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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.
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Reinsurance Group of America, Incorporated (RGA) has executed an asset-intensive reinsurance transaction in Continental Europe with Baloise Belgium NV, involving approximately 57,000 individual life insurance policies with guaranteed minimum returns and total reserves of approximately €900 million. This strategic partnership underscores RGA's expertise and strong position in the European market, providing guidance and support to enhance Baloise's financial efficiency. The terms of the transaction have not been disclosed.
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Reinsurance Group of America, Incorporated (NYSE: RGA) has been named to Fortune magazine’s 2024 list of the World’s Most Admired Companies. This recognition is attributed to RGA's strong global presence, long track record of performance, and commitment to social responsibility and integrity. The company aims to expand its support for clients and deliver value to shareholders while upholding its distinguished honor.
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Reinsurance Group of America, Incorporated (NYSE: RGA) announced a strategic investment and exclusive global life and health reinsurance partnership with DigitalOwl, an insurance technology company that utilizes advanced artificial intelligence to interpret and transform medical records. The partnership aims to develop a digital solution for carriers that will automate the processing of structured and unstructured data for underwriting decisions in an all-digital format.
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Reinsurance Group of America, Incorporated (NYSE:RGA) plans to release fourth quarter earnings on Thursday, February 1, at approximately 4:15 p.m. Eastern Time. RGA is a global industry leader specializing in life and health reinsurance and financial solutions. Founded in 1973, RGA is today one of the world’s largest and most respected reinsurers with approximately $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 2023.
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Reinsurance Group of America, Incorporated (NYSE: RGA) announces the launch of Ruby Reinsurance Company, securing initial investment from Golub Capital, Hudson Structured Capital Management Ltd., and Sammons Financial Group.
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Reinsurance Group of America (RGA) reported a net income of $287 million, or $4.29 per diluted share, in the third quarter, compared to a net loss of $76 million, or $1.13 per diluted share, in the same quarter last year. Adjusted operating income for the quarter was $372 million, or $5.57 per diluted share, compared to $16 million, or $0.24 per diluted share, in the prior year. Premium growth was 31.0% over the prior-year quarter and 14.0% year-to-date. RGA deployed $203 million into in-force and other transactions and returned $106 million to shareholders through share repurchases and dividends.
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Reinsurance Group of America (RGA) has received the 2023 Outstanding Reinsurance Scheme Award from the Hong Kong Federation of Insurers and was named Life Reinsurer of the Year in the 27th Asia Insurance Industry Awards. RGA also won the Innovation of the Year award for its simplified issue expansion project in South Korea. RGA has been named Life Reinsurer of the Year for five of the past seven years.
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Reinsurance Group of America, Incorporated (NYSE:RGA) plans to release third quarter earnings on Thursday, November 2, at approximately 4:15 p.m. Eastern Time.
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Felicia Er of MSIG Asia wins the RGA Leaders of Tomorrow 2023 award for her research on Empathetic Leadership, focusing on gender diversity in the corporate landscape. Honorable mentions include Joyce Liow of Milliman for her paper on Sustainable Investment and Joseph Strathman of Transamerica for connecting with the Underserved Population Segments. RGA, the sponsor of the program, aims to support and motivate insurance professionals with executive leadership potential. The program has included a total of 76 candidates from 16 countries since 2015. The winners will present at the Global Insurance Forum in Singapore. Mentors for the program include executives from AXA Group, RGA, Milliman, and Prudential, among others.
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Reinsurance Group of America, Incorporated
NYSE:RGA
RGA Rankings
RGA Stock Data
13.26B
65.38M
0.41%
96.54%
0.78%
Reinsurance Carriers
Finance and Insurance
United States of America
CHESTERFIELD
About RGA
www.rgare.com rga reinsurance company is a subsidiary of reinsurance group of america, incorporated (nyse: rga), which is an international global life and health reinsurance company with approximately $2.9 trillion of life reinsurance in force and assets of $44.7 billion, as of december 31, 2014. business lines include individual life reinsurance, individual living benefits reinsurance, health reinsurance, long-term care reinsurance, group reinsurance and financial solutions. rga also supports clients with bancassurance and retakaful. rga is the worldwide leader in facultative underwriting. as a global organization, rga has received nearly 5 million facultative cases since 1979. rga also offers product development, risk management, e-underwriting solutions and client training opportunities. rga has operations in 27 countries: australia, barbados, bermuda, canada, china, france, germany, hong kong, india, ireland, italy, japan, malaysia, mexico, the netherlands, new zealand, pol