Reinsurance Group Of America ( (RGA) ) has released its Q1 earnings. Here is a breakdown of the information Reinsurance Group Of America presented to its investors.
Reinsurance Group of America, Incorporated (RGA) is a global leader in life and health reinsurance, providing financial solutions to help clients manage risk and optimize capital. The company reported its first-quarter results with a net income of $286 million, or $4.27 per diluted share, showing an increase from the previous year. Adjusted operating income was $378 million, or $5.66 per diluted share, slightly down from the previous year. The company experienced favorable biometric claims across all segments, contributing to a positive financial impact. RGA deployed $418 million into in-force block transactions and maintained a robust balance sheet with estimated excess capital of $1.9 billion. Despite a 25% decrease in net premiums compared to the previous year, the company saw a 13% increase after adjusting for certain impacts. Investment income rose by 13%, although the average investment yield slightly decreased. The effective tax rate was lower than expected due to U.S. tax benefits. Looking ahead, RGA remains optimistic about its pipeline for new business and in-force transactions, with plans to deploy additional capital in a strategic partnership with Equitable Holdings.