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Reinsurance Group of America, Incorporated - RGA STOCK NEWS

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Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global life and health reinsurance company, with approximately $3.7 trillion of life reinsurance in force and assets of $97.6 billion as of December 31, 2023. Founded in 1973, RGA provides specialized solutions and expertise to help insurance companies manage risk and optimize capital. With operations in 27 countries including the United States, Canada, Europe, Asia, and Australia, RGA supports clients with a diverse range of products and services.

Business Lines: The company’s core business lines include individual life reinsurance, health reinsurance, long-term care reinsurance, group reinsurance, and financial solutions. RGA is a global leader in facultative underwriting, having processed nearly 5 million facultative cases since 1979. Additionally, RGA offers product development, risk management, e-underwriting solutions, and client training opportunities.

Recent Achievements and Partnerships: Recently, RGA announced a groundbreaking collaboration with LIBRA Insurance Partners and DigitalOwl. This partnership leverages DigitalOwl's AI technology to enhance RGA’s facultative underwriting program, significantly improving the efficiency of the life insurance case submission process. Another major milestone is a $5.8 billion reinsurance deal with Manulife Financial Corporation, marking the largest Universal Life reinsurance transaction in Canada's insurance industry.

Financial Condition: RGA remains financially robust with a substantial asset base and a significant volume of life reinsurance in force. The company’s solid financial foundation enables it to engage in large-scale transactions and forge strategic partnerships.

Global Reach and Impact: With operations spanning across continents, RGA is dedicated to making financial protection accessible globally. The company’s relentless pursuit of innovation and client-focused approach positions it as a trusted partner in the reinsurance industry.

To learn more about Reinsurance Group of America, Incorporated, visit www.rgare.com or follow RGA on LinkedIn and Facebook.

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Reinsurance Group of America (RGA) reported strong Q3 2024 results with net income of $156 million ($2.33 per diluted share), compared to $287 million ($4.29 per diluted share) in Q3 2023. Adjusted operating income reached $242 million ($3.62 per diluted share), while adjusted operating income excluding notable items hit a record $410 million ($6.13 per diluted share). The company deployed $382 million into in-force block transactions and increased Value of In-force Business Margins by $4.6 billion (13.9%) in the first nine months. Consolidated net premiums totaled $4.4 billion, up 3.2% year-over-year, with investment income increasing 14.4% due to higher rates and transaction volumes.

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The International Insurance Society (IIS) has announced the finalists for the 2024 RGA Leaders of Tomorrow award, recognizing exceptional leadership potential in the insurance industry. The three finalists are:

  • Annie Nhat Anh Tran (MSIG Asia): Exploring courageous leadership in emerging markets
  • Beth Carter (Protective Life Insurance): Highlighting benefits of improving financial literacy
  • Kyeonghwa Kim (RGA): Examining innovation opportunities for the protection gap in aging societies

The finalists will participate in a panel session at the IIS Global Insurance Forum on Nov. 18 in Miami, where the winner will be announced. This marks the 10-year anniversary of the RGA-sponsored mentorship program, which has nurtured 86 participants from 17 countries since its inception.

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Reinsurance Group of America, Incorporated (NYSE:RGA) has announced its plans to release third quarter earnings on Thursday, October 31, at approximately 4:15 p.m. Eastern Time. The company will host a conference call to discuss the results on Friday, November 1, at 10 a.m. Eastern Time. Interested parties can access the call by dialing 1-844-481-2753 (412-317-0669 international) and asking to join the RGA call.

A live audio webcast of the conference call will be available on RGA's website, and a replay will be accessible for 90 days following the call. RGA, founded in 1973, is a global leader in life and health reinsurance and financial solutions, with approximately $3.8 trillion of life reinsurance in force and assets of $109.9 billion as of June 30, 2024.

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The Society of Actuaries (SOA) Research Institute and Reinsurance Group of America (NYSE:RGA) have released a new study on behavioral science in life insurance. The research, titled "Searching for Simplicity: Using Behavioral Science to make Life Insurance Product Information Simple and Effective," simulated online term life insurance purchasing to test behavioral science techniques. It aims to help insurers simplify and improve the life insurance buying experience for consumers.

The study involved two experiments: one focused on improving comprehension of written messages in the sales journey, and another examining the impact of human and AI-generated videos. Each experiment collected data from 2,000 U.S.-based participants. The research provides insights on how insurers can enhance customer understanding of life insurance products and suggests directions for future research in this area.

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Reinsurance Group of America (NYSE: RGA) has announced a significant $3.5 billion coinsurance transaction with American National Insurance Company. The agreement involves RGA reinsuring a diversified block of life business from American National, with approximately $3.5 billion of statutory reserves being transferred to RGA subsidiaries. The transaction closed on August 26, 2024, with an effective date of July 1, 2024.

Key points of the deal include:

  • American National retains policyholder service and support
  • The agreement expands RGA's relationship with American National
  • It demonstrates RGA's expertise in customized reinsurance solutions
  • Wells Fargo acted as RGA's exclusive financial advisor
  • Clifford Chance US LLP provided legal counsel for the transaction
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Reinsurance Group of America (NYSE: RGA) reported strong second quarter results for 2024. Key highlights include:

Net income available to shareholders was $203 million, or $3.03 per diluted share, compared to $205 million, or $3.05 per diluted share, last year. Adjusted operating income rose to $365 million, or $5.48 per diluted share, up from $297 million, or $4.40 per diluted share in 2023.

Premium growth was notable, increasing by 17.5% year-over-year, and 18.5% on a constant currency basis. The company deployed $307 million into in-force transactions and announced a 4.7% increase in its quarterly dividend to $0.89 per share. Return on equity stood at 9.7%, with an adjusted operating ROE of 15.3% over the trailing twelve months. Total assets amounted to $109.9 billion compared to $89 billion last year.

The effective tax rate was slightly above expectations at 24.3% on pre-tax income. RGA's balance sheet remains strong with excess capital of approximately $1 billion.

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RGA Leaders of Tomorrow program celebrates its 10th anniversary at the 60th Global Insurance Forum in Miami, November 17-19, 2024. Sponsored by Reinsurance Group of America (RGA), this mentorship initiative supports insurance professionals with executive leadership potential. The program includes mentorship, strategic issue examination, and original paper presentations.

The anniversary celebration features an awards ceremony and panel discussion with the 2024 class and alumni. One candidate will receive the RGA Leaders of Tomorrow Award, while three will participate in a panel on industry challenges and opportunities. The Global Insurance Forum will also address key industry topics like tech-powered risk management and cyber risk.

Josh Landau, IIS President, and Tony Cheng, RGA President and CEO, emphasize the program's importance in developing industry talent and fostering innovation. The event showcases RGA's commitment to nurturing future insurance leaders and highlights the industry's focus on sustainability and collective success.

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Reinsurance Group of America (NYSE: RGA) will release its second quarter earnings on August 1 at 4:15 p.m. Eastern Time.

The results will be available via newswire and on RGA’s website.

A conference call to discuss the earnings will be held at 10 a.m. Eastern Time on August 2.

Participants can join the call by dialing 1-844-481-2753 (U.S.) or 412-317-0669 (international).

A live audio webcast and a 90-day replay of the call will be accessible on RGA’s Investors page.

RGA, founded in 1973, is a global leader in life and health reinsurance with $3.7 trillion life reinsurance in force and $106 billion in assets as of March 31, 2024.

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Reinsurance Group of America (NYSE: RGA) has announced the appointment of Axel André as its new Chief Financial Officer (CFO), effective August 5, 2024. André will succeed Todd Larson, who will transition to the role of Special Advisor to the CEO until his retirement on December 31, 2024. André joins RGA from American Equity Investment Life Insurance Company, where he served as Executive Vice President and CFO since 2021. His extensive experience in the insurance industry includes executive roles at Jackson National Life Insurance and American International Group (AIG). The transition aims to leverage André’s expertise to drive RGA’s strategic initiatives and growth.

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Reinsurance Group of America (RGA), a leading global life and health reinsurer, has announced a significant coinsurance transaction with Tokio Marine & Nichido Life Insurance (Anshin Life). The deal involves reinsuring approximately 100 billion JPY worth of paid-up whole life policies. Gaston Nossiter, RGA's Senior VP and Head of Asia Pacific, emphasized that this transaction underlines RGA's commitment to the Japanese market and their ability to address capital and market risks with innovative financial solutions. Anshin Life highlighted RGA's local presence and flexibility in addressing asset liability management strategies as key factors in their partnership.

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FAQ

What is the current stock price of Reinsurance Group of America, Incorporated (RGA)?

The current stock price of Reinsurance Group of America, Incorporated (RGA) is $227.645 as of November 6, 2024.

What is the market cap of Reinsurance Group of America, Incorporated (RGA)?

The market cap of Reinsurance Group of America, Incorporated (RGA) is approximately 14.8B.

What does Reinsurance Group of America, Incorporated do?

RGA provides life and health reinsurance solutions, offering products such as individual life reinsurance, group reinsurance, financial solutions, and more.

Which are the main business lines of RGA?

RGA’s core business lines include individual life reinsurance, health reinsurance, long-term care reinsurance, group reinsurance, and financial solutions.

What are some notable recent achievements of RGA?

Recent achievements include a collaboration with LIBRA Insurance Partners and DigitalOwl to enhance underwriting efficiency and a $5.8 billion reinsurance deal with Manulife Financial Corporation.

How financially strong is RGA?

RGA is financially robust with approximately $3.7 trillion of life reinsurance in force and assets of $97.6 billion as of December 31, 2023.

In how many countries does RGA operate?

RGA operates in 27 countries, including the United States, Canada, Europe, Asia, and Australia.

What is RGA's expertise in facultative underwriting?

RGA is a global leader in facultative underwriting, having processed nearly 5 million facultative cases since 1979.

What types of solutions does RGA offer beyond reinsurance?

Beyond reinsurance, RGA offers product development, risk management, e-underwriting solutions, and client training opportunities.

Where can I learn more about RGA?

For more information, visit RGA's official website at www.rgare.com or follow them on LinkedIn and Facebook.

Who are some of RGA's recent partners?

Recent partners include LIBRA Insurance Partners and DigitalOwl.

What purpose drives RGA's operations?

RGA is guided by the purpose of making financial protection accessible to all through innovation, execution, and client focus.

Reinsurance Group of America, Incorporated

NYSE:RGA

RGA Rankings

RGA Stock Data

14.82B
65.86M
0.41%
96.67%
0.48%
Insurance - Reinsurance
Life Insurance
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United States of America
CHESTERFIELD