Reinsurance Group Of America, Inc. - RGA STOCK NEWS

Reinsurance Group of America (RGA) appoints Alison Rand to its Board of Directors, bringing extensive financial and risk management expertise. Ms. Rand's background in corporate finance and investor relations will support RGA's growth strategy.

RGA Canada and Manulife complete the largest universal life reinsurance transaction in Canada, reinsuring CA$5.8 billion of reserves with an asset transfer. The long-standing partnership between the companies has led to the success of this historic transaction, showcasing RGA's expertise and innovation in tailored solutions.

Manulife Financial announces a $5.8 billion reinsurance deal with RGA Life Reinsurance Company of Canada, releasing $0.8 billion in capital for expanded buyback program. The transaction is the largest Universal Life reinsurance deal in Canada, enhancing core ROE and EPS. The company plans to dispose $0.6 billion of alternative long-duration assets, focusing on shareholder value and profitability.

Reinsurance Group of America (RGA) announces a landmark agreement with Japan Post Insurance Company for an approximately 700 billion JPY in-force block of individual life annuities through coinsurance, marking a significant milestone in the Asia-Pacific longevity market. The transaction showcases RGA's expertise in asset-intensive deals and its strong position in the Japanese and Asia Pacific markets.

Reinsurance Group of America (RGA) will host a conference for investors and analysts in New York City. The event will feature a live webcast and presentation materials.

Legal & General Retirement America and Reinsurance Group of America complete a $700 million pension risk transfer transaction with FirstEnergy, securing retirement benefits for 2,000 retirees.

Prudential Financial, Inc. announces the acquisition of Assurance IQ, Inc., a leading digital consumer solutions platform. The deal is valued at $2.35 billion, aiming to enhance Prudential's ability to reach customers digitally and expand its offerings. The acquisition is expected to be accretive to EPS and ROE by 2022, providing significant growth opportunities for Prudential.

LIBRA Insurance Partners announced a groundbreaking underwriting collaboration with DigitalOwl and Reinsurance Group of America (RGA) to address inefficiencies in the informal submission process. This collaboration aims to utilize DigitalOwl technology via RGA's facultative underwriting program, providing transformative efficiencies to the life insurance case submission process. The partnership also aligns with LIBRA's recent rollout of QuoteShop, a proprietary 'informal quote' submission platform with advanced multi-carrier capabilities, offering an efficient end-to-end solution for carriers and agents.

Reinsurance Group of America, Incorporated (RGA) reported a net income available to shareholders of $2.37 per diluted share for the fourth quarter, with adjusted operating income of $4.73 per diluted share. Premium growth was 19.2% over the prior-year quarter. Full-year results showed net income available to shareholders of $13.44 per diluted share, with adjusted operating income of $19.88 per diluted share. RGA deployed capital of $346 million into in-force transactions and had total shareholder capital returns of $106 million for the fourth quarter. For the full year, deployed capital was $933 million with total shareholder capital returns of $419 million. The company saw a 15.3% premium growth over the prior year, with ROE of 11.4% and adjusted operating ROE of 14.5%. However, net foreign currency fluctuations had an adverse effect on net income available to shareholders and adjusted operating income. The effective tax rate for the quarter was 2.2% on pre-tax income, below the expected range of 23% to 24%, and for the full year, it was 21.8% on pre-tax income, also below expectations. Tony Cheng, President and CEO, expressed optimism based on favorable business conditions and RGA's global leadership position.