Welcome to our dedicated page for Reinsurance Grp news (Ticker: RGA), a resource for investors and traders seeking the latest updates and insights on Reinsurance Grp stock.
Reinsurance Group of America, Inc. (RGA) is a global leader in life and health reinsurance, providing risk management solutions to insurers worldwide. This page serves as a centralized hub for all official RGA news, financial updates, and strategic developments.
Investors and industry professionals will find timely updates on quarterly earnings, acquisitions, leadership changes, and product innovations. The curated collection includes press releases detailing RGA's facultative underwriting advancements, group reinsurance partnerships, and global market expansions.
Our repository ensures easy access to critical information affecting RGA's stock performance and industry position. Bookmark this page for streamlined tracking of the company's financial health, regulatory milestones, and responses to evolving reinsurance trends.
Reinsurance Group of America (NYSE: RGA) has launched a cash tender offer for its outstanding 6.20% Fixed-to-Floating Rate Subordinated Debentures due 2042, amounting to $400 million. The offer, which expires on September 22, 2022, provides a tender consideration of $25.20 per $25 principal amount. The company plans to make payments on September 23, 2022, and holders can also utilize a Notice of Guaranteed Delivery until September 26, 2022. Importantly, the offer is contingent upon RGA's successful completion of a new subordinated debenture offering, without any minimum tender requirement.
Reinsurance Group of America, Incorporated (NYSE: RGA) announced the retirement of Board Chair J. Cliff Eason, effective December 31, 2022. Stephen T. O’Hearn, a current board member, will take over as Chair starting January 1, 2023. Eason has served on the board since RGA's IPO in May 1993 and has been Chair since 2008. O’Hearn, who joined the board in 2020, brings extensive experience from PwC where he was the Global Leader of the Insurance Practice. The transition aims to maintain strong leadership as RGA continues to grow in the reinsurance market.
Reinsurance Group of America reported a second quarter net income of $198 million, or $2.92 per diluted share, down from $344 million or $5.02 last year. Adjusted operating income increased to $391 million, or $5.78 per diluted share. Net premiums grew 4.3% year-over-year to $3.2 billion. The company deployed $121 million in transactions and raised its dividend by 9.6% to $0.80 per share. The estimated COVID-19 impact was approximately $11 million, reducing earnings by $0.12 per share. The effective tax rate for the quarter was 22.1%.
Reinsurance Group of America, Incorporated (NYSE:RGA) will release its second quarter earnings on August 4 at 4:15 p.m. Eastern Time. A conference call to discuss the results is scheduled for August 5 at 10 a.m. Eastern Time. RGA, a leader in life reinsurance with approximately $3.5 trillion in force and $89.8 billion in assets as of March 31, 2022, emphasizes its expertise in risk management and innovative financial solutions. More details can be found on RGA's website.
Reinsurance Group of America (NYSE: RGA) has elected Khanh T. Tran to its Board of Directors, effective July 1, 2022. RGA's President and CEO, Anna Manning, highlighted Tran's extensive knowledge in financial markets and corporate growth as key assets. Tran, a veteran in the insurance industry, previously served as CEO of Aviation Capital Group and held various executive roles at Pacific Life over 25 years. His appointment aims to bolster RGA's strategic initiatives, aligning with the company's five-year growth strategy and enhancing board expertise.
Reinsurance Group of America (RGA) reported a net loss of $63 million, or $0.93 per diluted share, in Q1 2022, a significant drop from $139 million net income last year. However, adjusted operating income improved to $32 million or $0.47 per diluted share. Premiums grew by 8.3% to approximately $3.2 billion, despite COVID-19 claims impacting results. The company deployed $130 million in operations and repurchased $25 million in shares. RGA maintains strong capital with $1 billion excess and ranks first in global capabilities for 11 years.
Reinsurance Group of America (RGA) will release its first quarter earnings on May 5 at approximately 4:15 p.m. Eastern Time. A conference call to discuss these results is scheduled for May 6 at 10 a.m. Eastern Time. RGA is a leading global provider of life reinsurance with around $3.5 trillion of life reinsurance in force and $92.2 billion in assets as of December 31, 2021. The call will be accessible at RGA’s website and will be available for replay for 90 days.
Reinsurance Group of America (NYSE: RGA) announced a strategic minority investment in Velocity Capital Advisors through a wholly-owned subsidiary, aiming to enhance returns and optimize investment management. With assets nearing $1.5 billion, Velocity specializes in non-dilutive financing solutions for various alternative asset managers. This marks RGA's first investment in this sector, aligning with its strategy to access attractive private assets. RBC Capital Markets acted as the exclusive financial advisor for RGA in this transaction.
Reinsurance Group of America (NYSE: RGA) has finalized a longevity reinsurance agreement with NN Life, covering about €4 billion in reserves. The transaction, effective December 31, 2021, underscores RGA's commitment to providing tailored solutions for the Dutch market. RGA, a Fortune 500 company, manages approximately $3.5 trillion in life reinsurance in force and holds assets of $92.2 billion as of December 31, 2021. This collaboration reflects RGA's strategy to enhance its value proposition through innovative financial solutions.
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