Primerica to exit senior health business, records $229.6M impairment charge

Primerica, Inc.

Non-cash after-tax charge of $229.6M in Q2 2024 from writing off $253.6M goodwill/intangibles.
Abandonment of e-TeleQuote expected by September 30, 2024; will sell up to 19% stake first.
Exit driven by no clear path to profitability in challenging senior health distribution market.
Additional restructuring charges expected in Q3 2024; $50M insurance proceeds recognized in Q2.
No cash expenditures from impairment; tax benefits anticipated upon transaction completion.

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