Warburg Pincus LLC's 23% stake in Primerica Inc. (NYSE:PRI) didn't
change the life insurer's business model, but its seal of approval
may have played a big role in Citigroup Inc.' s successful spin-off
of the unit, said Primerica co-CEO John Addison in this video
interview with The Deal on the floor of the New York Stock Exchange
on Thursday, the company's initial day of trading independently.
Warburg "brought an anchor investor that did a lot of due diligence
on our company," said Addison. "They're very smart people and
studied the company. I think it sent a signal to the market that a
very strong, reputable company was wanting to bet on the future of
Primerica." Watch the video below or download it on iTunes.
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Primerica's $320 million IPO.