Welcome to our dedicated page for Reinsurance Group of America news (Ticker: RGA), a resource for investors and traders seeking the latest updates and insights on Reinsurance Group of America stock.
Reinsurance Group of America, Incorporated reports developments tied to its global life and health reinsurance business. The company provides life reinsurance, living benefits reinsurance, group and health reinsurance, financial solutions, facultative underwriting, and product development across markets in the Americas, Europe, Africa, Asia, and Australia.
Recurring RGA news includes quarterly operating results, capital allocation updates, dividends, debt securities activity, credit rating actions, board and executive leadership changes, and investment management developments. Coverage also reflects the company’s traditional reinsurance and financial solutions activities, along with balance sheet, risk-management, and governance topics relevant to a publicly traded insurance holding company.
Reinsurance Group of America reported a third quarter net loss of $22 million or $0.32 per diluted share, a decline from a net income of $213 million or $3.12 per diluted share in the prior year. Adjusted operating loss was $75 million ($1.11 per diluted share), impacted by COVID-19 claims costing approximately $500 million. Despite challenges, net premium growth was up 9.5%, totaling $3.1 billion. The company deployed $140 million into transactions and executed $46 million in share buybacks, ending the quarter with excess capital of around $1 billion.
Reinsurance Group of America (RGA) plans to announce its third quarter earnings on November 4 at 4:15 p.m. ET. A conference call to discuss the results will follow on November 5 at 10 a.m. ET, accessible via phone or live webcast on RGA's website. As of June 30, 2021, RGA holds approximately $3.5 trillion in life reinsurance and has assets totaling $88.9 billion, reflecting its position as a leading global provider in the life reinsurance sector.
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and Long-Term Issuer Credit Ratings of aa- (Superior) for RGA Reinsurance Company and its subsidiaries. The outlook for these ratings is stable. RGA's balance sheet strength is assessed as very strong with a solid risk-adjusted capitalization, improved by a $500 million stock offering. Despite some volatility in earnings due to COVID-19 impacts, RGA's innovative solutions and leading market positions globally, with 45% of revenues from international operations, support its favorable profile.
Reinsurance Group of America (NYSE: RGA) has launched FAC Exchange, a new electronic platform for carriers to send facultative cases and receive quotes from multiple reinsurers. This replaces the previous FAC Console, which had been the industry standard for over 20 years. FAC Exchange integrates with carrier systems, utilizing standardized data formats, enhancing efficiency and risk assessment. The new service is available without licensing fees and aims to continually evolve based on client feedback. Support for FAC Console ends on June 30, 2023.
Reinsurance Group of America (NYSE: RGA) announced a successful completion of a longevity reinsurance transaction with Athora Netherlands, covering 46,000 individual annuity policies with total reserves of approximately EUR 3.3 billion. This deal, effective since July 1, 2021, aims to transfer longevity risk to RGA, reflecting its commitment to developing customized reinsurance solutions. RGA continues to expand its longevity business in Europe, building on previous successful transactions in the Netherlands, France, and the UK.
Reinsurance Group of America (RGA) announced a strong second quarter with a net income of $344 million or $5.02 per diluted share, up from $158 million in the previous year. Adjusted operating income rose to $274 million or $4.00 per diluted share. Consolidated net premiums increased by 11% to $3.1 billion. Favorable foreign currency effects boosted earnings, with COVID-19 impacts gradually decreasing. RGA also declared a 4% increase in quarterly dividends to $0.73, reflecting a solid balance sheet with excess capital of $1.2 billion.
Reinsurance Group of America (RGA) will host a virtual conference for institutional investors on December 9, 2021, from 8:30 a.m. to 11 a.m. Eastern Time. Presentation materials and a live webcast will be available on www.rgare.com. A recording will be posted after the event. As of March 31, 2021, RGA is a Fortune 500 company with approximately $3.4 trillion of life reinsurance in force and assets of $84.8 billion. Founded in 1973, RGA specializes in life reinsurance and financial solutions worldwide.
Reinsurance Group of America (NYSE:RGA) will release its second-quarter earnings on August 3 at 4:15 p.m. ET, followed by a conference call on August 4 at 10 a.m. ET. The company, a leading global life reinsurance provider, has approximately $3.4 trillion in force and $84.8 billion in assets as of March 31, 2021. RGA is known for its expertise in risk management and innovative solutions across various reinsurance sectors.
TAI has launched TAI Treaty, an innovative digital solution for treaty management utilizing SortSpoke's machine learning technology for data extraction. This unique offering allows life insurers and reinsurers to digitize, store, search, and export key treaty data efficiently. CEO Tom Freitas highlighted the product as a significant advancement in addressing the historically challenging access to treaty information within the reinsurance ecosystem. With nearly 40 years of experience, TAI continues to lead in reinsurance administration software and services.
Reinsurance Group of America, Incorporated (RGA) has successfully completed an annuity reinsurance transaction with Modern Woodmen of America. This agreement involves RGA's subsidiary reinsuring a seasoned block of U.S. annuity business, while Modern Woodmen will handle contract servicing. The transaction, effective April 1, 2021, closed on June 3, 2021. RGA aims to enhance its asset-intensive business, demonstrating its commitment to tailored solutions for clients. RGA manages approximately $3.4 trillion in life reinsurance in force and possesses $84.8 billion in assets as of March 31, 2021.