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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 (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.
Reinsurance Group of America (RGA) has entered into a significant agreement with The Dai-ichi Life Insurance Company to reinsure 200 billion JPY of statutory reserves through coinsurance, effective March 31, 2021. This collaboration builds on a previous transaction, highlighting RGA's strong partnership with Dai-ichi. Larry Carson, Executive VP of Global Financial Solutions at RGA, expressed optimism about ongoing growth opportunities in Japan and Asia. As of March 31, 2021, RGA has approximately $3.4 trillion in life reinsurance in force and assets totaling $84.8 billion.
Reinsurance Group of America (RGA) reported Q1 net income of $139 million ($2.03 per diluted share), reversing last year’s $88 million loss. However, adjusted operating loss was $84 million ($1.24 per diluted share), down from a $89 million profit last year. The quarter included an estimated $474 million impact from COVID-19 claims. Net premiums rose 3% year-over-year to $2.9 billion. RGA's investment income increased significantly, aided by corrected accounting practices, leading to an average investment yield of 5.67%.
Reinsurance Group of America (NYSE: RGA) has been ranked #1 in NMG Consulting’s 2020 Global All Respondent Business Capability Index (BCI) for the 10th consecutive year. This ranking evaluates reinsurer effectiveness based on feedback from around 1,500 insurance executives across more than 50 countries. RGA's CEO, Anna Manning, highlighted the significance of this recognition, reflecting strong client approval. The consistent top performance demonstrates RGA's commitment to client relationships and effective outcomes in the reinsurance market.
Reinsurance Group of America (RGA) will release its first quarter earnings on May 6 at 4:15 p.m. Eastern Time, available via newswire and on its website. A conference call to discuss these results is scheduled for May 7 at 11 a.m. Eastern Time, accessible by phone or through a live audio webcast on RGA's website. RGA, a Fortune 500 company, offers life reinsurance and financial solutions, with $3.5 trillion in reinsurance in force and $84.7 billion in assets as of December 31, 2020, showcasing its expertise in risk and capital management.
RGA and its subsidiary RGAX announced the successful completion of a Service Organization Control (SOC) 2 Type II examination for their AURA NEXT underwriting platform. Launched in 2001, AURA NEXT automates underwriting processes and enhances risk analysis for life insurers. This accomplishment highlights RGA’s commitment to security, availability, and operational effectiveness, reassuring clients about the robustness of the platform. RGA, a leader in life reinsurance with $3.5 trillion in force, continues to innovate in the insurance sector, aiming to improve client experiences and underwriting efficiency.
Reinsurance Group of America (NYSE: RGA) reported a fourth quarter net income of $132 million, or $1.94 per diluted share, down from $235 million or $3.68 in the previous year. Adjusted operating income fell to $81 million, or $1.19 per diluted share, compared to $219 million or $3.43 the year prior. The company benefited from favorable foreign currency fluctuations of $0.06 per share on net income and $0.04 on adjusted income. Net premiums for the quarter were $3.26 billion versus $2.99 billion; year-to-date premiums totaled $11.69 billion.
Reinsurance Group of America (RGA) has announced its agreement to acquire 100% of Hodge Life Assurance Company Limited (HLAC), which holds annuity liabilities of approximately £570 million ($780 million USD). This acquisition highlights RGA's commitment to the U.K. market and aims to enhance its capital and risk management solutions. HLAC will cease writing new business by February 19, 2021, with a seamless transition planned for existing customers. The completion of the acquisition is contingent upon regulatory approval.