$	83,481	$	84,503	$	87,619	$	87,279	$	80,497	$	18,660	$	21,070	$	19,909	$	20,858	$	17,997
Term life face amount in force (end of period)	$	572,155	$	599,470	$	632,086	$	633,467	$	650,195	$	631,566	$	639,377	$	646,341	$	650,195	$	651,790
Estimated annualized issued term life premium	$	237	$	246	$	252	$	248	$	236	$	54	$	62	$	59	$	61	$	54
Investments & Savings product sales	$	4,174	$	4,665	$	5,189	$	4,458	$	3,007	$	729	$	731	$	722	$	825	$	974
Investments & Savings average client account values	$	28,474	$	32,117	$	36,696	$	32,476	$	26,905	$	23,253	$	25,340	$	28,413	$	30,375	$	31,404

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